STRAX: Interim Report NO 3 for the Financial Year 2017

STOCKHOLM, Nov. 28, 2017 /PRNewswire/ -- STRAX, the mobile accessory specialist, improves its gross margin and continues to experience strong growth in its targeted international markets, whilst adapting to changing market conditions in Western Europe.

• The Group's sales for the period January 1 – September 30, 2017, amounted to MEUR 67.3 (65.6), gross margin increased to 29.2 (27.4) percent.
• The Group's result for the period January 1 – September 30, 2017, amounted to MEUR 3.5 (1.9) corresponding to EUR 0.03 (0.02) per share. Equity as at September 30, 2017 amounted to MEUR 22.9 (16.8) corresponding to EUR 0.19 (0.15) per share.
• Trailing 12 months' revenues Q3 2017 amounted to MEUR 93.6 (89.0). The scalable growth model shows greater increase in profitability in relation to growth of revenues, with EBITDA on a trailing 12 month basis amounting to MEUR 9.9 (5.9) per share.
• STRAX acquired all outstanding shares of Telecom Lifestyle Fashion (TLF), its affiliated brand licensing company. TLF is the global exclusive licensee of adidas and bugatti for smartphone accessories.
• STRAX brand Gear4 continued to extend its footprint in the US and is now sold in more than 6 000 stores distributed through Tessco Technologies and Superior Communications.
• In August STRAX relaunched Thor, the proprietary screen protection brand, with refreshed packaging, retail training kits and a new website.
  

"Our third quarter results were impacted by later than expected launch of iPhone X and weak initial demand for iPhone 8. We still maintain growth compared to last year so far in 2017, and we are experiencing increased demand from most channels and markets in the fourth quarter giving us comfort in an increased growth for the full year 2017. In line with our strategy and expectations, growth in North America and the Middle East continues to be strong with 84% and 42% respectively and an ever-expanding presence of Urbanista and Gear4 across all our markets and channels is encouraging. Our scalable business model continues to prove greater EBITDA growth over sales growth."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 November 28, 2017.

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

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