STOCKHOLM, Aug. 28, 2019 /PRNewswire/ --
STRAX Q2 2019 driven by Urbanista and cost reductions
implemented in 2018
- The Group's sales for the period January
1 – June 30, 2019, amounted to
MEUR 44.6 (45.8), corresponding to a decrease of 2.6 percent, with
a gross margin of 24.6 (32.5) percent.
- The Group's result for the period January 1 – June 30,
2019, amounted to MEUR -3.2 (-0.9) corresponding to
EUR -0,02 (0.00) per share. Equity as
of June 30 2019 amounted to MEUR 18.3
(20.9) corresponding to EUR 0.17
(0.18) per share.
- EBITDA for the period January 1 –
June 30, 2019, amounted to MEUR 2.1
(2.6).
- Year over year reduction in OPEX amounts to MEUR 3.2 for H1
2019 as a result of cost reductions implemented in 2018,
corresponding to approximately 25 percent, and tracking towards
MEUR 7-8 reduction in 2019.
- Sales and gross margins declined in H1 2019 following the sale
of Gear4, as expected. STRAX does not expect sales to materially
decline in 2019 despite the sale of Gear4 and gross margin is
expected to remain stable or improve in 2019.
- The positive development of Urbanista continued in Q2 2019 with
YoY growth of 80%, creating valuable asset for STRAX.
- During the first six months interest-bearing debts decreased by
MEUR 12 as a result of repayment of loans and lower utilization of
working capital lines.
- With the effective date of April 1,
2019, STRAX acquired all outstanding shares in Brandvault, a
business focused on sales through e-commerce marketplaces
globally.
"I'm pleased with our Q2 2019 performance in a challenging
external environment. Most of our geographic markets held up in
terms of sales, whilst the strong development for Urbanista with
80% YoY quarterly sales growth increased its significance of sales
and profitability for the group. Our aggressive OPEX reduction in
2018 also contributed to profitability during the quarter and we
are on track to deliver the previously communicated MEUR 7-8 in
cost savings this year."
Gudmundur Palmason, CEO
This is information that Strax AB is obliged to make public
pursuant to the EU Market Abuse Regulation and the Securities
Markets Act. The information was submitted for publication, through
the agency of the contact person set out above, at 08:55 CEST on August 28,
2019.
About STRAX
STRAX is a market-leading global
company specializing in mobile accessories. STRAX has built a House
of Brands to complement its value-added customer specific solutions
and services. STRAX House of Brands includes proprietary brands:
XQISIT, Urbanista, THOR, Clckr and licensed brands: adidas and
bugatti. In addition, STRAX represents over 40 major mobile
accessory brands. STRAX sells into all key channels ranging from
telecom operators, mass merchants and consumer electronics to
lifestyle retailers and direct to consumers online. STRAX was
founded in Miami and Hong Kong in 1995 and has since grown across
the world. Today, STRAX has 190 employees in 13 countries with its
operational HQ and logistics center based in Germany. STRAX is listed on the Nasdaq
Stockholm Stock Exchange.
For further information please contact:
Gudmundur Palmason
CEO
STRAX AB
Telephone: +46-8-545-017-50
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SOURCE Strax