Polygiene Group, the Swedish maker of antimicrobial fabric treatments, reported a profit against a year-ago loss in the second quarter ended June 20 on higher gross margins and lower expenses. Sales were up slightly.
Sales in the period increased 0.6 percent to SEK 32.1 million ($3.1 mm) from SEK 31.9 million a year ago. The quarter had a negative currency effect of roughly 2 percent compared to the previous year.
Gross margins improved to 71 percent from 63 percent, including a positive currency impact of approximately 2 percent. It also includes a price adjustment during the quarter that will not continue in the coming quarters.
Total expenses for the period amounted to SEK 9.9 million, down from SEK 10.5 million a year ago.
Operating profits (EBIT) amounted to SEK 1.6 million against an operating loss of SEK 2.6 million a year ago and an operating loss of SEK 100,000 in the first quarter. Operating profit before depreciation (EBITDA) amounted to SEK 3.0 million against a loss of SEK 1.2 million a year ago.
Sandrine Garnier, who succeeded Ulrika Björk as CEO at the close of the year, said in the firm’s quarterly report, “While market conditions remained challenging across our end markets, sales were broadly in line with the same period last year. In today’s geopolitical and economic environment, maintaining our sales performance while continuing to invest for future growth represents meaningful progress.”
Garnier said Polygiene made progress on the four strategic priorities the company outlined at the start of the year, “managing the impact of rising silver prices, accelerating diversification through innovation and adjacent market expansion, restoring profitable growth in the Americas, and repositioning Addmaster as a leading technical solutions provider.”
She also noted that “Polygiene completed the transition to a revised pricing structure to help offset the rise in silver prices to more than double 2025 levels.” Among its recent product launches, Polygiene OdorCrunch 2.0 continues to gain traction while the commercial adoption of Polygiene StayCool “continues to build following its launch in 2025.”
Polygiene also “took further steps to simplify our operating model in the Americas, creating a leaner organization better positioned to deliver sustainable, profitable growth,” said Garnier.
In August, Kurt De Meyer, formerly at Janssen PMP, the microbial control and biocides division of Johnson & Johnson, will join the company as head of commercial growth for Addmaster.
Garnier concluded in her comments, “The external environment remains uncertain, and we do not expect recovery to happen overnight. However, six months into my tenure as CEO, I remain confident that the strategic priorities I outlined are the right ones. The progress made during the first half of the year reflects disciplined execution across each of these priorities, strengthening the business today while laying the foundations for sustainable, profitable growth over the longer term.”
Image courtesy Polygiene
