EQS-News

Bitcoin Group SE publishes its annual report 2022

EQS-News: Bitcoin Group SE / Key word(s): Annual Report Bitcoin Group SE publishes its annual report 2022 26.06.2023 / 15:00 CET/CEST The issuer is solely responsible for the content of this announcement. Bitcoin Group SE publishes its annual report 2022

Herford, 26 June 2023 – Bitcoin Group SE (ISIN DE000A1TNV91) today published its Annual Report 2022. The Company, which operates the cryptocurrency trading platform Bitcoin.de via its wholly-owned subsidiary futurum bank AG, can look back on a profitable year despite the challenging environment for the crypto industry.

Bitcoin Group SE achieved revenues of EUR 8.34 million (IFRS) in the financial year 2022, compared to EUR 25.39 million in the previous year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 1.37 million compared to EUR 19.75 million in the previous year. For the financial year 2022, earnings per share amounted to of EUR -0.48, compared to EUR 2.67 in the previous year. The decline in revenues and earnings was a consequence of the decline in trading activities in the wake of the extremely challenging environment in the reporting year. Firstly, the negative overall market sentiment that prevailed for much of 2022, which was characterised by geopolitical tensions, supply chain issues, energy supply concerns and high inflation. This was compounded by the restrictive policies of the world's central banks, which led to a bear market in all assets from equities and bonds to precious metals and cryptocurrencies. On the other hand, a series of insolvencies of foreign crypto marketplaces, starting with the collapse of the crypto exchange FTX in the USA, was an additional burdening factor, which caused a price collapse for all cryptocurrencies. In this environment, the price of Bitcoin, for example, as a reference for the overall market, plummeted by almost 63% from EUR 41,652.72 to EUR 15,496.24. The risk reduction in asset allocation among both private and institutional investors associated with the aforementioned general conditions characterised trading activity in the 2022 financial year.