STRAX – Challenges remain, whilst the objective to save and rebuild the company remains intact
The Group’s sales for the period January 1 – September 30, 2024, amounted to MEUR 7.4 (25.0)
with a gross margin of -65.0 (4.3) percent.
The Group’s result for the period January 1 – September 30, 2024, amounted to MEUR -1.9 (-25.5) corresponding
to EUR -0.02 (-0.24) per share.
EBITDA from continuing operations for the period January 1 – September 30, 2024, amounted to
MEUR -1.5 (-22.0).
Equity as of September 30, 2024, amounted to MEUR -73.6 (-33.6) corresponding to EUR -0.61 (-0.28)
per share.
As of September 30, 2024, STRAX is not fulfilling the special conditions in the loan agreement with PCP due to the development of profitability and financial position in the Group. STRAX board and management are working closely with PCP on a plan to return to compliance of the agreement.
Significant events after the end of the period
STRAX completed an asset purchase agreement to acquire select assets from the insolvency estate of Strax GmbH in Germany. The transaction scope covers the two sales entities in Scandinavia, and some consumer accessories brands. The purchase price is KEUR 285, plus service fees.
“The effort to stabilize and save STRAX remains our top priority. We have made significant progress in minimizing operating expenses to essential levels and are actively pursuing strategies to reduce debt and improve liquidity.”
Gudmundur Palmason, CEO