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

Publiceringsdatum: 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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For the full report, please read the attached PDF. For more information, contact:
Polygiene’s IR by email: ir@polyiene.com 
Ulrika Björk, CEO, Mobile: +46 (0) 70 921 12 75, e-mail: ubj@polygiene.com 
Kristian Populin, CFO, Mobile: +46 (0) 72 396 64 81, e-mail: kp@polygiene.com

About Polygiene
Polygiene is the world-leading provider of odor control technology and Stays Fresh solutions for clothing, sports equipment, lifestyle, textiles and other materials to help people stay fresh and confident. Polygiene brings the Scandinavian values of quality and care for the environment to life through its products and services. More than 140 global premium brands have chosen to use Polygiene Stays Fresh Technology in their products. Polygiene was established in 2006 and is listed on Nasdaq First North in Stockholm, Sweden. Erik Penser Bank AB acts as its Certified Adviser, phone: +46 8 463 83 00, e-mail: certifiedadviser@penser.se.

Polygiene AB (publ.) Interim Report 1 october–31 december 2018 (PDF)
Polygiene PM Q4 2018 EN 20190228