News Tag: Q1

The Group’s sales for the period January 1 – March 31, 2019, amounted to MEUR 22.6 (22.1), corresponding to a growth of 2.2 percent, with a gross margin of 26.3 (30.4) percent.

The Group’s result for the period January 1 – March 31, 2019, amounted to MEUR
0.2 (-0.7) corresponding to EUR 0.00 (0.00) per share. Equity as of March 31, 2019 amounted to MEUR 21.7 (21.0) corresponding to EUR 0.18 (0.17) per share.

EBITDA for the period January 1 – March 31, 2019, amounted to MEUR 1.4 (1.0).

Year over year reduction in OPEX amounts to MEUR 1.5 for Q1 2019 as a result of the cost reductions implemented in 2018.

STRAX does not expect sales to materially decline in 2019 despite the sale of Gear4 and gross margin is expected to remain stable in 2019.

The positive development for the proprietary and licensed brands continued in Q1 2019 creating valuable assets for STRAX.

STRAX board of directors called for an EGM on December 28, 2018, which resolved on a distribution of SEK 1.10 per share, corresponding to MEUR 12.8 in total value, with distribution to the shareholders completed on January 30, 2019.

During the first quarter interest-bearing debts decreased by MEUR 12.9, as a result of repayment of loans and lower utilization of working capital lines.

With the effective date of April 1, 2019, STRAX acquired all outstanding shares in BrandVault, a business focused on sales through e-commerce marketplaces globally.

”We now report our first full quarter since divesting Gear4 in 2018 and I’m pleased to see that sales have more than held up and that our profitability has improved at the same time, as a result of our headcount reduction and cost saving measures implemented in the second half of last year. During the quarter we also completed the acquisition of BrandVault and therefore continued our push into e-commerce in pursuit of greater channel diversification and growth.”

 Gudmundur Palmason, CEO

 

For further information please contact Gudmundur Palmason, CEO, STRAX AB, telephone:
+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 CEST on May 22, 2019.

 

About STRAX
STRAX is a market-leading global company specializing in mobile accessories. STRAX has built a House of Brands to complement its value-added customer specific solutions and services. STRAX House of Brands includes proprietary brands: XQISIT, Urbanista, THOR, CLCKR and licensed brands: adidas and bugatti. In addition, STRAX represents over 40 major mobile accessory brands. 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 200 employees in 13 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, 2018, amounted to MEUR 22 (20), gross margin increased to 30.4 (27.0) percent.

• The Group’s result for the period January 1 – March 31, 2018, amounted to MEUR 0 (0) corresponding to EUR 0.00 (0.00) per share. Equity as at March 31, 2018 amounted to MEUR 21.0 (18.2) corresponding to EUR 0.17 (0.15) per share.

• EBITDA for the period January 1 – March 31, 2018, amounted to MEUR 1.0 (0.6) an increase of 67% to be compared with a sales growth of 9% for the same period. The scalable growth model shows greater increase in profitability in relation to growth of revenues.

• STRAX was awarded accessory contract with Vodafone UK to become its sole provider of mobile accessories across all of its 450 retail stores, enterprise business units and online channels via a full category vendor managed availability solution.

• STRAX implemented a supply chain financing solution from CrossFlow, a London-based fintech company, within its supplier base.

”The House of Brands positioning coupled with our distribution capabilities in Western Europe has proved very successful with our customers.”
                                                                                                                                                                Gudmundur Palmason, CEO

 

This information 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 24, 2018.

• The Group’s sales for the period January 1 – March 31, 2017, amounted to MEUR 20.3 (20.2), gross margin amounted to 27.0 (23.9) percent. The Q1 2017 report is the first in which STRAX reports in EUR following a decision at an EGM held on December 22, 2016 to change the reporting currency from SEK to EUR.

• The Group’s result for the period January 1 – March 31, 2017, amounted to MEUR 0.0 (0,1) corresponding to EUR 0.00 (0.00) per share. Equity as at March 31, 2017 amounted to MEUR 18.2 (11.1) corresponding to EUR 0.15 (0.09) per share.

• Trailing 12 months’ revenues Q1 2017 amounted to MEUR 92.0 (83.4). The scalable growth model shows greater increase in profitability in relation to growth of revenues, EBITDA on a trailing 12 month basis amounted to MEUR 8.3 (3.9).
  • During the period, STRAX signed an exclusive contract with Tessco Technologies for STRAX proprietary brands in the US. STRAX won a multi-tiered tender with mobilcom-debitel in Germany to exclusively supply all sales channels with mobile accessories and connected devices, and Orange won GSMA GLOMO Awards at Mobile World Congress VR1 in the category of Best Mobile Wearable Technology with a VR headset developed in cooperation with STRAX.

   

  • After the end of the period STRAX launched its first Vodafone branded protection range for three Vodafone devices brought to the market in Q2 and rolled out the mobilcom-debitel accessories offering.

    ”The year got off to a mixed start amid slowdown in retail and smartphone sales in most global markets, and focus has been on growing our presence in North America and the Middle East, whilst retaining market share in Western Europe. Gear4 and Urbanista continue to perform well across all our markets and are contributing to both growth and profitability”.

                                                                                                                                                     Gudmundur Palmason, CEO 

    For further information please contact Gudmundur Palmason, CEO, Strax AB, +46 8 545 01750

    This information 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 23 2017.