STRAX: Year-end Report for the Financial Year 2017

STOCKHOLM, Sweden, Feb. 27, 2018 /PRNewswire/ -- In 2017 STRAX, the mobile accessory specialist, delivered a record Q4 leading to its fourth consecutive year of double-digit sales growth and improved gross margin.

• The Group's sales for the period January 1 – December 31, 2017, amounted to MEUR 100.6 (91.8), gross margin amounted to 28.5 (28.0) percent.
• The Group's result for the period January 1 – December 31, 2017, amounted to MEUR 2.8 (3.2) corresponding to EUR 0.03 (0.03) per share. Equity as at December 31, 2017 amounted to MEUR 22.1 (18.2) corresponding to EUR 0.19 (0.15) per share.
• Adjusted EBITDA for 2017 amounted to MEUR 10.2 (7.8) an increase of 27% to be compared with a sales growth of 10% for the same period. The scalable growth model shows greater increase in profitability in relation to growth of revenues.
• STRAX brand Gear4 became the largest mobile accessory case brand in the UK, with a market share of 18.5%, according to GfK.
• STRAX brand Gear4 won T3 accessory of the year award with its Piccadilly mobile accessory case.
• The US became STRAX' largest market, where the proposition is purely based on the house of brands positioning. All of STRAX proprietary and licensed brands are now sold in the US, which is the single largest accessory market in the world.

"We finished the year with a record quarter and enter 2018 with good momentum in all our key markets. I am furthermore pleased with STRAX´ positioning heading into a new year; we have a great team, sound strategy and operational platform, broad and geographically diverse customer base, and relevant portfolio of brands in a growing global industry. I remain optimistic and expect exciting times ahead for STRAX and our shareholders," Gudmundur Palmason, CEO. 

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

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 20:30 CET on February 27, 2018.

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SOURCE Strax