STRAX: YEAR-END REPORT FOR THE FINANCIAL YEAR 2016
Strax, the mobile accessory brand specialist, delivers strong growth and improved profitability
The Group’s sales for the period January 1 – December 31, 2016, amounted to MSEK 868.2 (747.6) corresponding to a growth of 16.1 (18.3) percent. The gross margin amounted to 28.0 (24.5) percent.
The Group’s result for the period January 1 – December 31, 2016, amounted to MSEK 30.3 (11.5) corresponding to SEK 0.26 (0.10) per share. Equity as at December 31 2016 amounted to 173.5 (98.4) corresponding to SEK 1.47 (0.84) per share.
The Group’s sales for Q4, October 1 – December 31, 2016, amounted to MSEK 253.9 (218.8) corresponding to a growth of 16.0 (2.0) percent. The gross margin amounted to 29.5 (24.6) percent.
The Parent Company’s result for the period January 1 – December 31, 2016, amounted to MSEK 50.3 (34.3). Equity as at December 31, 2016, amounted to MSEK 709.9 (238.6) corresponding to SEK 6.0 (6.4) per share.
The development during 2016 in Strax has been positive with growth in sales of approximately 16 percent, and an increase in operating profit of approximately 43 percent. This trend, coming on the back of increased distribution of proprietary Strax brands, is expected to continue in the coming years with Gear4 leading the way.
During Q4 Strax entered into a partnership with Vodafone, through acquisitions as well as through a direct contract on proprietary Strax brands. Other significant events include the launch of the FLAVR and Thor brands and renewal of contract with D3O®.
“2016 has been a transformative year for Strax. We have created a platform for continued profitable growth and set ourselves aspirational 2020 objectives backed by sound strategic framework and engaged staff. We deliver!”
Gudmundur Palmason, CEO
This information is information that Strax AB 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 08:55 CET on February 23, 2017.
For further information please contact Gudmundur Palmason, CEO, Strax AB, +46 8 545 01750
About Strax
STRAX is a global company specializing in mobile accessories and connected devices. STRAX is listed on the Nasdaq Stockholm Stock Exchange. STRAX offers proprietary, licensed and partner branded accessories. The proprietary brands include XQISIT, GEAR4, Urbanista, THOR, AVO+ and FLAVR. The company represents over 30 major OEM as well as mobile accessories brands and sells to a wide channel landscape ranging from telecom operators, specialized mobile and consumer electronics retailers to online, lifestyle, convenience stores and supermarkets. STRAX was founded in Miami and Hong Kong in 1995 and has since grown significantly across the globe. STRAX now has over 185 employees in 12 countries and its operational HQ and logistics center is based in Germany.