Despite a 30 percent decline in third-quarter revenues to 28.7 million Swedish kroner (€2.4m) and a corresponding operating loss of SEK 2.4 million, Polygiene is optimistic about Q4 results as early orders have exceeded expectations. The group, which said Q3 results showed signs of a slow recovery, has shifted its focus to new customer acquisitions and intends to re-evaluate the long-term goals it established in 2021. Details about a new long-term strategy will be disclosed before the end of the year.
The lower revenues for the period ended Sept. 30 were largely related to lower sales in the product protection segment due to lower demand in the manufacturing and construction industries. Period-end inventory was down 10.8 percent year-over-year to SEK 33.7 million.
