Revenue and earnings for 2023 below forecast according to preliminary figures
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EQS-Ad-hoc: Avemio AG / Key word(s): Preliminary Results/Profit Warning Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014 The main reason for the change in revenue development is that the companies MoovIT GmbH and MoovIT Software Products GmbH, which were acquired in June 2023, were not consolidated retroactively as of 1 January 2023, contrary to the original planning, but as of 1 September 2023. The effect on revenue amounts to around EUR 3.6 million. The change in EBITDA is also characterized by unexpectedly higher start-up and development costs for start-ups and incubators in the scope of consolidation. Equity improved by EUR 13.4 million to around EUR 25.9 million as of 31 December 2023 due to the contribution of Teltec AG, corresponding to an increase in the equity ratio to over 50%. With cash and cash equivalents totaling around EUR 5.5 million as of the 2023 balance sheet date and unutilized credit lines of around EUR 2.3 million, Avemio AG has solid financing for the company's further growth. There is still a commitment from Beteiligungs-Managementgesellschaft Hessen mbH (BMH, Investment Management Company of the State of Hessen) for a silent partnership in the amount of EUR 5 million, which will further strengthen equity and serve to support future acquisitions. Despite the still challenging market conditions, the Executive Board believes that Avemio AG's market positioning is promising and expects revenues and earnings to stabilize in the current 2024 financial year. End of Inside Information
24-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Avemio AG |
| Schaumainkai 91 | |
| 60596 Frankfurt | |
| Germany | |
| Phone: | 06134 5844872 |
| E-mail: | ir@avemio.com |
| Internet: | www.avemio.com |
| ISIN: | DE000A2LQ1P6 |
| WKN: | A2LQ1P |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich |
| EQS News ID: | 1931893 |
| End of Announcement | EQS News Service |
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1931893 24-Jun-2024 CET/CEST
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