Q1: Net sales +25% y-o-y (Polygiene +70%, Addmaster +3%)
5% y-o-y with a positive FX effect of roughly 2% in the quarter. It was 14% better than ABGSCe as the continued recovery in Addmaster clearly exceeded our expectations. It seems like separating the two brands again was the correct decision and after the re-launch of Addmaster's old website key KPIs have increased significantly. After a challenging few quarters for Addmaster, they are now back to posting y-o-y sales growth again and not too far off peak sales volumes. EBIT was SEK 3.3m (SEK -2.8m), which was better than ABGSCe at SEK -1.5m. The deviation was driven by higher sales volumes and lower other external expenses, suggesting good cost-cutting initiatives by the company.
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