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Polygiene AB (publ.) Interim Report July 1–September 30, 2020

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Strongest quarter ever, new strong partnership agreements in place

Q3 in brief

  • The best quarter ever with a net sales of 22.9 (20.5) and with a positive growth by 11.7 % compared to the same period last year.
  • The operating profit/loss before tax for the period has improved over the previous year and amounted to MSEK 2.4 (2.0).
  • The gross margin has increased at 70.4 (69.9) %.
  • The cash flow in the third quarter was positive, MSEK 0.5 (1.8).

Events during Q3 2020 (July-September)

  • Polygiene is overall winner in Scandinavian Outdoor Group (SOG) awards 2020! Each year the knowledgeable and competent jury from the SOG reviews new products and technologies across several categories and this year Polygiene’s ViralOff® was picked as the best new technology of the year and also declared overall winner of 2020!
  • Diesel press releases its partnership with Polygiene. As new consumer trends on fabric protection emerge, DIESEL is proud to announce the introduction of an ultra-innovative denim treatment that physically halts 99 % of any viral activity. Developed in partnership with Polygiene, it will be implemented across a selection of the brand’s Spring/Summer 2021 denim styles, aiming at a greater range of products moving forward.
     
  • Returnity is introducing New Packaging Treated with Polygiene’s ViralOff Antimicrobial Solvent Effective for 30 washes to combat surge of plastic waste due to COVID-19.
     
  • Polygiene and TK-Domashniy Tekstyl sign distributor agreement. TK-Domashniy Tekstyl is a major player in home textiles, working on all levels in their field, from raw materials, lego production and over 5000 consumer articles, exporting to many countries beyond the Ukraine.
     
  • India-based textile manufacturer Skywalk International signs partnership with Polygiene to treat textiles and facemasks with Polygiene ViralOff. The order value is estimated between USD 150 000 to USD 200 000 per year.
     
  • Hakers, garment factory and mask producer is one of the biggest producers of sport, outdoor garments and company uniforms in Taiwan, with customers like Champion USA, Under Armour, Marmot and Dallas Cowboys. The first order, for masks, has an order value of SEK 2.4 million. The masks will not be sold but used by Dallas Cowboys and other organizations involved with the team. For these masks the Biostatic Stays Fresh Technology is used, but for coming orders they are discussing use of Polygiene ViralOff for masks and other products.
  • In partnership with Polygiene, Welspun has announced its Antiviral Carpet Tiles, a flooring solution that reduces viruses and thereby the transmission of them, including the human coronavirus.
     
  • WEKO is a leading German supplier of industrial application systems for surface finishing. Together with Polygiene it will now offer solutions for applying Polygiene ViralOff as a spray of microdroplets. This saves up to 80 % of water, 80 % of chemistry and 90 % of drying energy.
     
  • S.M. Group launches Denimmune fabrics, treated with Polygiene ViralOff. The Pakistan-based manufacturer of denim presented the new textile product at Denim Expo recently. The production is already rolling and the order value for Polygiene is estimated at 5 MSEK annually.  

  • Dane Momcilovic will assume the role of Chief Technology Officer (CTO) with a focus on streamlining processes and driving the technical team forward. He will be based at the head office in Malmö and brings with him a solid background in managing technical teams. His expertise is especially important now as Polygiene has broadened its product portfolio, developed new technologies and more stringent regulations. Prior to joining Polygiene, Dane served as Group R&D Manager at Diab.

  • Polygiene AB announces that the investment fund, part of the segment Lloyd Fonds, Lloyd Fonds AG, have acquired 2.4 % of the company.
     
  • Dr. Scholl’s®, the most trusted brand in foot care, is now teaming up with odor-controlling specialist

Polygiene to keep its premium insoles fresh from odor and microbes. Moving forward, Dr. Scholl’s insoles will combine two Polygiene technologies – antibacterial Stays Fresh Technology and Odor Crunch® treatment – to stop the growth of odor-causing bacteria.

  • In the first test ever using the ISO method* on the SARS-CoV-2 virus on textiles, Polygiene ViralOff was confirmed the first commercial textile treatment in the world to reduce the virus by over 99 % over two hours.

  • Takisada-Nagoya is a leading textile company in Japan. Founded in 1864 the annual turnover is approximately USD 590 Million. They will sell treated fabrics with all the Polygiene brands from ViralOff to Biostatic Stays Fresh, both domestically and internationally.
     
  • In the current situation with Covid-19, consumers and brands alike seek new solutions. Concerns over viruses begin even at the shopping stage, where markets like Italy require disinfection of garments before they are sold to consumers. YKK has developed a line of zippers with tape treated with Polygiene’s ViralOff, so these parts are essentially self-cleaning.

Significant events after Q3

  • Starting in October 2020, Polygiene will treat Marks & Spencer’s kitchen towels. The towel is treated with Polygiene antimicrobial Stays Fresh Technology and is part of M & S globally distributed core programs. The yearly forecasted order value of the kitchen towels is USD 75 000.
     

  • BEDGEAR® is a US leader in bedding. Together with Polygiene they now announce the new Germ Shield® Protector that incorporates a lab-tested antimicrobial technology that inhibits 99% of microbes and germs. This is part of BEDGEAR’s longstanding commitment to provide sleepers with clean, and safe products that deliver a healthy sleep environment. Central to the Germ Shield Protector is Polygiene’s proven technology that suppresses the build-up of germs, bacteria and odor.
     
  • HSP Hanse Shopping launches a new range of such products, all treated with Polygiene’s ViralOff®. This reduces the need to hot wash or even discard them, out of concern for viruses and other microbes. The products are intended for the mass market in Europe and North America, through supermarkets and other mass retail outlet, to be made available at over 50 000 retail stores in Europe and almost 100 000 retail stores in the US.

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 08.00 CET on November 5, 2020.

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For press images and more information, visit ir.polygiene.com or contact:
Nina Forsvall, CFO
Tel: +46 (0) 72 550 88 11
E-mail: nina@polygiene.com 

Ulrika Björk, CEO
Tel: +46 (0) 70 921 12 75
E-mail: ubj@polygiene.com

About Polygiene
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: polygiene.com. Erik Penser Bank AB acts as its Certified Adviser. Phone: 08-463 83 00, E-mail: certifiedadviser@penser.se.

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