Polygiene AB (publ.) Interim Report 1 January–31 March 2019

Publish date: 17 May 2019

Continued improvement of operating profit and positive cash flow

Q1 in brief

  • Net sales increased by 7.9% (0.0%) during the first quarter compared to the same period last year and amounted to MSEK 16.7 (15.5).
  • The operating profit/loss after tax for the period improved compared to same period last year and amounted to MSEK -0.9 (-1.7).
  • The gross margin continued to be strong and amounted to 67.7% (66.6%).
  • Cash flow for the first quarter amounted to MSEK 6.5 (2.7).
  • A transfer of intangible assets (MSEK 2.3) has been adjusted over the shared capital when trademark registrations were incorrectly activated in the balance sheet.
  • At the end of the quarter, the company’s operational organization consisted of 20 (18) employees.

Significant events in brief

Events during Q1 2019 (Jan-Mar)

  • Our new product, Polygiene Odor Crunch, is launched at ISPO, the world’s largest trade fair for sports equipment and sportswear. Mats Georgson, PhD and CMO, held several sessions where he discussed disruptive technologies, sustainability and the new product launch with the media and the sports industry.
  • Polygiene strengthens the organization in the Asian Market, welcoming Vishal Bhandari as Technical Director based in India. Vishal has vast and well-documented experience from the textile industry. Prior to joining Polygiene, he was area manager for South Asia at Sciessent LLC and was responsible for technical support, sales and marketing.
  • Polygiene Stays Fresh Technology is now available in uniforms for the South Korean and South Asian markets through our partner, TOV The Garment Maker Co. Ltd.
  • With the recruitment of Henry Krause as Technical Director based in Chile, the Polygiene technical organization has expanded to provide coverage for the growing market in Central and South America, and the US. With more than 20 years of experience in the performance chemicals and textiles industry, Henry has been responsible for sales, product development and technical support in companies such as Sciessent LLC and Nanotex.
  • Polygiene AB and Kristian Populin have reached an agreement to end his employment as the company’s CFO, effective March 20, 2019.

Significant events after Q1

New York-based clothing brand M.M.LaFleur launched Polygiene in its clothing line for businesswomen. This high-end brand offers garments and personal styling that make it easy for women to dress for work.

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 17 May 2019.