Bitcoin Group SE presents Annual Report 2023: Crypto treasury more than
doubled to almost EUR 165 million

EQS-News: Bitcoin Group SE / Key word(s): Annual Report
Bitcoin Group SE presents Annual Report 2023: Crypto treasury more than
doubled to almost EUR 165 million

11.07.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Bitcoin Group SE presents Annual Report 2023: Crypto treasury more than
doubled to almost EUR 165 million

Herford, 11 July 2024 - Bitcoin Group SE (ISIN DE000A1TNV91) published its
Annual Report 2023 today. The 2023 financial year was characterised by low
trading activity due to challenging external conditions for the financial
markets, such as high inflation, rising interest rates and geopolitical
tensions.

Bitcoin Group SE generated revenue of EUR 7.8 million in the financial year
2023 after EUR 8.3 million in the previous year. The decline is primarily
due to low trading activity on the Bitcoin.de cryptocurrency trading
platform operated by the wholly-owned subsidiary futurum bank AG,
particularly in the first three quarters. Trading activity on Bitcoin.de did
not pick up until the significant recovery of Bitcoin as the most important
benchmark for cryptocurrencies in the fourth quarter of 2023.

Earnings before interest, taxes, depreciation and amortisation (EBITDA)
amounted to EUR -1.8 million in the financial year 2023 compared to EUR 1.4
million in the previous year. In addition to the overall low level of
trading activity, this development is attributable to higher personnel costs
due to inflation and, above all, the one-off costs in connection with the
acquisition of Bankhaus von der Heydt, which was cancelled in May 2023. The
bottom line was a net profit of EUR 1.9 million after EUR -2.4 million in
the previous year. The significant year-on-year improvement is primarily due
to reversals of impairment losses. Accordingly, earnings per share totalled
EUR 0.39 after EUR -0.48 per share in the previous year, with the number of
shares remaining unchanged.

The Bitcoin Group continues to have a rock-solid balance sheet. Equity
increased year-on-year from EUR 73.3 million to EUR 137.9 million in the
reporting period due to the increase in retained earnings and the higher
valuations of the cryptocurrencies held in treasury. Net crypto holdings
increased to EUR 164.8 million as at the 2023 reporting date due to the
price increase on the crypto market, compared to EUR 70.8 million as at 31
December 2022. The equity ratio was 74.7% as of 31 December 2023 (31
December 2022: 77.2%). Cash and cash equivalents totalled EUR 11.1 million
after EUR 14.9 million as of the 2022 balance sheet date.

"Our stable financial position allows us to once again distribute a dividend
of EUR 0.10 per share, as in the two previous years. We will submit a
corresponding dividend proposal to the Annual General Meeting on 30 August
2024," says Marco Bodewein, CEO of Bitcoin Group SE.

At a strategic level, the focus in the financial year was on the further
technical development of the Bitcoin.de marketplace to continue to offer the
user base, which grew from around 1,040,000 to around 1,055,000 in the
reporting period, a simple and reliable way to trade cryptocurrencies. In
addition, important regulatory decisions were made: In the USA, crypto spot
ETFs have now been authorised by the US Securities and Exchange Commission
(SEC), while in the European Union, legal clarity has largely been created
in the handling of digital assets.

"The course set at regulatory level will further increase the acceptance of
cryptocurrencies as an asset class. I am firmly convinced that we will
continue to score points with institutional and private clients with our
regulated and reputable range of services," continues Bodewein.

Following the formative regulatory progress and growing institutional
participation in the 2023 financial year, the crypto industry is
fundamentally poised for further growth. However, interest in
cryptocurrencies and thus in trading fluctuates greatly depending on a
variety of external influences, which makes it difficult to forecast with
any accuracy for the 2024 financial year. Market development remains
unusually challenging, particularly due to the geopolitical environment and
the dynamics of regulation. Against this backdrop, the Management Board of
Bitcoin Group AG therefore expects revenue to remain stable for 2024 as a
whole and also anticipates a slightly positive EBITDA.

The Annual Report 2023 is available for download as a PDF document in the
Publications section of bitcoingroup.com. The English Report will be
available by the end of July 2024.

About Bitcoin Group SE:

Bitcoin Group SE is a holding company focusing on innovative and disruptive
business models and technologies from the cryptocurrency and blockchain
sectors. Bitcoin Group SE holds 100% of the shares in futurum bank AG, which
operates a trading platform for the digital currencies Bitcoin, Ethereum,
Bitcoin Cash, Bitcoin Gold, Litecoin, Dogecoin, Tron, Solana and Ripple
under Bitcoin.de, and 50% of the shares in Sineus Financial Services GmbH, a
financial services provider supervised by BaFin.

Bitcoin Group SE is listed on the primary market of the Düsseldorf Stock
Exchange as well as on all other German stock exchanges and XETRA (stock
exchange symbol: ADE, ISIN: DE000A1TNV91, GSIN: A1TNV9). For more
information on Bitcoin Group SE, please visit bitcoingroup.com.

About Bitcoin.de:

Bitcoin.de is a marketplace for crypto assets licensed in Germany and, with
more than 1,000,000 registered users, is also one of Europe's largest crypto
marketplaces. After more than 10 years of operation, Bitcoin.de has the
reputation of being one of the most secure Bitcoin marketplaces in the
world. Since users do not transfer euros to a trust account but pay
conveniently from their bank account, the euros used for trading are even
deposit-backed. The cryptocurrencies managed by Bitcoin.de are held 98% in
secure cold wallets. Bitcoin.de is the first and so far only Bitcoin trading
platform worldwide to have customer balances audited once a year by a
publicly appointed German auditing firm (current audit as of November 22,
2022). The unique express trading allows trading to take place as quickly as
on an exchange. In addition to Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash
(BCH), Bitcoin Gold (BTG), Litecoin (LTC), Dogecoin (DOGE), Tron (TRX),
Solana (SOL) and Ripple (XRP) can be traded against euros on Bitcoin.de.

Contact:
Bitcoin Group SE
Marco Bodewein
Luisenstraße 4
32052 Herford
E-Mail: ir2024@bitcoingroup.com
Telefon: +49.5221.69435.20
Telefax: +49.5221.69435.25
Website: www.bitcoingroup.com

Investor Relations Contact:
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Tel.: +49.89.1250903-30
E-Mail: sh@crossalliance.de
Website: www.crossalliance.de


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   Language:       English
   Company:        Bitcoin Group SE
                   Nordstrasse 14
                   32052 Herford
                   Germany
   Phone:          +49.5221.69435.20
   Fax:            +49.5221.69435.25
   E-mail:         ir2023@bitcoingroup.com
   Internet:       www.bitcoingroup.com
   ISIN:           DE000A1TNV91
   WKN:            A1TNV9
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf
                   (Primärmarkt), Frankfurt, Hamburg, Hanover, Munich,
                   Stuttgart, Tradegate Exchange
   EQS News ID:    1943489

End of News EQS News Service
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1943489 11.07.2024 CET/CEST