Polygiene AB (publ.) interim Report July 1–September 30, 2019

Publish date: 7 Nov 2019

Record quarter, improved earnings and positive cash flow

Q3 in brief

  • Net sales for the third quarter was MSEK 20.5 (18.3), up 12% compared to the same period last year. When adjusted against the proceeds from the divestment of Protective Surfaces, the corresponding increase is 20%.
  • Operating income for the third quarter amounted to MSEK 2.0 (0.6), up from the same period last year.
  • The gross margin is in line with last year at 69.9 (70.1)%.
  • Cash flow this quarter was positive at MSEK 1.8 (0.4).
  • At the end of the quarter, 19 (19) employees comprised the company’s operational organization.

Events during Q3 2019 (July-Sept)

  • Brazilian partner Conquista Montanhismo launched collection with Polygiene Stays Fresh Technology. The climbing and outdoor company Conquista Montanhismo is a benchmark in the outdoor market in Brazil with the well-known iconic climber Edemilson Padilha as founder and CEO of the company. The products are entirely domestically produced and sold in retail throughout Brazil and online.
  • 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.
  • Polygiene announces its partnership with one of the world’s leading designer lifestyle brands Tommy Hilfiger, which is owned by PVH Corp. Polygiene Stays Fresh Technology will be introduced in Spring 2020 TOMMY SPORT men’s and women’s tops, shorts and tank tops.
  • Polygiene is launching with industry leader, UNTUCKit® to further expand their position and leadership as a category disruptor in the dress shirt business. The new Polygiene ® Stays Fresh treated shirts launched in September with UNTUCKit’s Wrinkle-Free Performance collection with plans to continue expanding in future seasons.
  • Polygiene is for the first time launching unique performance socks, treated with the Polygiene Stays Fresh combination product, with Korean partner VTINON.

Significant events after Q3

  • Polygiene is proud to present the partnership with Brazilian brand, Osklen and the launch of a limited edition run of their classic black t-shirts with Polygiene.
  • Polygiene (Shanghai) Ltd has been registered as a wholly owned subsidiary of Polygiene (Hong Kong) Ltd. Polygiene (Shanghai) Ltd will primarily conduct sales and marketing activities in China.
  • Nina Forsvall has been appointed as CFO of Polygiene AB and, as of January 2, 2020, will assume her duties.

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 November 7, 2019.

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