OrganoClick Q4 FY20 sales grow 21% to SEK 18 mn

February 18, 2021 - Sweden

OrganoClick, a Swedish cleantech company, has reported 21.3 per cent sales growth to SEK 18.2 million (Swedish krona) in its fourth quarter (Q4) FY20 that ended on December 31, 2020, compared to the sales of SEK 15.0 million in the same period previous year. Group incurred a loss during the period of SEK 9.7 million (Q4 FY19: SEK 9.2 million).
Gross profit during Q4 FY20 rose to SEK 1.7 million (SEK 0.2 million).Operating loss increased to SEK 9.2 million (SEK 8.6 million).
“During the last quarter of the year, our positive sales development continued,” Marten Hellbergs, CEO at OrganoClick, said in a press release.
“Within Nonwoven & technical textiles, the joint development projects with our industrial customers proceeded. Production tests have been conducted every month during the quarter, with a number of nonwoven manufacturers. We have also increased the number of early-stage projects with new prospective customers,” Hellbergs said.
Group’s Nonwoven and technical textile segment’s sales dipped during the quarter to SEK 0.2 million (SEK 0.4 million). Whereas, Functional wood sales grew to SEK 11.9 million (SEK 10.0 million) driven by good sales in Sweden as well as increasing export transactions. 
Geographically, sales jumped in Sweden to SEK 15.1 million (SEK 11.8 million) and in rest of Europe to SEK 0.8 million (SEK 0.1 million) during the last quarter of FY20. On the other hand, sales in other Nordics dropped to SEK 2.0 million (SEK 2.6 million) and in Asia it slipped to SEK 0.1 million (0.3 million).
“Sales for 2021 have started well with high double-digit sales growth in all our business units. During the first month of the year, we have also welcomed our new members of the managing team. Their joining the team strengthens our organization even further, allowing us to focus even more on expanding sales and supplying our products that substitute fossil plastics and toxic chemicals,” Hellbergs said in the release.