CORRECTION OF THE MESSAGE FROM 13.05.2019 AT 7:49 A.M.
In the announcement as of 13.05.2019 at 7:49 A.M. the following is corrected: The reported comparative EBITDA (ex coraixx) decreased slightly by 8.9% in the first quarter. A slight increase of 7.96% was reported in the original report. The incorrect indication in the report was caused by a typo in the preparation of the quarterly figures. Capsensixx regrets the incorrect presentation.
The correct announcement reads as follows:
capsensixx AG is expanding its businesses
* Comparative EBITDA (ex coraixx) down slightly by 8.9% in the first quarter
* Oaklet with record results
* Number of managed funds and assets under administration increased
* Investments in digitization expanded
Frankfurt am Main, May 13, 2019 - capsensixx AG (ISIN DE000A2G9M17), a leading provider of Financial Administration as a Service, has started successfully its operations in 2019 and is continuing its planned investments in the expansion of its of Digitization & IT Services segment.
EBITDA (calculated for comparative purposes excluding coraixx's investments) tends 8.9% lower in the 1st quarter of 2019 than in the same quarter of last year. While Fund Management, Administration & Accounting had a negative effect of -13% (quarterly earnings) at the beginning of the year, the Capital Markets & Corporate Services segment recognized a record quarter (earnings growth of + 31%): The expansion of its business activities in the "Third Party" business as well as the recovery of transactions initially scheduled for the fourth quarter of 2018 but postponed due to the Luxembourg implementation of the Anti-Tax Avoidance Directive (ATAD), confirm the growth potential of the segment.
Sven Ulbrich, CEO of capsensixx: "Although the market-driven decreases in assets under administration could not be fully compensated in the first three months, April confirmed the positive trend of the first three months. At the same time, both segments - Fund Management, Administration & Accounting and Capital Markets & Corporate Services - benefit from the strong positioning of both brands for their outstanding quality of services. Of course, we are particularly pleased about the record results of our Capital Markets & Corporate Services segment. "
Beside this, capsensixx and its subsidiary coraixx are continuing their growth strategy in the area of ??Digitization & IT services as projected. Although high investments in this segment are currently accounting for a negative impact on the Group's earnings, the growth prospects and expected growth momentum in this area remain high.
"The fact of being able to create the necessary framework conditions in the first quarter by attracting highly qualified employees and establishing the development center in Dresden is not self-evident given the shortage of skilled workers especially within the IT-industry. In addition to the existing business, coraixx is currently focusing primarily on acquiring new customers and further developing its software solution, as additional features based on ??artificial intelligence have already been requested for major projects. In addition, we will launch a web-based solution in 2019 dedicated to companies, which will process less than 100,000 financial receipts per year" adds Sven Ulbrich.
The interim report as of 31 March 2019 is now available on the company's website in the investor relations section of the company's website at https://capsensixx.de/11-ir.html.
capsensixx manages, structures and executes financial products in various asset classes and product workflows in the financial sector for its customers (Financial Administration as a Service). The business model, which focuses on funds and alternative assets, is characterized by a high proportion of recurring income and profitable growth. The subsidiaries Axxion (capital management) and Oaklet (specialist for securitization and other financial services) have a very strong position on the German-speaking market in these two areas. The technology start-up coraixx is involved in digitizing financial receipts using artificial intelligence, thus expanding capsensixx' value chain and developing new areas of business and customer groups with high growth potential.
You can find further information on www.capsensixx.de
Bettina Street 57-59
D-60325 Frankfurt am Main
Tel. 069/7680 585 0
Fax. 069/7680 585 20
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