STRAX is steering reasonably well through external headwinds
The Group’s sales for the period January 1 – June 30, 2022, amounted to MEUR 63.8 (54.8) with
a gross margin of 17.7 (19.0) percent.
The Group’s result for the period January 1 – June 30, 2022, amounted to MEUR -2.0 (-2.7) corresponding to EUR -0.02 (-0.02) per share.
EBITDA for the period January 1 – June 30, 2022, amounted to MEUR 2.4 (1.6).
Equity as of June 30, 2022, amounted to MEUR 10.5 (16.2) corresponding to EUR 0.09 (0.13) 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 with 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.
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.
Significant events after the end of the period
STRAX subsidiary Urbanista, the Swedish lifestyle audio brand, announced the launch of Urbanista Phoenix
– the world's first true wireless, active noise cancelling earphones powered by light.
“The second quarter of 2022 was to some extent business as usual when looking back at the past couple of years. Challenging external environment stemming from various factors, such as supply chain constraints, shift in demand, strengthening of the US dollar and Covid-19 looming over us. All of these prolonging the uncertainty and creating an environment where change is somewhat the only constant. STRAX was nevertheless able to steer through the headwinds and we delivered reasonable results in the quarter".
Gudmundur Palmason, CEO