News Tag: VPML

• The Group’s sales for the period January 1 – September 30, 2020, amounted to MEUR 76.7 (72.3), with a gross margin of 25.5 (24.1) percent.
   
• The Group’s result for the period January 1 – September 30, 2020, amounted to MEUR -2.6 (-2.7) corresponding to EUR -0.01 (-0.02) per share. The result for the period was negatively affected by MEUR 3.1 (1.1) related to the decline in value of the Zagg shares.
   
• EBITDA for the period January 1 – September 30, 2020, amounted to MEUR 4.9 (5.1).

• Equity as of September 30, 2020 amounted to MEUR 17.5 (18.8) corresponding to EUR 0.14 (0.16) per share.
   
• STRAX entered the health & wellness product category and started delivering facemasks, gloves and disinfectants to existing as well as new customers, including branches within the United Nations and hospitals in Q2 2020.
• In July 2020 STRAX signed a senior secured loan facility in the amount of MEUR 30 with Proventus Capital Partners.

• The loan proceeds from Proventus were paid out in two tranches, a subordinated tranche of MEUR 6 in July 2020, to provide additional working capital until the full amount was paid out in October 2020, in connection with the refinancing of maturing loans of already existing German bank consortium.

• STRAX signed a five-year global exclusive distribution agreement with Aetheris to accelerate sales of their established and intelligent face mask brand, Airpop. The Airpop product range will be brought to market by STRAX in Q3 2020.

Significant events after the end of the period

• STRAX continues to experience strong interest and demand for health & wellness products and has already established a name for itself in the category. STRAX continues to participate in and winning tenders in the category and volumes are expected to increase in the fourth quarter 2020.
   
• STRAX and Erikson Consumer, a Jam Industries company, have signed an exclusive distribution agreement in Canada for all STRAX own and licensed mobile accessories brands. The agreement covers both STRAX mobile accessories brands, such as Urbanista, Clckr and Richmond & Finch, as well as newly established health & wellness brands, AVO+ and Airpop as a non-exclusive agreement.

  “STRAX performed well during the third quarter, a period heavily impacted by the Covid-19 pandemic. Demand for mobile accessories remained relatively weak in brick and mortar retail, whilst our online sales maintained strong momentum delivering year-over-year growth in excess of 200% in the quarter. Our newly established health & wellness business furthermore secured several large contracts for personal protection equipment (PPE) with deliveries starting later this year. The entire STRAX team has demonstrated both resilience and resourcefulness throughout the pandemic and is fully committed to work tirelessly to future proof our business”.

  Gudmundur Palmason, CEO

  For further information please contact Gudmundur Palmason, CEO, STRAX AB, +46 8 545 017 50.

  This is information that STRAX AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:55 CET on November 26, 2020.

  About STRAX
  STRAX is a global leader in tech accessories that empower mobile lifestyles. Our portfolio of accessories brands covers all major product categories: Protection, Power, Personal Audio and Connectivity. In response to the ongoing pandemic, STRAX has recently pivoted into Health & Wellness, with an initial focus on personal protection equipment, such as face masks, gloves and sanitizers. Our success lies in a strong offline and online distribution network and best-in-class customer service, delivered by a stellar team.

  We develop and grow brands through an omnichannel approach, we operate two complementary businesses: Own brands – including Urbanista, Clckr, Richmond & Finch, Planet Buddies, xqisit, AVO+, and licensed brands such as adidas, Bugatti, Diesel, SuperDry and WeSC – and Distribution (traditional retail, enterprises and online marketplaces). In addition to own and licensed brands, STRAX distributes over 40 major mobile accessory bands and several health and wellness brands. We sell into all key sales channels ranging from telecom operators, mass merchants and consumer electronics to lifestyle retailers, large enterprises and direct to consumers online. Founded in Miami and Hong Kong in 1995, STRAX has since expanded worldwide. Today, we have over 200 employees in 13 countries, with our operational HQ and logistics center in Germany. STRAX is listed on the Nasdaq Stockholm stock exchange.

The Group’s sales for the period January 1 – June 30, 2020, amounted to MEUR 50.2 (44.6), with a gross margin of 23.7 (24.6) percent.

The Group’s result for the period January 1 – June 30, 2020, amounted to MEUR -2.8 (-3.2) corresponding to EUR -0.02 (-0.02) per share. The result for the period was negatively affected by MEUR 2.8 (1.8) related to the decline in value of the Zagg shares.

EBITDA for the period January 1 – June 30, 2020, amounted to MEUR 1.4 (2.1).

Equity as of June 30, 2020 amounted to MEUR 17.3 (18.3) corresponding to EUR 0.15 (0.17) per share.

STRAX entered the health & wellness product category and started delivering facemasks, gloves and disinfectants to existing as well as new customers, including branches within the United Nations and hospitals in Q2 2020.

STRAX launched a new brand, Planet Buddies, offering a range of children’s headphones, speakers and holders based on a variety of colorful characters of endangered and threatened species.

Urbanista, a STRAX brand, launched a limited-edition Bluetooth speaker in collaboration with H&M Home.

STRAX renewed its contract with mobilcom-debitel for another four years, where STRAX will supply approximately 550 stores and the online shop www.mobilcom-debitel.de with a broad range of products from its extensive portfolio of brands, including mobilcom-debitel’s own freenet brand´.

STRAX signed a five-year global exclusive distribution agreement with Aetheris to accelerate sales of their established and intelligent face mask brand, Airpop. The Airpop product range will be brought to market by STRAX in Q3 2020.

Significant events after the end of the period

STRAX signed a senior secured loan facility in the amount of MEUR 30 with Proventus Capital Partners.
 

”STRAX performed very well in the second quarter, a period of unprecedented market conditions, during which a large portion of our traditional retail customers closed their physical stores and almost everything online-related progressed exponentially. We rolled out an entirely new product category of health & wellness products and stepped up our investment in e-commerce, where we achieved 200% growth year to date.
The entire STRAX organization deserves massive praise for demonstrating resilience and agility since the outbreak of the Covid-19 pandemic.”

Gudmundur Palmason, CEO
 

For further information please contact Gudmundur Palmason, CEO, STRAX AB,
+46 8 545 017 50.

This is information that STRAX AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:55 CET on August 27, 2020

About STRAX
STRAX is a global company specializing in mobile accessories. STRAX develops and grows brands through an omnichannel approach. STRAX operates two complimentary businesses – Own brands and Distribution (retail and online marketplaces) – where the lifestyle audio brand Urbanista is the flagship along with our licensed brand adidas. Through its retail distribution platform in Europe STRAX represents over 40 major mobile accessory brands, whilst Brandvault focuses on online marketplace distribution globally. STRAX sells into all key channels ranging from telecom operators, mass merchants and consumer electronics to lifestyle retailers and direct to consumers online. STRAX was founded in Miami and Hong Kong in 1995 and has since grown across the world. Today, STRAX has over 200 employees in 12 countries with its operational HQ and logistics center based in Germany. STRAX is listed on the Nasdaq Stockholm Stock Exchange.

The Group’s sales for the period January 1 – March 31, 2020, amounted to MEUR 22.2 (22.6), with a gross margin of 26.7 (26.3) percent.

The Group’s result for the period January 1 – March 31, 2020, amounted to MEUR -2 (0.2) corresponding to EUR -0.02 (0.00) per share. The result for the period was negatively affected by MEUR 2.8 (-0.3) related to the decline in value of the Zagg shares, making the results in line with last year when adjusted for the impact of the Zagg shares.

EBITDA for the period January 1 – March 31, 2020, amounted to MEUR 0.3 (1.4).

Equity as of March 31, 2020 amounted to MEUR 18.2 (21.7) corresponding to EUR 0.15 (0.18) per share.

STRAX initiatives in e-com continues according to plan and online sales increased both in terms of absolute value and share of overall group sales.

STRAX entered the Personal Protection Equipment category (PPE) with shipments starting early April, establishing STRAX as a reliable supplier in the PPE category. The current orderbook includes existing customers as well as healthcare and international government bodies.

After the end of the period Urbanista launched a limited edition Bluetooth speaker in collaboration with H&M Home.

The Covid-19 pandemic has put pressure on our core mobile accessories business as many of our traditional retail customers were forced to close stores. As a response we have reduced our operating expenses through various measures including government sponsored programs, stepped up our e-commerce activities as well as entering the PPE category.Starting mid-May many of the strictest lockdown measures in our key markets have started to be lifted and we expect business to gradually pick up in these markets.

” The first quarter started well for STRAX and through February our supply chain was not disrupted as a result of the coronavirus outbreak in China. It was only in mid-March that we started to feel the negative impact of the pandemic when strict social distancing measures in our core markets were implemented followed by broad retail store closures. Nevertheless, our e-commerce business continued to perform well throughout the quarter, both via online marketplaces and direct brand websites. Our entire STRAX team has remained positive and held up well throughout the uncertain situation stemming from the Covid-19 pandemic.”

Gudmundur Palmason, CEO

For further information please contact Gudmundur Palmason, CEO, STRAX AB, +46 8 545 017 50.

This is information that Strax AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:55 CET on May 26, 2020.

About STRAX
STRAX is a global company specializing in mobile accessories. STRAX develops and grows brands through an omnichannel approach. STRAX operates two complimentary businesses – Own brands and Distribution (retail and online marketplaces) – where the lifestyle audio brand Urbanista is the flagship along with our licensed brand adidas. Through its retail distribution platform in Europe STRAX represents over 40 major mobile accessory brands, whilst Brandvault focuses on online marketplace distribution globally. STRAX sells into all key channels ranging from telecom operators, mass merchants and consumer electronics to lifestyle retailers and direct to consumers online. STRAX was founded in Miami and Hong Kong in 1995 and has since grown across the world. Today, STRAX has over 200 employees in 12 countries with its operational HQ and logistics center based in Germany. STRAX is listed on the Nasdaq Stockholm Stock Exchange.

The Group’s sales for the period January 1 – December 31, 2019, amounted to MEUR 114 (107), corresponding to an increase of 6.2 percent, with a gross margin of 24.5 (24.2) percent.

The Group’s result for the period January 1 – December 31, 2019, amounted to MEUR –1.7 (16.7) corresponding to EUR -0.01 (0.14) per share. The result for the period was negatively affected by MEUR 2.4 related to the decline in value of the Zagg shares.

EBITDA for the period January 1 – December 31, 2019, increased to MEUR 8.3 (1.5).

Equity as of December 31, 2019 amounted to MEUR 20.1 (34.3) corresponding to EUR 0.17 (0.28) per share.

Year over year reduction in operational expenses excluding depreciation amounts to MEUR 8 for 2019 as a result of cost reductions implemented in 2018, corresponding to approximately 24 percent.

Urbanista accelerated its growth in 2019 and achieved MEUR 22.8 in sales in 2019 corresponding to a growth of 65% percent.

STRAX acquired all outstanding shares in Racing Shield AB, effective date December 1, 2019, with the main asset being the fashion tech accessories brand Richmond & Finch.

The board of directors resolved to split the group’s business into two parts – Own brands and Distribution. Both businesses will remain wholly owned by STRAX. This change will present an improved view of the value of each part the group’s business and is also expected to deliver a more effective cost structure once fully implemented. The change came into effect as of January 1, 2020.

”2019 was by every measure an eventful and successful year at STRAX; kicking off with a MEUR 13 distribution to our shareholders and finishing with an acquisition of the fashion tech brand Richmond & Finch. Number wise we achieved sales of MEUR 114, corresponding to 25 percent in growth on a like for like basis. Following the cost cutting measures initiated in 2018 our EBIDTA increased to MEUR 8.3 compared to 1.5 the previous year” says Gudmundur Palmason, CEO.

For further information please contact Gudmundur Palmason, CEO, STRAX AB, +46 8 545 017 50.

This is information that Strax AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:55 CET on February 27, 2020.

 

About STRAX
STRAX is a global company specializing in mobile accessories. STRAX develops and grows brands through an omnichannel approach. STRAX operates two complimentary businesses – Own brands and Distribution (retail and online marketplaces) – where the lifestyle audio brand Urbanista is the flagship along with our licensed brand adidas. Through its retail distribution platform in Europe STRAX represents over 40 major mobile accessory brands, whilst Brandvault focuses on online marketplace distribution globally. STRAX sells into all key channels ranging from telecom operators, mass merchants and consumer electronics to lifestyle retailers and direct to consumers online. STRAX was founded in Miami and Hong Kong in 1995 and has since grown across the world. Today, STRAX has over 200 employees in 12 countries with its operational HQ and logistics center based in Germany. STRAX is listed on the Nasdaq Stockholm Stock Exchange.

The Group’s sales for the period January 1 – September 30, 2019, amounted to
MEUR 72.3 (69.5), corresponding to an increase of 4 percent, with a gross margin of 24.1 (28.6) percent.

The Group’s result for the period January 1 – September 30, 2019, amounted to
MEUR -2.5 (-1.1) corresponding to EUR -0.02 (-0.01) per share. The result for the period was negatively affected by MEUR 3.3 related to the decline in value of the Zagg shares.

Equity as of September 30, 2019 amounted to EUR 18.8 (19.8) corresponding to EUR 0.16 (0.17) per share.

EBITDA for the period January 1 – September 30, 2019, increased to MEUR 5.1 (3.6).

Year over year reduction in operational expenses excluding depreciation amounts to MEUR 6.7 for 2019 as a result of cost reductions implemented in 2018, corresponding to approximately 27 percent, and tracking towards MEUR 8-9 reduction in 2019.

Urbanista accelerated its growth in the first 9 months of 2019 and achieved 20 percent market share in the true wireless headset category in Sweden in July 2019. In the fall of 2019 Urbanista launched four new true wireless products and is on track to deliver another record year.

The board of directors resolved to split the group’s business into two parts – Own brands and Distribution. Both businesses will remain wholly owned by STRAX. This change will present an improved view of the value of each part the group’s business and is also expected to deliver a more effective cost structure once fully implemented. The change will come into effect January 1, 2020. (See separate press release).

”Our third quarter performance was excellent overall and I am proud of the entire STRAX team for their determination and firm belief in the changes we´ve implemented during the last twelve months. In the third quarter our sales grew by 17% compared to the same period last year and 4% during the first nine months this year, whilst delivering 18% growth on a like-for-like basis, taking the Gear4 transaction into account”.

                                                               Gudmundur Palmason, CEO

 

For further information please contact Gudmundur Palmason, CEO, STRAX AB,
+46 8 545 017 50.

This is information that Strax AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:55 CET on November 28, 2019.

About STRAX
STRAX is a global company specializing in mobile accessories. STRAX develops and grows brands through an omnichannel approach. STRAX operates two complimentary businesses – Own brands and Distribution (retail and online marketplaces) – where the lifestyle audio brand Urbanista is the flagship along with our licensed brands adidas. Through its retail distribution platform in Europe STRAX represents over 40 major mobile accessory brands, whilst Brandvault, online marketplace distribution, is currently centered around own brands and startups. STRAX sells into all key channels ranging from telecom operators, mass merchants and consumer electronics to lifestyle retailers and direct to consumers online. STRAX was founded in Miami and Hong Kong in 1995 and has since grown across the world. Today, STRAX has over 200 employees in 12 countries with its operational HQ and logistics center based in Germany. STRAX is listed on the Nasdaq Stockholm Stock Exchange.