ACCESS Newswire
25 May 2022, 12:55 GMT+10
STOCKHOLM, SE / ACCESSWIRE / May 25, 2022 / STRAX (STO:STRAX) (FRA:NOBC)
STRAX delivered sales of MEUR 39.9 and MEUR 1.5 in EBITDA in Q1 2022
The Group's sales for the period January 1 - March 31, 2022, amounted to MEUR 39.9 (28.1) with
a gross margin of 17.7 (18.5) percent.
The Group's result for the period January 1 - March 31, 2022, amounted to MEUR -0.7 (-1.4) corresponding to EUR -0.01 (-0.01) per share.
EBITDA for the period January 1 - March 31, 2022, amounted to MEUR 1.5 (0.3).
Equity as of March 31, 2022, amounted to MEUR 13.3 (17.8) corresponding to EUR 0.11 (0.15) per share.
Covid-19 continued to have negative impact on sales of own mobile accessories and personal audio products, whilst increasing sales of lower margin health products. This unfavourable brand and product mix coupled with various global supply chain disruptions has caused a drop in gross margin for the period.
STRAX entered a partnership with a German personal protective equipment specialist company to deliver Covid-19 tests to a regional government body in Germany.
STRAX extended its partnership with the German personal protective equipment specialist company to deliver Covid-19 tests to another regional government body in Germany. The total value of the contract has increased and will be covering a 24-month period, where total volumes are expected to be higher but initially lower volumes in Q2.
AirPop, the premium high performance face mask brand STRAX holds a five-year global exclusive distribution agreement for, recently secured key retail channels in the United States, Canada, and Australia.
Significant events after the end of the period
CLCKR, the mobile phone accessory brand, wholly owned by STRAX announced that their range of mobile stand and grip accessories are now available in over 10,000 stores in the US.
'The first quarter of 2022 was relatively strong overall, albeit not without significant external challenges such as the ongoing Covid-19 pandemic and the military conflict in Ukraine. The current macro-economic climate will prolong full market recovery and increase uncertainty as to what a 'new normal' will look like, although we are more certain than ever that it will be materially different.'
Gudmundur Palmason, CEO
For further information please contact:
Gudmundur Palmason
CEO, STRAX AB, +46 8 545 017 50
About STRAX
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. Our new Health & Wellness category offers branded Personal Protection products. 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.
Wholly owned brands include Urbanista, Clckr, RichmondFinch, Planet Buddies, xqisit, AVO+, Dóttir and grell, and licensed brands include adidas and Diesel. 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.
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 2022-05-25 08:55 CEST.
Attachments
SOURCE: STRAX
Get a daily dose of Chicago Chronicle news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Chicago Chronicle.
More InformationNEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...
KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...
SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Aluminum, copper and nickel shipments have surged this year, according to trade data Beijing has increased purchases of Russian metals...
By Reena Bhardwaj New York [US], June 29 (ANI): A prominent Hindu spiritual leader has been recognised by New York City officials...
BEIJING, June 28 (Xinhua) -- Here are the latest Chinese sports headlines from the past week: 1. China's Wang Xinyu finishes runner-up...
By Naveen Kapoor New Delhi [India], June 27 (ANI): The Aircraft Accident Investigation Bureau (AAIB) Lab in New Delhi, is currently...
Washington DC [US], June 27 (ANI): 'The Social Network' fans are in for a treat as their favourite movie is coming back with a sequel....
Elon Musk has threatened to launch a new party to undermine US President Donald Trump, following a falling out over a spending bill....