Strax: Interim Report No 1 for the Financial Year 2018

STOCKHOLM, May 24, 2018 /PRNewswire/ -- STRAX, the mobile accessory specialist, delivered solid top-line growth and strong improvement in gross margin in Q1, where proprietary and licensed brands lead the way 

• 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.

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

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SOURCE Strax