Interim report no. 3 for fiscal yr 2021

STOCKHOLM, SWEDEN / ACCESSWIRE / November 25, 2021 /

STRAX gross sales maintain regular, whereas margin underneath stress attributable to influence of Covid-19 on trade

  • Group gross sales for the interval January 1 to September 30, 2021 amounted to 81.8 MEUR (76.7) with a gross margin of 16.2 (25.5) p.c.
  • The Group’s revenue for the interval from January 1 to September 30, 2021 quantities to EUR -1.3 million
    (-0.9) comparable to -0.01 EUR (-0.01) per share.
  • EBITDA for the interval from January 1 to September 30, 2021 quantities to 2.7 MEUR (4.9).
  • Shareholders’ fairness at September 30, 2021 amounted to 17.2 MEUR (17.5) comparable to 0.14 EUR (0.14) per share.
  • Urbanista, a subsidiary of STRAX, the Swedish audio way of life model, introduced Urbanista Los Angeles, the world’s first self-charging wi-fi lively noise canceling headphones, powered by the Powerfoyle ™ photo voltaic cell materials. Utilizing cutting-edge inexperienced know-how, Los Angeles converts all types of gentle, out of doors and indoor, into power for just about infinite playtime.
  • STRAX launched the Dóttir model solely on-line, with a brand new line of true sports-focused wi-fi headphones. The model was developed with CrossFit champions Annie Thorisdottir and Katrin Davidsdottir.
  • The primary product, the Dóttir Freedom On-Grid in-ear headphones, has already obtained the Pink
    Dot Award for product design.

Vital occasions subsequent to closing

  • STRAX launched the online-only model, grell, with the primary product being true wi-fi headphones. The model was developed with world-renowned audio engineer and headphone designer Axel Grell, who has designed headsets to provide world-class sound for greater than three many years, most notably at Sennheiser.
  • Because of the compression of the margin through the third quarter of 2021, the group didn’t respect one of many monetary covenants of the mortgage settlement with PCP on September 30, 2021. After the top of the interval, a waiver for the breach was granted. The truth that the waiver was granted after the top of the interval has the impact underneath IFRS that the corresponding interest-bearing debt is introduced as present on the steadiness sheet as at September 30, 2021.

“Our gross sales held up properly and grew 6.7% year-on-year. Nevertheless, we proceed to be affected by the Covid-19 pandemic and the ensuing trade dynamics, each on the availability and demand facet, which is negatively impacting our contribution. revenue margin. On a extra constructive notice, we’ve not skilled any erosion of product-level margins, and we anticipate these tough macroeconomic elements to start to normalize in 2022. “

Gudmundur Palmason, CEO

For extra info, please contact:

Gudmundur Palmason
CEO, STRAX AB, +46 8 545 017 50

About STRAX

STRAX is a world chief in equipment that empower cellular existence. Our branded equipment portfolio covers all main classes of cellular equipment: safety, energy, connectivity, in addition to private audio. Our new Well being & Nicely-being class gives branded private safety merchandise. Our distribution exercise reaches a big buyer base, by way of 70,000 bodily shops world wide, in addition to by way of on-line marketplaces and direct-to-consumer gross sales.

Wholly owned manufacturers embody Urbanista, Clckr, Richmond & Finch, Planet Buddies, xqisit, AVO +, Dóttir and grell, and licensed manufacturers embody adidas, Bugatti, Diesel, Superdry and WeSC. Our distribution exercise additionally serves greater than 40 different main manufacturers of cellular equipment.

Based as a buying and selling firm in 1995, STRAX has since grown worldwide to turn out to be a world branding and distribution firm. Immediately we’ve greater than 200 workers in 13 international locations. STRAX is listed on the Nasdaq Stockholm Inventory Alternate.

This info is info that STRAX is obliged to make public underneath the EU Market Abuse Regulation. The knowledge has been submitted for publication, by way of the contact individuals indicated above, on 11/25/21 08:55 CET.

Attachments

Interim report no. 3 for fiscal yr 2021

THE SOURCE: STRAX

See the supply model on accesswire.com:
https://www.accesswire.com/674696/Interim-Report-no-3-for-Monetary-Yr-2021

About Edith J.

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