Polygiene Group AB (publ.) Interim Report October 1 - December 31, 2022
Sales stabilize despite a challenging world situation
Despite the world situation, we are able to keep our positions and deliver turnover at the same level as previous quarter. This can be considered satisfactory since historically, revenues in the last quarter of every year tend to be lower than in other quarters. To finance new key recruitments and stand stronger in 2023, a restructuring program was carried out in December. This resulted in company layoffs of four staff members. Two others also left the company in January, bringing the number of staff members lost due to employee attrition to six (-12 %) compared to the previous quarter.
The quarter in brief (October - December 2022)
Net sales amounted to MSEK 40.0 (40.2), there is an exchange rate impact of +10% in the quarter compared to last year
The adjusted gross margin was 67.3 (67.9) %, excluding an inventory adjustment of approx. MSEK -1 belonging to previous periods
The adjusted operating profit before depreciations (EBITDA) amounted to MSEK 1.9 (4.4), excluding the above inventory adjustment and non-recurring costs of MSEK 2.7. The non-recurring costs consist of restructuring costs, acquisition cost of Biomaster US and cost for ending a customer contract
The adjusted operating profit after depreciations and before tax (EBIT) amounted to MSEK -2.7 (3.9), excluding the above non-recurring costs of MSEK -3.7. The result includes a negative exchange impact of MSEK -3.4 (0.3)
The cash flow amounted to MSEK -6.6 (2.7). Cash and cash equivalents amounted to MSEK 48.2 (52.6)
Polygiene® and Montane launch ISPO Collaborators Club product test
European Outdoor Summit attendees receive an initial presentation of Polygiene's LCA study.
NIO launches new subscription model to users in Europe
FIAT launches with Polygiene Product Protection
Polygiene acquires Biomaster® US with a focus on Product Protection and hard surfaces
Functional Fabric Fair a success in Portland, OR, USA
Performance Days in Munich, Germany, deepens relations and opens new doors at the leading textile fair for Europe
Polygene launches Mindful Living™ at ISPO
- Polygiene welcomes Bart Kennedy as Commercial Director
Strategic distribution deal with Resil, India takes Polygiene into one of the world's biggest marketplaces
Polygiene technologies can reduce environmental impact by one third according to new LCA study
Polygiene Group signs deal with STT, a new Chinese distributor in China
Ricardo Beverly Hills to launch the next generation of travel accessories
You can register to a video conference presenting the report today at 10.00 CET LINK (https://docs.google.com/forms/d/e/1FAIpQLSfwP9lWRbXv5ZP8HgoAGtFCGN_4rJuAQA2d_6UGXFBoXdQSfw/viewform)
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 February 16, 2023
For more information, visit ir.polygiene.comor contact:
Niklas Blomstedt CFO. Mobile: +46 (0) 706 63 21 26 Email: niklas.blomstedt@polygiene.com
Ulrika Björk CEO. Mobile: +46 (0) 70 921 12 75 E-mail: ulrika.bjork@polygiene.com
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