(SGI) Polygiene stabilized its business in 2019, with sales declining by just 0.3 percent to 68.8 million Swedish kronor (€6.34m-$6.82m), with cash flow improving and turning positive. Sales actually grew by 6.3 percent excluding the divested Protective Surfaces business, but the operating margin declined and the company ended up with a higher pre-tax loss of SEK 6.6 million (€0.6m-$0.7m). The equity/assets ratio declined to 66.8. After a tough start of the year, especially in China and the U.S., record high sales were recorded in the third and fourth quarter of 2019, and the trend continued into the first quarter of 2020, which showed positive growth overall, but it was stopped by the Covid-19 outbreak in February as clients started to get order cancellations.
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