| Headline: | Interim Report Q3 2024 |
| Location: | SE |
| Post Date: | Nov 29, 2024 12:04 PM |
| TAG ID: | awire177771 |
| DocID: | 948712 |
| Word Count: | approx. 413 words |
| Full story: | |
| STOCKHOLM, SWEDEN / ACCESSWIRE / November 29, 2024 / STRAX (STO:STRAX)(FRA:NOBC) STRAX - Challenges remain, whilst the objective to save and rebuild the company remains intact The Group's sales for the period January 1 - September 30, 2024, amounted to MEUR 7.4 (25.0) with a gross margin of -65.0 (4.3) percent. The Group's result for the period January 1 - September 30, 2024, amounted to MEUR -1.9 (-25.5) corresponding to EUR -0.02 (-0.24) per share. EBITDA from continuing operations for the period January 1 - September 30, 2024, amounted to MEUR -1.5 (-22.0). Equity as of September 30, 2024, amounted to MEUR -73.6 (-33.6) corresponding to EUR -0.61 (-0.28) per share. As of September 30, 2024, STRAX is not fulfilling the special conditions in the loan agreement with PCP due to the development of profitability and financial position in the Group. STRAX board and management are working closely with PCP on a plan to return to compliance of the agreement. Significant events after the end of the period STRAX completed an asset purchase agreement to acquire select assets from the insolvency estate of Strax GmbH in Germany. The transaction scope covers the two sales entities in Scandinavia, and some consumer accessories brands. The purchase price is KEUR 285, plus service fees. "The effort to stabilize and save STRAX remains our top priority. We have made significant progress in minimizing operating expenses to essential levels and are actively pursuing strategies to reduce debt and improve liquidity." Gudmundur Palmason, CEO For further information For further information please contact Ingvi T. Tomasson, Chairman and co-founder, STRAX AB, +354 698 2277. About STRAX STRAX engages in accessories that empower mobile lifestyles. Our portfolio of branded accessories covers the main mobile accessory categories: Protection, Power, Connectivity, as well as Personal Audio. Own brands are Xqisit and Flavr. Our distribution business retains a broad reach in the Americas and the Nordics. Our distribution also services other mobile accessory brands. STRAX has evolved since being founded as a trading company in 1995. Today we have approximately 15 employees in 4 countries. STRAX is listed on the Nasdaq Stockholm stock exchange. Divested own brands consist of Urbanista, Gear4, Clckr and Planet Buddies. 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 2024-11-29 17:50 CET. Attachments Q3 2024 SOURCE: STRAX View the original press release on accesswire.com |
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