Polygiene Group AB (publ.) Interim Report January 1 – March 31, 2023

Strong gross margin and break-even at EBITDA level despite lower sales

Net sales for the quarter totaled MSEK 28.0 (45.1), corresponding to a 37.9 % decline compared to 2022. However, the gross margin was solid at 76.4 (67.1) %. The quarterly operating profit, (EBITDA), amounted to MSEK -0.2 (9.3) for an EBITDA margin of -0.6 (20.7) %. Cash flow was negative at MSEK -1.2.
 

The quarter in brief (January - March 2023)

• Net sales amounted to MSEK 28.0 (45.1). There is an exchange rate impact of approximately 2 % in the quarter compared to last year
• The gross margin was 76.4 (67.1) %
• Operating profit before depreciations (EBITDA) amounted to MSEK -0.2 (9.3)
• Operating profit after depreciations and before tax (EBIT) amounted to MSEK -2.8 (3.8)
• The cash flow amounted to MSEK -1.2 (1.4) (-0.6 including FX impact). Cash and cash equivalents amounted to MSEK 47.6 (54,0)

Significant events during the quarter in brief (January - March 2023)

• Polygiene Group acquired the former distributor Biomaster US
• Strategic distribution agreement with N9 World Technologies Pvt Ltd in India
• Polygiene Technologies can reduce environmental impact by a third
• Polygiene Group has signed an agreement with a new distributor in China
• Rajesh Varma announced his resignation from the board on March 8, 2023
• Polygiene has partnered with aftercare specialists Storm Care Solutions Ltd
• Polygiene StayFresh^TM is now included in MP Activewear’s entire Tempo Ultra collection
• Polygiene continues its collaboration with O’Neill for their SS23 training collection
• Polygiene partners with Warwick Music Group to bring a new type of antimicrobial recorder
• Continued collaboration with Ricardo Beverly Hills on their new Essentials 5.0 Travel Organizers
• Polygiene participated in the Innovation Day organized by The Society of Food Hygiene and Technology
• For the first time Polygiene participated in Colombiatex, together with our partner CEColor

Events after the quarter

• Polygiene Group anticipates lower sales in the period January 1 to March 31, 2023
• Polygiene joins the influential European Outdoor Group (EOG)

The report is enclosed in this press release and is available to download on ir.polygiene.com

You can register to a video conference presenting the report at April 27 15.00 CET HERE.

This information is information that Polygiene Group 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 April 27, 2023 

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