Calvert International AG

CALVERT INTERNATIONAL AG PUBLISHES CONSOLIDATED FINANCIAL STATEMENTS 2022: OUTLOOK 2023 OPTIMISTIC

EQS-Media / 04.07.2023 / 09:47 CET/CEST CALVERT INTERNATIONAL AG PUBLISHES CONSOLIDATED FINANCIAL STATEMENTS 2022 OUTLOOK 2023 OPTIMISTIC

 

• Slight decline in sales by 12.2% to EUR 3.6 million
• Relatively stable result due to effective cost management
• Positive outlook - strategic realignment in 2023

 

Frankfurt am Main, July 4, 2023 - Calvert International AG ("CIAG"; ISIN DE000A0JK2A8), formerly Centurion International AG,  published, on 30 June 2023, its solidated financial statements for the fiscal year 2022. CIAG generated consolidated revenue of EUR 3.6 million in fiscal year 2022 (2021: EUR 4.1 million).

 

RELATIVELY STABLE RESULT THANKS TO EFFECTIVE COST MANAGEMENT

Thanks to the company's restrictive cost policy, the 12.2% decline in consolidated sales was almost offset in earnings. EBITDA for the Group as a whole amounted to EUR 0.347 million in fiscal 2022 (2021: EUR 0.472 million). The positive result for the year was EUR 0.162 million (2021: EUR 0.329 million). At the end of 2022, total assets were EUR 5.0 million, an increase of 11% (EUR 4.5 million in 2021).

 

POSITIVE OUTLOOK FOR AFRICA - SOUTH AFRICA BURDENED

Overall, CIAG had a good economic start to the 2022 financial year following its successful listing on the Düsseldorf Stock Exchange in February 2022.Due to the geopolitical situation, the European energy market was in a process of reconfiguration in 2022. Increasingly, African suppliers were in demand to meet European demand for energy sources through long-term contracts between Africa and the EU. Nevertheless, the South African subsidiary was the only Group company to record a decline in sales, due in particular to the sharp increase in power outages (so-called "load shedding") in 2022 and the associated impact on general South African economic activity. CIAG expects the macroeconomic situation in South Africa to stabilize in the coming years. In addition, CIAG is already in discussions with customers to benefit from consulting and advisory services as well as investments in so-called off-grid solutions in the future.