Interim Report Q3 2023 - Seite 2

STRAX signed a MEUR 10 investment agreement with ZEBRA Invest GmbH, a Germany based investment company, for 50.1% ownership of its European-based distribution business. All closing conditions have been fulfilled and the transaction closed during the period. The divestment of the majority ownership in the European Distribution represented the full Segment "Distribution" and as an effect it has been reported applying IFRS - Discontinued operations. The effect is that the profit or loss for the period January 1 - September 30, 2023 and July 1 - September 30, 2023 and corresponding figures last year has been reported Profit/loss from discontinued operations in the Income statement. The result relating to the divestment of the Distribution, including goodwill, amounted to MEUR 0.5.

STRAX subsidiary Urbanista launched Malibu, the world's first solar charging speaker using Powerfoyle solar cell technology by Exeger. Following the previous highly successful launches of the Los Angeles solar charging headphones in 2021 and Phoenix earphones in 2022, the addition of the Malibu speaker to the family of solar-powered products completes the brand's offering in the segment. The launch of Malibu speaker further cements Urbanista's position as the leader in the category in the audio space.

Pia Anderberg decided to resign as a Board Member. Pia was elected as a Board Member in 2018 and has ever since contributed greatly to STRAX. Pia Anderberg has several other board assignments and has recently accepted to join the board of a larger corporation and in light of this will no longer have capacity to be engaged as a board member of STRAX.

"We remain committed to completing our restructuring plan with the objective of presenting a better-funded, leaner, and simpler company that has solid growth potential with healthy underlying margins. Our entire team is fully engaged to achieve the desired outcome and I'm thankful for their continued belief in our mission.
Once and again, I would like to thank all our stakeholders for their patience and support whilst we future proof STRAX ".

Gudmundur Palmason, CEO

For further information please contact:

Gudmundur Palmason
CEO, STRAX AB, [phone]

About STRAX

STRAX is a global leader in accessories that empower mobile lifestyles. Our portfolio of branded accessories covers all major mobile accessory categories: Protection, Power, Connectivity, as well as Personal Audio.

Own brands are Urbanista, Clckr, Planet Buddies and RichmondFinch. Our brands reach a broad customer base, through 70 000 brick and mortar stores around the globe, as well as through online marketplaces and direct-to-consumers.

Founded as a trading company in 1995, STRAX has since expanded worldwide and evolved into a global brand business. Today we have approximately 90 employees in 6 countries. STRAX is listed on the Nasdaq Stockholm stock exchange.

Discontinued operations include Health & Wellness and licenced brand portfolio of adidas and Diesel.

This information is information that STRAX is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-12-01 00:43 CET.

Attachments

Q3 2023

SOURCE: STRAX

View source version on accesswire.com:
https://www.accesswire.com/812095/interim-report-q3-2023


The Strax Stock at the time of publication of the news with a raise of +10,16 % to 0,071EUR on Frankfurt stock exchange (30. November 2023, 08:27 Uhr).