Polygiene AB (publ.) Interim Financial Statements 1 January – 30 June 2016
Continued growth with strategic market activities
Net revenues for Q2 increased by 21%. Excluding exchange rate effects the increase was 24%. For the first six months of the year, net revenues increased 51% in SEK and 52% excluding exchange rate effects.
Financial trends in brief
| Key ratios | Apr-Jun 2016 | Apr-Jun 2015 | Jan-Jun 2016 | Jan-Jun 2015 | Rolling 12 mos. | Whole year |
| Net sales | 13.0 | 10.7 | 26.4 | 17.5 | 60.4 | 51.5 |
| Operating profit EBIT, MSEK | –2.3 | 0.6 | –3.6 | 0.7 | 1.3 | 5.6 |
| Profit after tax, MSEK | –2.3 | 0.6 | –3.6 | 0.7 | 4.9 | 9.2 |
| Operating margin EBIT, % | –17.6 | 5.8 | –13.7 | 3.7 | 7.3 | 10.9 |
| Operating margin after tax, % | –17.6 | 5.8 | –13.7 | 3.7 | 8.1 | 17.8 |
| Earnings per share, SEK | –0.13 | 0.04 | –0.20 | 0.04 | 0.27 | 0.55 |
| Cash flows MSEK | –0.8 | –1.1 | –3.9 | –1.7 | 19.3 | 21.5 |
Q1 profits were impacted by planned increased marketing activities and hiring, plus expenses related to the share listing on Nasdaq First North. Q2 investment in PR and marketing activities increased MSEK 2.4 over the same period the previous year. These investments increased MSEK 4.3 for the first six months of the year.
Significant event for the period (April–June)
In a new segment
Polygiene took a first step into the personal protective equipment and uniforms for work with the US firm Propper, that now advertises they deliver a new collection of high performance underclothing for users with extremely high demands, such as military and rescue services personnel.
New partnership in Footwear
Converse Footwear Co., Ltd. (Japan) is the first brand for shoes to introduce the advantages of Polygiene Odor Control Technology to Japanese consumers. This will be through the groundbreaking 2016 Converse Spring/Summer “Whiteplus collection”. The partnership with Converse Footwear (Japan) gives Polygiene a foothold in a new market where odor-free shoes shows significant potential among odor-conscious consumers.
Polygiene in partnership with HJC, global manufacturer of motorcycle helmets
HJC, the global leading Korean manufacturer of motorcycle helmets, are introducing helmets with odor control in partnership with Polygiene. Starting in the 2016 spring/ summer season Polygiene will be used in every version of their RPHA 11, one of the company’s most advance models. Our partnership with HJC gives Polygiene a strong presence in the fast growing segment of motorcycle helmets. The respected HJC brand, known for their innovation strength, is the largest provider to the US market, with a strong presence in Europe, too.
Polygiene and White Sierra partnering to deliver odor-free garments for the “outdoor” market
White Sierra is a US family business providing clothes for all kinds of outdoor activities for the entire family, including skiing, winter activities, hiking, fishing and other family activities. White Sierra will introduce the advantages of “Polygiene Odor Control Technology” to their garments in their “Trail” and “Travel” collections in spring 2017.
New board member
Jonas Sjögren, CEO for Discovery Networks Sweden, was elected new member of the Board of Polygiene AB (publ) at the AGM 11 May 2016.
Significant events after the period end
Share options
In 2014, Polygiene issued 6,000 warrants to staff and members of the board which, after recalculation based on the share split implemented in fall 2015, entitle holders to subscription of 1,200.00 in total at a purchase price of SEK 3 per share. As of 19 July 2016, all the warrants in this program where exercised in subscription for shares. After registration of the new shares, the total number of outstanding shares in Polygiene AB will increase from 19,316.000 to 20,516,000 and the share capital will increase from SEK 1,931,600 to 2,051,600.
Malmö 25 August, 2016
The Board
This information is information that Polygiene AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 12.00 CET on August 25, 2016.
For more information, please contact:
Christian von Uthmann, CEO, Polygiene
Cell: + 46 (0)70 319 77 21, e-mail: cvu@polygiene.com
About Polygiene
Polygiene is the world-leading provider of odor control technology and Stay Fresh solutions for clothing, sports equipment, lifestyle textiles and other materials to help people stay fresh and confident. Polygiene brings the Scandinavian values of quality and care for the environment to life through its products. More than 100 global premium brands have chosen to use Polygiene Odor Control Technology in their products. Established in 2006, the company is listed on Nasdaq First North in Stockholm, Sweden. Remium Nordic AB acts as its certified adviser.
Tags: