EQS-News

Advanced Blockchain AG presents a strong 2023 despite a difficult market environment

EQS-News: Advanced Blockchain AG / Key word(s): Preliminary Results/Cryptocurrency / Blockchain Advanced Blockchain AG presents a strong 2023 despite a difficult market environment 19.03.2024 / 08:49 CET/CEST The issuer is solely responsible for the content of this announcement. Advanced Blockchain AG presents a strong 2023 despite a difficult market environment

• Revenue: 5.2m €
• EBIT: 2.2m €
• Value of the top 10 portfolio increased by more than 45%

March 19, 2024 – Advanced Blockchain AG ("AB", Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator and investor in the blockchain industry, today published its preliminary figures for the past financial year 2023.

Revenue in 2023 amounted to 5.2m € in 2023 (2022: 14.7m €) and was therefore slightly above the forecast of at least 5.0m € in the 2023 half-year report. The previous year was characterized by active investment management and strategic expansion of the business model. EBIT increased by more than 40% compared to 2022 to 2.2m €.

With these results, Advanced Blockchain AG reached the targets for 2023 at revenue and earnings level. The EBIT margin improved significantly year-on-year to over 42% compared to 11.5% in the previous year.

Simon Telian, CEO of Advanced Blockchain AG, comments: “We have not disappointed our investors, even in a challenging market environment. We will continue to focus on margins and efficiency improvements, but in particular on further developing our business model as the leading blockchain company. As a globally relevant player, we also dominate the German blockchain market and see significant additional potential for our current and future portfolio.“

After focusing primarily on restructuring and cost reduction in 2022 and into 2023, the focus shifted to strategic investments in the course of the 2023 financial year.

This also goes hand in hand with the gradual development of the AI-supported research platform "ABX Analytics" announced in 2023. Advanced Blockchain AG intends to expand its strategic focus on service and consulting-oriented software solutions and at the same time generate recurring income. The first revenues are expected to be actualized in 2024.