Polygiene AB (publ.) Interim Report 1 January–31 March 2020

Publish date: 7 May 2020

A quarter impacted by Covid-19 and new opportunities

Q1 in brief

  • Positive growth due to increased net sales by 4.4 % during the quarter compared to the same period last year and amounted to MSEK 17.4 (16.7).
  • The operating profit/loss before tax for the period is improved compared to the same period last year and amounted to MSEK 0.2 (-1.1).
  • The gross margin has decreased at 67.2 (67.6) %.
  • Cash flow of the first quarter was positive and amounted to MSEK 2.2 (6.4).
  • ViralOff has launched as a new brand.

Events during Q1 2020 (Jan-Mar)

  • New CFO, Nina Forsvall, starts her service on January 1.
  • The entire first quarter has been affected by the novel Corona virus situation in the world. Polygiene has initially seen a delay in order bookings and a complicated logistics chain with increased freight costs as a result. At the same time, there has been a growing interest in Polygienes´ product which has antiviral properties.
  • The novel Corona virus has increased the demand for facemasks immensely. The Polygiene biostatic stays fresh treatment is already present in the Airinum design facemasks. Airinum places an additional order to keep up with the demand of their face masks that are out of stock.
  • Sportswear producer O´Neills of Northern Ireland is treating an initial order of scrubs with Polygiene biostatic stays fresh technology, that is active against both bacteria and virus.*

Significant events after Q1
Polygiene launches ViralOff, a Polygiene technology with antiviral capability. The application for ViralOff will range from medical equipment and wear like scrubs and uniforms, to consumer products where antiviral properties make sense like face masks, gloves and other crucial products.

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 May 7, 2020.

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For press images and more information, visit ir.polygiene.com or contact:
Nina Forsvall, CFO
Tel: +46 (0) 72 550 88 11
E-mail: nina@polygiene.com 

Ulrika Björk, CEO
Tel: +46 (0) 70 921 12 75
E-mail: ubj@polygiene.com

About Polygiene
As the world leader in stay fresh and odor control technologies, we want to change the way we view clothes – from fast consumables to durables. We treat clothes, home products and textiles to help people stay fresh, stay healthy, wash less and allow clothes and products to deliver their safety properties longer. Over 140 global premium brands have chosen to use the Polygiene brand with their products. Polygiene is listed on Nasdaq First North Growth Market in Stockholm, Sweden. For more information: www.polygiene.com. Erik Penser Bank AB acts as its Certified Adviser. Phone: 08-463 83 00, E-mail: certifiedadviser@penser.se.

Polygiene AB (publ.) Interim Report 1 January–31 March 2020 (PDF)
Polygiene Q1 2020 PM ENG 20200507