EV Digital Invest AG updates forecast for 2024 and places convertible bonds

EQS-News: EV Digital Invest AG / Key word(s): Change in Forecast
EV Digital Invest AG updates forecast for 2024 and places convertible bonds

30.05.2024 / 18:20 CET/CEST
The issuer is solely responsible for the content of this announcement.

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EV Digital Invest AG updates forecast for 2024 and places convertible bonds

  * EV Digital Invest AG updates EBIT forecast for 2024 to between EUR -3.5m
    and EUR -4.1 million

  * Based on the updated financial planning, there is a capital requirement,
    which will be covered by the issuing of convertible bonds. Majority
    shareholder subscribed the first convertible bond and an obligation to
    subscribe to the second one

  * Key strategic measures successfully implemented in 2024 - acquisition of
    the ECSP licence, introduction of the deposit account, successful launch
    of the first solar financing project, which was fully financed within
    just a few minutes

Berlin, 30 May 2024. EV Digital Invest AG (ISIN: DE000A3DD6W5), operator of
the two online investment platforms 'Engel & Völkers Digital Invest' and
'Digital Invest Assets', expects the effects of the historically
unprecedented real estate crisis to be felt for longer than previously
expected. The company is therefore lowering its forecast for 2024. Based on
the updated financial planning, there is a capital requirement that will be
covered by the placement of two convertible bonds, which will be subscribed
by the majority shareholder. By successfully diversifying its product
portfolio, EV Digital Invest AG is laying the foundations for sustainable
and broad-based growth as soon as the recovery in the property market
becomes clearly noticeable. The aim is therefore to continue to orientate
the company towards sustainable profitable growth in a market environment
that remains challenging.

Marc Laubenheimer, CEO of EV Digital Invest AG, explains: "The current
market situation poses major challenges for all companies related to the
property sector. However, our vision remains intact: we want to become a
multi-asset platform that enables our clients to invest from one Euro to
several million Euros in a wide range of risk classes. We are pleased that
our majority shareholder shares this vision and is providing the capital
required to realise it. We are confident that our new products have been
well received by our customers. Our deposit account product got off to a
good start and our first solar financing project was fully placed within a
few minutes. This gives us confidence for the future."

Update forecast and cover capital requirements
Due to the ongoing difficult market phase, the company expects income1) of
between EUR 2.3 million and EUR 2.7 million for 2024 (2023: EUR 4.5
million). EBIT of between EUR -3.5 million and EUR -4.1 million is planned
for the 2024 financial year (2023: EUR -3.7 million). The previous forecast
for the 2024 financial year envisaged an increase in income of 10 to 30 per
cent compared to the previous year, with an improved EBIT of up to EUR -1.9
million.

At the same time, various measures are being taken to reduce total costs to
between EUR 5.8 million and EUR 6.6 million. The Management Board already
took cost-cutting measures in the first quarter of 2024, enabling total
costs to be reduced by more than 10% in the first three months of the year
compared to the financial planning.

However, in this context, an additional capital requirement was identified.
This will be covered by the placement of two convertible bonds with a total
issue volume of EUR 2.5 million. For this reason, the company decided today
to issue a first convertible bond with a nominal amount of EUR 1.1 million.
This was subscribed by the majority shareholder. In addition, the majority
shareholder has undertaken to subscribe to a further convertible bond with a
nominal value of EUR 1.4 million, which is to be issued after the upcoming
Annual General Meeting. Shareholders' subscription rights have been or will
be excluded. The conversion price is EUR 3.25 per share, emphasizing the
majority shareholder's continued committment to the company's long-term
development. The term of the convertible bonds is 2 years. The bonds are
subject to qualified subordination.

Karl Poerschke, COO of EV Digital Invest AG, explains: "In addition to the
planned stabilisation of revenues, we have already taken initial steps to
reduce costs. We will continue to intensify these efforts. With this concept
and the successful introduction of new products such as the 'ECSP loan'
offer, our deposit account product and solar projects, we were able to
convince our investors."

About EV Digital Invest AG
EV Digital Invest AG, license partner of Engel & Völkers Marken GmbH & Co.
KG, offers investors a broad range of products and services on its digital
investment platforms across various asset classes - from real estate
investments in various asset classes, a deposit account and ETFs to holistic
wealth management. Under the two brands 'Engel & Völkers Digital Invest' and
'Digital Invest Assets', investors can invest from one Euro to several
million Euros - with or without real estate focus. With a sustainable and
quality-focused business strategy, the company has a strong positioning in
attractive growth markets.

Under the "Engel & Völkers Digital Invest" brand, investors are given the
opportunity to participate in selected real estate projects as co-investors.
As a quality-leading platform in the field of digital real estate investment
and financing, as well as part of Engel & Völkers' global licensing partner
network, it enjoys exceptionally high brand recognition. EV Digital Invest
AG has financed real estate projects with over EUR 248 million in investment
volume.

Under the brand "Digital Invest Assets", the company also offers digital
investment opportunities unrelated to real estate. The offering includes a
deposit account, efficient ETF portfolios for general wealth preservation
and growth as well as individual investment solutions - tailored to the
needs and goals of wealthy clients/investors.

More information:
www.ev-digitalinvest.de
www.digitalinvest-assets.de

EV Digital Invest AG
Licence partner of Engel & Völkers Marken GmbH & Co. KG
Joachimsthaler Str. 12
10719 Berlin
www.ev-digitalinvest.de

Contact:
Kirchhoff Consult, Jan Hutterer
Borselstraße 20, 22765 Hamburg
Phone: +49 40 60 91 86 65
E-mail: ev-digitalinvest@kirchhoff.de

1) Income is made up of the following items in the income statement: 1.
sales, 2. other operating income, 3. other interest and similar income.


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30.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        EV Digital Invest AG
                   Joachimsthaler Straße 10
                   10719 Berlin
                   Germany
   Phone:          +49 30 403 69 15 21
   E-mail:         info@ev-digitalinvest.de
   Internet:       www.ev-digitalinvest.de
   ISIN:           DE000A3DD6W5
   WKN:            A3DD6W
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt (Scale), Hamburg, Munich, Stuttgart,
                   Tradegate Exchange
   EQS News ID:    1914827

End of News EQS News Service
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1914827 30.05.2024 CET/CEST