24.06.2024 17:49:28 - EQS-Adhoc: Avemio AG: Revenue and earnings for 2023 below forecast according to preliminary figures

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EQS-Ad-hoc: Avemio AG / Key word(s): Preliminary Results/Profit Warning
Avemio AG: Revenue and earnings for 2023 below forecast according to preliminary figures
24-Jun-2024 / 17:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News
- a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014
Avemio AG: Revenue and earnings for 2023 below forecast according to preliminary figures
Frankfurt/Main, 24 June 2024 - Based on preliminary and unaudited figures, Avemio AG's revenue and earnings in the past
financial year 2023 are below the forecast adjusted in January 2024. Accordingly, Avemio AG (ISIN DE000A2LQ1P6, GSIN
A2LQ1P) generated revenue of EUR 99.2 million in the 2023 financial year (previous forecast: EUR 103 million; 2022:
EUR 108.7 million) and, taking into account preparations for further acquisitions, earnings before interest, taxes,
depreciation and amortization (EBITDA) of around EUR 0.0 million (previous forecast: EUR 0.8 million; 2022:
EUR 4.4 million).
The main reason for the change in revenue development is that the companies MoovIT GmbH and MoovIT Software Products
GmbH, which were acquired in June 2023, were not consolidated retroactively as of 1 January 2023, contrary to the
original planning, but as of 1 September 2023. The effect on revenue amounts to around EUR 3.6 million. The change in
EBITDA is also characterized by unexpectedly higher start-up and development costs for start-ups and incubators in the
scope of consolidation.
Equity improved by EUR 13.4 million to around EUR 25.9 million as of 31 December 2023 due to the contribution of Teltec
AG, corresponding to an increase in the equity ratio to over 50%.
With cash and cash equivalents totaling around EUR 5.5 million as of the 2023 balance sheet date and unutilized credit
lines of around EUR 2.3 million, Avemio AG has solid financing for the company's further growth. There is still a
commitment from Beteiligungs-Managementgesellschaft Hessen mbH (BMH, Investment Management Company of the State of
Hessen) for a silent partnership in the amount of EUR 5 million, which will further strengthen equity and serve to
support future acquisitions.
Despite the still challenging market conditions, the Executive Board believes that Avemio AG's market positioning is
promising and expects revenues and earnings to stabilize in the current 2024 financial year.
Publication of the Annual Report 2023:
Avemio AG will publish the audited Annual Report 2023 on 28 June 2024 in the IR section of the website at https://
avemio.com/en/news/.
Contact:
Investor Relations
Lindsay Lorent
ir@avemio.com
Avemio AG
Schaumainkai 91
60596 Frankfurt
End of Inside Information
24-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press
Releases.
Archive at www.eqs-news.com  
Language:     English 
Company:      Avemio AG 

Schaumainkai 91
60596 Frankfurt
Germany
Phone:        06134 5844872 
E-mail:       ir@avemio.com 
Internet:     www.avemio.com 
ISIN:         DE000A2LQ1P6 
WKN:          A2LQ1P 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich 
EQS News ID:  1931893 


End of Announcement EQS News Service
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1931893 24-Jun-2024 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1931893&application_name=news

END) Dow Jones Newswires

June 24, 2024 11:49 ET (15:49 GMT)
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
AVEMIO AG INH O.N. A2LQ1P Frankfurt 5,700 04.07.24 17:20:02 -0,020 -0,35% 0,000 0,000 5,040 5,720

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