Polygiene said that the fourth quarter of 2020 was the best in its history, with sales rising by 40.0 percent from the year-ago quarter to a record 26.6 million Swedish kronor (€2.7m-$3.2m). The growth was largely due to the success of Polygiene’s ViralOff in the context of the Covid-19 pandemic, as this treatment of textiles and other products can reduce viruses by 99 percent in two hours.
However, the gross margin declined by 3.8 percentage points to 64.9 percent. The company ended with a net loss of SEK 2.6 million (€260,000-$320,000), due to the non-recurring costs associated with the acquisition of Addmaster, a British global supplier of antibacterial additives for hard surfaces, for SEK 374 million (€36.9m-$44.8m). The loss was lower than last year’s loss of SEK 5.2 million.
Polygiene is at the center of media attention since it launched ViralOff in April. In the context of the Covid-19 outbreak, the demand for the treatment has soared, and the group has expanded its scope from initially treating protective clothing, face masks and other hospital products to much broader areas of use such as other types of apparel and accessories. A jury declared it as the Overall Winner of the Scandinavian Outdoor Awards in July.
During the year, the group signed contracts with the Spanish company General Tactic to provide ViralOff apparel and textiles for first responders in Spain and North America. Additional European contracts include the Polish brand Lekko, which has adapted its offering to include ViralOff, or Spira Protekta from Germany and Britain’s Marks & Spencer for kitchen towels. Bedgear, a U.S. leader in bedding, also launched Polygiene´s product called Germ Shield Protector that incorporates a lab-tested antimicrobial technology that inhibits 99 percent of microbes and germs.
No figures have been provided yet for the full 2020 financial year.