Polygiene (POLYG) Q1 2025 earnings summary

Executive summary

• Achieved 18% revenue growth in Q1, with net sales reaching SEK 41.5 million, driven by strong EMEA performance and positive currency effects.

• Q1 is seasonally smaller due to the Chinese New Year, but growth was sustained across key regions and segments.

• Introduced new technologies in both Polygiene and Addmaster, including StayCool, supporting innovation and future sales.

• Board proposes a total dividend of SEK 0.27 per share, including a one-time extra dividend, reflecting strong liquidity.

• Secured new collaborations with major brands such as CUBE, Sitka, Descente, Peacebird, and ANTA.

Financial highlights

• Revenue increased from SEK 35.1 million to SEK 41.5 million, up 18% year-over-year.

• Gross margin was 67.4%, slightly down from 68.7% due to sales mix and FX impact.

• EBITDA was SEK 3.1 million (vs. SEK 4.8 million), with a negative FX impact of SEK 1.4 million.

• EBIT was SEK 1.6 million (vs. SEK 3.3 million); cash flow was negative SEK 4.1 million, impacted by bonus payouts and timing of sales.

• Cash position at quarter-end was SEK 61.9 million, up from SEK 48.9 million.

Outlook and guidance

• Confident in continued profitable growth for 2025, with expectations of positive full-year cash flow and stable cost base.

• Sales momentum from March anticipated to continue, with focus on new product launches and ongoing projects.

• No anticipated short-term impact from proposed US import tariffs; global setup provides flexibility and direct exposure is limited.