Polygiene Group AB (publ.) Interim Report January 1 – March 31, 2023
Strong gross margin and break-even at EBITDA level despite lower sales
Net sales for the quarter totaled MSEK 28.0 (45.1), corresponding to a 37.9 % decline compared to 2022. However, the gross margin was solid at 76.4 (67.1) %. The quarterly operating profit, (EBITDA), amounted to MSEK -0.2 (9.3) for an EBITDA margin of -0.6 (20.7) %. Cash flow was negative at MSEK -1.2.
The quarter in brief (January - March 2023)
- Net sales amounted to MSEK 28.0 (45.1). There is an exchange rate impact of approximately 2 % in the quarter compared to last year
- The gross margin was 76.4 (67.1) %
- Operating profit before depreciations (EBITDA) amounted to MSEK -0.2 (9.3)
- Operating profit after depreciations and before tax (EBIT) amounted to MSEK -2.8 (3.8)
- The cash flow amounted to MSEK -1.2 (1.4) (-0.6 including FX impact). Cash and cash equivalents amounted to MSEK 47.6 (54,0)
Significant events during the quarter in brief (January - March 2023)
- Polygiene Group acquired the former distributor Biomaster US
- Strategic distribution agreement with N9 World Technologies Pvt Ltd in India
- Polygiene Technologies can reduce environmental impact by a third
- Polygiene Group has signed an agreement with a new distributor in China
- Rajesh Varma announced his resignation from the board on March 8, 2023
- Polygiene has partnered with aftercare specialists Storm Care Solutions Ltd
- Polygiene StayFreshTM is now included in MP Activewear’s entire Tempo Ultra collection
- Polygiene continues its collaboration with O’Neill for their SS23 training collection
- Polygiene partners with Warwick Music Group to bring a new type of antimicrobial recorder
- Continued collaboration with Ricardo Beverly Hills on their new Essentials 5.0 Travel Organizers
- Polygiene participated in the Innovation Day organized by The Society of Food Hygiene and Technology
- For the first time Polygiene participated in Colombiatex, together with our partner CEColor
Events after the quarter
- Polygiene Group anticipates lower sales in the period January 1 to March 31, 2023
- Polygiene joins the influential European Outdoor Group (EOG)
The report is enclosed in this press release and is available to download on ir.polygiene.com
You can register to a video conference presenting the report at April 27 15.00 CET HERE.
This information is information that Polygiene Group 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 April 27, 2023
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For more information, visit ir.polygiene.com or contact:
Niklas Blomstedt, CFO. +46 (0) 706 63 21 26, niklas.blomstedt@polygiene.com
Ulrika Björk, CEO. +46 (0) 70 921 12 75, ulrika.bjork@polygiene.com
ABOUT US:
Polygiene Group™ is the global leader in antimicrobial technologies and odor control solutions. We treat hard surfaces and textiles to ensure that your products are better protected and remain more hygienic, and you remain confidently fresh and odor-free. As the ingredient brand of choice, we work with over 500 global premium brands within our business areas of Product Protection and Freshness. We provide a wide range of technologies that increase the value of our customers products and enable consumers to live a more mindful life. We offer solutions and treatments for products with technologies such as: OdorCrunch, StayFresh, ScentMaster, ViralOff, BioMaster and VeriMaster. Polygiene Group is listed on the Nasdaq First North Growth Market in Stockholm, Sweden. For more information: www.polygiene.com
Svensk Kapitalmarknadsgranskning AB is the Company's Certified Adviser.