EQS-News

exceet Group SCA: Financial Result Q1 2023 - Seite 2

 

The loss of the period Q1 2023 amounted to EUR 4.4 million, compared to a loss of EUR 3.0 million in Q1 2022.

 

For the following periods exceet has a backlog of EUR 20.7 million at 31 March 2023.

 

Group Balance Sheet Positions:

 

As of 31 March 2023, the total assets amounted to EUR 135.3 million, compared to EUR 62.5 million as of 31 December 2022. The significant change is related to the increased cash position, because of consolidation of exceet within the financial statements of APEX based on reversed acquisition accounting principles.

 

At the end of the reporting period, exceet Group’s equity amounted, to EUR 79.2 million, against EUR minus 7.2 million as of 31 December 2022. This represents a equity ratio of 58.5%. The share capital represents the share capital of exceet Group SCA with EUR 0.6 million as of 31 March 2023 (31.12.2022: EUR 0.3 million). The increase reflects the capital increase of exceet Group SCA based on the transaction with APEX Group according capital increase by contribution in kind. The number of shares increased by 16,285,467 shares, the capital amounts to EUR 564,385 (31.12.2022: EUR 311,960). The amount of the share premium includes effects from reversed acquisition in the amount of EUR 40.4 million.

 

As of 31 March 2023, the cash and cash equivalents amounted to EUR 64.4 million (31.12.2022: EUR 0.2 million). The cash position increased due to the cash, which exceet contributed to APEX.

 

Financial liabilities summed up to EUR 44.9 million (31.12.2022: EUR 61.0 million). The decrease in the first three months based on the repayement of APEX’ bond and financial loans. Net cash position amounted to EUR 19.5 million at 31 March 2023, while at 31 December 2022 net cash position was negative at EUR 60.8 million.

 

Outlook

 

After divestment of all operating business during the previous years, exceet used the cash collected and reinvested it into a new business with strong future outlook. APEX Group is a leading developer and operator of hydrogen plants and currently the only operating business within the exceet Group.