EQS-News: Advanced Blockchain significantly improves earnings in the first half of 2023
EQS-News: Advanced Blockchain AG
/ Key word(s): Half Year Report
Advanced Blockchain significantly improves earnings in the first half of 2023
29.09.2023 / 10:36 CET/CEST
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain significantly improves earnings in the first half of 2023
Sales: € 1.2 million EBIT: € 0.5 million Net liquidity: more than € 0.3 million29 September 2023 – Advanced Blockchain AG ("AB," Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator, architect, and investor in the Blockchain industry, developed according to plan in the first half of the year. Sales reached € 1.2 million in the first six months of 2023 (H1 2022: € 23.4 million). The previous year was characterized by OTC token transactions and strategic expansions of the business model. In contrast, EBIT improved significantly to €0.5 million (H1 2022: €-0.5 million). Net liquidity was over €0.3 million at the end of June 2023.
In H1 2023, Advanced Blockchain invested around €3 million in promising projects and disruptive technologies.
Simon Telian, CEO of Advanced Blockchain commented, "With the crypto market continuing to be highly volatile, we were able to significantly improve earnings as planned. We consistently continue on our path as an innovation leader in the industry, with a clear focus on margins and efficiency improvements. We firmly believe that blockchain-oriented business models have enormous growth potential. Recent developments in European regulation support our assessment."
As of May 31, 2023, Advanced Blockchain has for the first time had a valuation of the top10 portfolio stocks conducted, which demonstrates the company's investment success. The external and independent valuation of the Top10 portfolio assets resulted in a total valuation of EUR 39.65 million based on acquisition costs of EUR 4.7 million, marking the first time in the German Blockchain industry that token assets are included in the portfolio valuation.
In fiscal year 2023, Advanced Blockchain remains focused on sustainable growth, with a simultaneous focus on cost structures. The company expects revenues from token transactions (especially OTC transactions) and the potential realization of investments in upcoming token launches (TGE).
Based on the current demand situation, management continues to expect revenues in the amount of EUR 5 million for the full year 2023. Earnings should improve significantly compared to the previous year.
The half-year report 2023 is available for download at https://www.advancedblockchain.com/investor-relations.
Contact
IR@advancedblockchain.com
About Advanced Blockchain AG:
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the Blockchain industry with an extensive network of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
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1737987 29.09.2023 CET/CEST