Polygiene AB (publ.) Interim Report 1 April–30 June 2019

Publish date: 29 aug 2019

Continued strong gross margins despite weaker growth and improved cash flow compared to the same period last year.

Q2 in brief

  • Net sales decreased by 24.2 % during the second quarter compared to the same period last year and amounted to MSEK 12.6 (16.6). Adjusted from the divestment of Protectice surfaces, the corresponding figure is – 19.3 %.
  • The operating profit/loss after tax for the period weakened compared to the same period last year and amounted to MSEK -4.3 (-1.6).  
  • The gross margin improved compared to the same quarter last year with 72.0 (62.5 ) %.
  • The other external cost excluding variable expenses decreased with 17 %.
  • Cash flow of the second quarter amounted to MSEK -2.2 (-4.2).
  • At the end of the quarter, the company’s operational organization consisted of 19 (16) employees.

Significant events in brief

Events during Q2 2019 (April-June)

  • The Innovative North American brand M.M.LaFleur launches a collection with Polygiene. This marks another milestone on the road into lifestyle and fashion, where both volumes and positive environmental effects are great.
  • Polygiene starts a collaboration with Callaway Apparel in the USA. Callaway is a market leader in golf apparel, owned by Perry Ellis International.
  • Polygiene is awarded the prestigious ”2019 Sustainability Award” by the Scandinavian Outdoor Group (SOG) for the new Odor Crunch functionality.
  • Polygiene appoints the industry veteran, opinion leader and sustainability expert Dr. Pamela Ravasio to its Advisory Board.
  • Mats Georgson, PhD, CMO in Polygiene took part in a panel discussion at the Functional Fabric Fair in New York City, together with industry leaders. The topic was the past, present and future of the textile industry and how it should address the future challenges, especially in relation to sustainability and environmental effects in general. The auditorium agreed that Polygiene holds a very central role for addressing these.
  • The new Korean partner TOV The Garment Maker Ltd. Launched a line of treated uniforms in April 2019 under their own brand HyperOps. Uniforms for store staff and other tougher environments like those in emergency services and the military is a growing market. Such clothes are often washed only weekly or even less often, so the utility of Polygiene is quite apparent.

Significant events after Q2

  • The The Brazilian partner Conquista Montanhismo launched a collection with Polygiene Stays Fresh Technology. This is the leading and most known brand in Outdoor in Brazil, with the iconic mountaineer Edemilson Padilha as founder and CEO. Their products are made in Brazil and are sold in retail and online all over the country.
  • Polygiene grows in China with Commercial and Marketing Appointments. With the appointments of Jenny Zhu as Commercial Director and Amy Dai as Marketing and Supply Chain Manager in Shanghai, Polygiene is adding key competence to further strengthen the sales and technical organization in China.

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 09.00 CET on Aug 29 2019.

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