EQS-News

CHAPTERS Group AG finishes successful 2023 financial year; Strong momentum continues in 2024 - Seite 3

2023 Financial Update

The company’s equity base grew by c. Euro 35m in the 2023 fiscal year at the level of the AG with two capital increases (in May and November) and the foundation for further growth was laid. The number of shares outstanding as of December 31, 2023, is 18,149,192.

The Base Value as of December 31, 2023, is around Euro 8.00 per share (2022: Euro 6.52 per share). For the Base Value, the companies belonging to the group are valued based on the adjusted EBITDA for the past fiscal year using the multiple used as a basis at the time of purchase, and the proportionate value attributable to CHAPTERS Group AG – less the relevant company’s net debt – is taken into account. In addition, parent company assets and liabilities of CHAPTERS Group AG are taken into account (primarily securities, cash and perpetual bonds)

The adjusted EBITDA 2023 of all operating companies in which CHAPTERS Group AG holds a majority interest as of December 31, 2023, amounts to around Euro 24.5 million. The proportion of this attributable to CHAPTERS Group AG is around Euro 15.0 million.

The financial debt at the level of the group companies as of December 31, 2023, amounts to around Euro 33 million, and the shareholder loans provided by CHAPTERS Group AG to around Euro 84.4 million.

The amount invested in minority interests was around Euro 15.5 million as of December 31, 2023. Liquid funds, including the securities portfolio at CHAPTERS Group AG level, amounted to around Euro 40 million as of December 31, 2023. The outstanding amount of the perpetual bond is around Euro 22 million.

For the parent company financial statements according to HGB for the 2023 fiscal year, the Management Board expects a result of around Euro 2.5 million before considering the results from the securities portfolio managed by the company and provisions for stock-based compensation (2022: Euro 0.2 million).

The realized loss from securities amounts to approx. Euro 3.2 million  (previous year income of Euro 1.2 million).  This is offset by release of previous years’ depreciation on securities of Euro 4.1 million so that a net income from the securities portfolio of Euro 0.9 million is expected (previous year net loss of 5.3 million). Taking into account the accounting loss resulting from the bond re-issuance and provisions for stock-based compensation, net income is expected to amount to 1.7 million (previous year net loss of 5.2 million). The balance sheet total is expected to be around Euro 163 million (previous year Euro 125 million), and equity under commercial law around Euro 137 million (previous year: Euro 100 million).