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