Polygiene AB (publ.) Interim Report 1 october–31 december 2018

Publish date: 28 feb 2019

Streamlining operations and a positive year-end

Q4 in brief

  • The operating income increased with 9,2% during the fourth quarter compared to the same period the last year and amounted to MSEK 18.6 (17.1). Year 2018 was amounted to MSEK 69.0 (66.1).
  • Operating profit/loss (EBIT) for the period, excluding the sales of the Protective Surfaces business area amounted to MSEK 0.5 (0) and for the whole year, to MSEK -2.8 (-6.1).
  • As part of a streamlining of the business, the Protective business area has been divested, which brought in revenue of MSEK 10.6.
  • The cash flow of the fourth quarter amounted to MSEK -6.2 (-4.5).
  • The company’s operating organisation was consisted with 18 (18) people in the end of the quarter.

Events during Q4 2018 (October-December)

  • Polygiene, the world-leading provider of odor control technology and Stays Fresh solutions, is opening a subsidiary, Polygiene Hong Kong Ltd, in Hong Kong, China. This is done with the aim to further strengthen the presence of the company in one of the leading and most dynamic markets in the world.
  • Yonex co., Ltd, the world leading manufacturer of golf, tennis and badminton equipment and apparel, have signed an agreement to use Polygiene Stays Fresh Technology in their products.
  • Polygiene opens up the home textile market in the US with new partner Sunham Home Fashions. Sunham Home Fashions is one of the largest importers of home textile products in the United States.
  • Polygiene enters Brazil, the fifth largest textile producer in the world, with two Sao Paolo based key representatives brought on board to launch the global leader in Stays Fresh technology.
  • The business category of Protective Surfaces is sold off as part of a streamlining of the business

Significant events after Q4

  • The new product, Polygiene Odor Crunch will be presented at ISPO, the world’s largest trade fair for sporting goods and sportswear, taking place Feb 3-6 in Munich, Germany.
  • With the appointment of Vishal Bhandari, Technical Director covering South Asia, Polygiene is strengthening its technical support organization in the important Asian market.
  • Positive cash flow in January and February.

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 28 February 2019.

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