ORGANOCLICK AB (PUBL) PUBLISH INTERIM REPORT FOR Q1 2020
The first quarter of the year can be divided into two periods: before and after the COVID-19 outbreak in Europe. The year 2020 started well, with a strong order intake on the Swedish market as well as on our export markets – but since the corona virus hit us with force in the beginning of March, our export markets have stalled. The Swedish sales of ORGANOWOOD® timber and BIOkleen® maintenance products through retailers in the building and paint trade are still doing relatively well, while we are seeing increasing impact on the sales of OrganoTex® through sports and outdoor retailers. What is positive during the quarter is the good contribution to growth by our biocomposites, which mostly is due to increased sales of coffin materials to Fredahl Rydéns.
Translation from CEO Mårten Hellbergs comments to the Interim Report.
Q1, 1 January – 31 March 2020
The Group compared with 2019
» Net revenue amounted to SEK 22.25 (22.15) million
» The gross margin (after variable costs) amounted to 43.1 (46.0) %
» EBITDA amounted to SEK -1.37 (0.80) million
» Cash-flow from operating activities amounted to SEK -3.29 (-2.01) million
» Earnings before tax amounted to SEK -5.06 (-3.01) million
The complete version of the Interim Report is attached in this press release and is available on the companys´ homepage. The informationen in this Interim Report is according to the rulesof Nasdaq First North Growth Market.
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For more information, please contact:
Mårten Hellberg, CEO
0707 – 16 48 90, marten.hellberg@organoclick.com
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About OrganoClick
OrganoClick AB (publ) is a public Swedish cleantech company listed on Nasdaq First North Growth Market. The company develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the durable water repellent technology for textiles OrganoTex®, the biocomposite material OrganoComp®, surface treatment and maintenance products for villa and property owners under the brand BIOkleen®, biobased binder under the trade name OC-BioBinder™ andthe flame and rot-resistant timber OrganoWood® (through the joint-venture OrganoWood AB). OrganoClick was founded in 2006 as a commercial spin-off company based on research performed at Stockholm University and the Swedish University of Agricultural Sciences within environmentally friendly fiber chemistry. OrganoClick has won a number of prizes, such as “Sweden’s Most Promising Start -up” and “Sweden’s Best Environmental Innovation”, and has also received a number of awards, such as the WWF “Climate Solver” award, listed as a SUSTAINIA100 company and has also appeared for two years on the Affärsvärldens and NyTekniks list of Sweden’s top 33 hottest technology companies. OrganoClick has its head office, production and R&D located in Täby, north of Stockholm.OrganoClick’s Certified Adviser on Nasdaq First North Growth Market is Mangold Fondkommission AB,tel: +46 (0)8 503 01 551, email: ca@mangold.se.
The information in this press release contains information that OrganoClick AB (publ) is obliged to release according to the EU’s market regulation law number 596/2014. The information was published, of the contact person above, 6 May 2020 at 8:30.
