EQS-News

Calvert International AG: CALVERT INTERNATIONAL REPORTS SIGNIFICANTLY INCREASED PROFITABILITY IN FIRST HALF OF 2023, ATTRACTIVE VALUE ACCRETION IN NEW BUSINESS MODEL

EQS-News: Calvert International AG / Key word(s): Half Year Results Calvert International AG: CALVERT INTERNATIONAL REPORTS SIGNIFICANTLY INCREASED PROFITABILITY IN FIRST HALF OF 2023, ATTRACTIVE VALUE ACCRETION IN NEW BUSINESS MODEL 29.08.2023 / 10:00 CET/CEST The issuer is solely responsible for the content of this announcement. CALVERT INTERNATIONAL REPORTS SIGNIFICANTLY INCREASED PROFITABILITY IN FIRST HALF OF 2023, ATTRACTIVE VALUE ACCRETION IN NEW BUSINESS MODEL

 

• Calvert International AG today published its consolidated H1 figures for FY 2023
• Total consolidated revenues for the first 6 months reach €2.3M, thus slightly above H1 2022
• Group's operating EBITDA is €1.42M, much higher than previous year (€ 0.21M)
• Guidance 2023: Revenues for FY2023 expected to exceed 2022 comparison figures
• Increased profitability: much higher profit for FY2023 expected, compared to FY2022
• Outlook for 2024: Attractive growth and value accretion in the company’s new investment holding business model

 

Frankfurt am Main, August 29, 2023 - Calvert International AG ("CIAG"; ISIN DE000A2YN5X9) has published its unaudited consolidated interim financial statements for the first half of 2023. Total consolidated revenue for the first 6 months of FY 2023 stood at €2.3M, which is slightly above previous year’s €2.2M. Annualized consolidated revenue is expected to be above €4.0M, reflecting an 11% increase from the year-ago comparison period (FY 2022: €3.6M). This positive trend is due to sturdy revenue growth from key accounts in light of a generally positive business environment across Africa.

 

The overall group's operating EBITDA came to €1.42M in the first half of 2023, which is far above previous year’s H1 EBITDA of € 0.21M. This massive improvement is due to a significant reduction in costs motivated by long term partnerships, and the acquisition of assets which were previously leased. Accordingly, and based on current profitability, EBITDA for fiscal year 2023 is expected to be above €2.5M, that being significantly higher than the comparative figure for the previous year (2022: €0.16M).