"the year started well with very strong sales increase of 33.3 (0.4) percent to MSEK 29.7 (22.2)
"After the first four months of the year I can conclude that we are on the right path. Q1, which historically has been one of our weakest periods, and has contributed with 18 % of the yearly revenue, has started well. Sales has increased from SEK 6.5 million to SEK 18.0 million which excluding our previous acquisition gave an organic sales growth of 52 %. The fixed operational costs for the group (excluding the acquired business) increased with only 2 % compared with Q1 2016. The gross margin increased to 37 % compared with 32 % the same period 2016 and March became the first month ever for the group with a positive EBITDA. The trend has continued in April with strong sales and increased gross margin. The goal of a positive EBITDA for the full year therefore feels realistic."
Translation from CEO Mårten Hellbergs comments to the Interim Report
Q1, 1 Jan – 31 March 2017
The Group compared with 2016
» The net revenue amounted to SEK 18.0 (6.5) million
» Revenue growth of 174.4 % (23.4 %)
» Organic sales growth (excluding acquisition) of 52 %
» EBIT of SEK -6.5 (-7.9) million
» March 2017 became the first month ever when the Group had positive EBITDA
The complete version of the Interim Report (in Swedish) is attached in this press release and is available on the companys´ homepage. The informationen in this Interim Report is according to the rules of Nasdaq First North.
For more information, please contact; Mårten Hellberg, CEO OrganoClick
Phone: +46 8 684 001 10
OrganoClick AB (publ) is a public Swedish cleantech company listed on Nasdaq First North. The company develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the water repellent fabric treatment OrganoTex®, the flame and rot-resistant timber OrganoWood® and biocomposite materials. 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 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 is Erik Penser Bank.
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, 10th May 2017 at 8:30.