Strax (STRAX) investor relations material

Executive summary

• Net sales for 2024 were MEUR 7.4, a 75% decline year-over-year, with gross margin at -65.0% compared to -34.9% in 2023.

• Result for the period was MEUR -2.7, or EUR -0.02 per share, versus MEUR -66.6, or EUR -0.51 per share, in 2023.

• EBITDA from continuing operations improved to MEUR -2.2 from MEUR -51.8, aided by reduced operating expenses and a gain from a US business unit divestment.

• STRAX is not in compliance with loan covenants; management is working with PCP to restore compliance and stabilize liquidity.

• Major restructuring ongoing, including cost reductions, divestments, and focus on core mobile accessories and personal audio.

Financial highlights

• Net sales: MEUR 7.4 (2023: MEUR 30.2); gross profit: MEUR -4.8 (2023: MEUR -10.5); operating profit: MEUR -2.4 (2023: MEUR -52.1).

• Gross margin: -65.0% (2023: -34.9%); equity as of Dec 31, 2024: MEUR -16.0 (2023: MEUR -71.8).

• Equity/assets ratio: -53,168.1% (2023: -383.2%); interest-bearing liabilities: MEUR 0.5; cash and cash equivalents: MEUR 0.01.

• Basic EPS from continuing operations: EUR -0.02 (2023: EUR -0.51).

• Average number of employees: 15 (2023: 86).

Outlook and guidance

• Restructuring initiatives underway; focus will shift to mobile accessories and personal audio after completion.

• Next steps and future strategy to be communicated during December 2024.