ADVANCED BLOCKCHAIN AG
EQS-News: Advanced Blockchain AG
/ Key word(s): Half Year Report
Advanced Blockchain significantly improves earnings in the first half of 2023
29 September 2023 – Advanced Blockchain AG ("AB," Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator, architect, and investor in the blockchain industry, developed according to plan in the first half of the year. Sales reached € 1.2 million in the first six months of 2023 (H1 2022: € 23.4 million). The previous year was characterized by OTC token transactions and strategic expansions of the business model. In contrast, EBIT improved significantly to €0.5 million (H1 2022: €-0.5 million). Net liquidity was over €0.3 million at the end of June 2023. In H1 2023, Advanced Blockchain invested around €3 million in promising projects and disruptive technologies. Simon Telian, CEO of Advanced Blockchain commented, "With the crypto market continuing to be highly volatile, we were able to significantly improve earnings as planned. We consistently continue on our path as an innovation leader in the industry, with a clear focus on margins and efficiency improvements. We firmly believe that blockchain-oriented business models have enormous growth potential. Recent developments in European regulation support our assessment." As of May 31, 2023, Advanced Blockchain has for the first time had a valuation of the top10 portfolio stocks conducted, which demonstrates the company's investment success. The external and independent valuation of the Top10 portfolio assets resulted in a total valuation of EUR 39.65 million based on acquisition costs of EUR 4.7 million, marking the first time in the German blockchain industry that token assets are included in the portfolio valuation. In fiscal year 2023, Advanced Blockchain remains focused on sustainable growth, with a simultaneous focus on cost structures. The company expects revenues from token transactions (especially OTC transactions) and the potential realization of investments in upcoming token launches (TGE). Based on the current demand situation, management continues to expect revenues in the amount of EUR 5 million for the full year 2023. Earnings should improve significantly compared to the previous year. The half-year report 2023 is available for download at https://www.advancedblockchain.com/investor-relations.
Contact About Advanced Blockchain AG: For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
29.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Advanced Blockchain AG |
| Scharnhorststraße 24 | |
| 10115 Berlin | |
| Germany | |
| Phone: | +4930403669510 |
| Fax: | 030403669511 |
| E-mail: | info@advancedblockchain.com |
| Internet: | www.advancedblockchain.com |
| ISIN: | DE000A0M93V6 |
| WKN: | A0M93V |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1737987 |
| End of News | EQS News Service |
1737987 29.09.2023 CET/CEST
