Polygiene provides guidance for Q2 compared to the same period last year
Polygiene reports a growth of 37% in the second quarter with a gross margin maintained around 70%. Operating profit after tax improved significantly by SEK -0.9 (-4.3) million over last year.
The company provides guidance for the quarterly report released on August 27:
- The company reports a sales increase of 37% with a retained gross margin of 70%. Accumulated growth from the beginning of the year amounts to 19%.
- Operating profit after tax amounted to SEK -0.9 (-4.3) million, a significant improvement over last year. Excluding the exchange rate effect of a declining dollar, operating profit after tax amounts to SEK 0 (-4.2) million.
- Cash flow remained unchanged during the period (+/-0), which is also a clear improvement on last year's SEK -2.2million.
“I am very pleased with the positive development we have seen in the second quarter. All key figures point in the right direction and confirm the feeling I have of the company now being on the right track. Given Covid-19 and the prevailing circumstances, it feels good to be able to deliver growth of 37%. The launch of ViralOff on April 7 has resulted in some additional sales during the quarter, but the effect of the larger agreements signed at the end of the period, will not be seen until Q3 and Q4”, says Ulrika Björk, CEO of Polygiene. "However, we see a strong growth trend and interest in our anti-viral technology, ViralOff remains very big."
This information is information that Polygiene AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07.30 CET on July 8, 2020.
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Ulrika Björk, CEO
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As the world leader in stays fresh and odor control technologies, we want to change the way we view clothes - from fast consumables to durables. We treat clothes, home products and textiles to help people stay fresh, wash less and let clothes and products live longer. Over 140 global premium-brands have chosen to use the Polygiene brand with their products. Polygiene is listed on Nasdaq First North Growth Market in Stockholm, Sweden. For more information: www.polygiene.com. Erik Penser Bank AB acts as its Certified Adviser. Phone: +46 8- 463 83 00, e-mail: firstname.lastname@example.org.