|Headline:||Interim Report Q3 2022|
|Post Date:||Nov 24, 2022 3:23 AM|
|Word Count:||approx. 523 words|
STOCKHOLM, SE / ACCESSWIRE / November 24, 2022 / STRAX (STO:STRAX)(FRA:NOBC) STRAX - still facing challenges but actions taken and a positive outlook for 2023
The Group's sales for the period January 1 - September 30, 2022, amounted to MEUR 83.2 (65.1) with a gross margin of 20.6 (19.0) percent.
The Group's result for the period January 1 - September 30, 2022, amounted to MEUR -6.4 (-1.3) corresponding to EUR -0.05 (-0.01) per share.
EBITDA from remaining operations for the period January 1 - September 30, 2022, amounted to MEUR 4.9 (4.0).
Equity as of September 30, 2022, amounted to MEUR 4.7 (17.1) corresponding to EUR 0.04 (0.14) per share.
Following a decision by the board of directors in September 2022 to have a more focused strategy and simplified group operating structure, these brands and businesses are reported as discontinued operations: own brands Dóttir and grell, licensing business under Telecom Lifestyle Fashion, and the Health and Wellness business.
External factors continued to have negative impact on sales of own mobile accessories and personal audio products, whilst sales of lower margin health products remained relatively stable. Our average blended gross margin does therefore remain compressed relative to those we achieved prior to the Covid-19 pandemic.
"The new streamlined STRAX is well positioned for profitable growth and all the remaining own brands have a sound potential for continued expansion, particularly in North America. By focusing on the European distribution business and fewer brands we will be able to enhance efficiency, growth, and profitability as we are freeing up both resources and management attention. Some of the businesses that will be divested also have viable commercial potential, but we believe those will benefit more under a different ownership. We don't expect the divestments to generate any losses."
Gudmundur Palmason, CEO
This information is information that STRAX AB 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 above, at 08:55 CET on November 24, 2022.
For further information please contact:
Gudmundur Palmason CEO, STRAX AB, +46 8 545 017 50
STRAX is a global leader in accessories that empower mobile lifestyles. Our portfolio of branded accessories covers all major mobile accessory categories: Protection, Power, Connectivity, as well as Personal Audio. Own brands are Urbanista, Clckr, Planet Buddies and RichmondFinch. Our distribution business reaches a broad customer base, through 70 000 brick and mortar stores around the globe, as well as through online marketplaces and direct-to-consumers. Our distribution business also services over 40 other major mobile accessory brands.
Founded as a trading company in 1995, STRAX has since expanded worldwide and evolved into a global brand and distribution business. Today we have over 200 employees in 13 countries. STRAX is listed on the Nasdaq Stockholm stock exchange.
Discontinued operations include Health & Wellness, own brands Dóttir and grell, and licenced brand portfolio of adidas and Diesel.
This information is information that STRAX is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-11-24 08:55 CET.
STRAX Q3 2022
SOURCE: STRAX View source version on accesswire.com: https://www.accesswire.com/728220/Interim-Report-Q3-2022