Polygiene saw revenues in the fourth quarter rise by 51 percent to 40.2 million Swedish kronor (€3.7m) as demand for its anti-microbial products continued to be strong, but logistics challenges and raw material shortages also persisted.
In the fourth quarter, operating profit before tax totaled SEK 6.2 million (€578,120), making for an operating margin of 15.4 percent and compared to an operating loss before tax of SEK 2.4 million the year earlier. The gross margin widened to 67.8 percent from 64.9 percent the year earlier, a direct result of the postponement of the delivery of some orders in its textile segment to the current quarter due to production and transportation difficulties.
Polygiene said the postponement of these orders had led to a reduction of SEK 6.5 million (€605,874) of sales in its textile segment compared to the year earlier. Excluding orders to distributors, however, organic growth stood at more than 11 percent. At the same time, other orders in the textile segment were affected by longer factory lead times, as factory production remained below full capacity due to raw material and energy shortages.
The company noted it had not been immune from global supply chain issues affecting all players in the polymer industry, with shortages primarily affecting certain Biomaster and Scentmaster formulations. “The consequences of orders lost and delayed has temporarily affected sales,” said Ulrika Björk, CEO. “We expect to resolve these issues in due time, making gradual improvements, quarter by quarter.”
On a geographical basis, Polygiene traced 51 percent of fourth-quarter sales to the EMEA region, 25 percent to APAC and the remaining 24 percent to the Americas.
Revenues more than doubled for the full year, to SEK 181.8 million from SEK 87.3 million. The gross margin was 63.5 percent, a figure Polygiene said was in line with expectations.
“The quarter was challenging, with many external factors impacting our business,” said Björk. “However, the company’s long-term goals remain intact.” Polygiene announced a 2026 sales target of more than SEK 1 billion in December.
