DGAP-Adhoc: Advanced Bitcoin Technologies AG improves earnings, assets and financial position in 2021 – boerse.de

DGAP-Ad-hoc: Advanced Bitcoin Technologies AG / Key word(s): Annual Report/Cryptocurrency / Blockchain
Advanced Bitcoin Technologies AG improves earnings, assets and financial position in 2021

06/30/2022 / 21:49 CET/CEST
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Advanced Bitcoin Technologies AG improves earnings, assets and financial position in 2021

Frankfurt am Main, June 30, 2022 – Advanced Bitcoin Technologies AG (ABT, ISIN: DE000A2YPJ22) improved its earnings, assets and financial position in the fiscal year from January 1 to December 31, 2021. The ABT Group has reduced its net loss to EUR -0.8 million (2020 financial year (previous year) EUR -28.2 million), the value of its crypto assets to EUR 8.7 million (previous year 7, EUR 2 million) and reduced its negative cash flow to EUR -0.2 million (previous year: EUR -0.8 million). In addition, the strategic reorientation was continued and operational milestones were reached.

Group sales amounted to EUR 76 thousand (previous year: EUR 10 thousand). The operating profit (EBITDA, defined as total output plus other operating income less cost of materials, personnel expenses and other operating expenses) was EUR 1.3 million (previous year: EUR 3.3 million). The positive EBITDA resulted primarily from the further increase in value of the cryptocurrency balances by EUR 1.5 million (previous year: EUR 4.8 million). Using the LiFo method and taking historical acquisition costs into account as the upper limit, the crypto assets amounted to EUR 8.7 million as of the balance sheet date (previous year: EUR 7.2 million), while the market value as of the balance sheet date was EUR 37.6 million and is current is 12.8 million euros.

The lower net loss of EUR -0.8 million (previous year EUR -28.2 million) is primarily due to lower depreciation of intangible assets of EUR 2.4 million (previous year EUR 47.4 million ) and the associated reduction in deferred tax income to EUR 0.7 million (previous year: EUR 16.2 million). The negative cash flow was reduced to EUR -0.2 million (previous year: EUR -0.8 million) thanks to group-wide cost savings. As of December 31, 2021, group equity fell to EUR 8.4 million (previous year: EUR 9.0 million), with the equity ratio amounting to 52.8% (previous year: 52.9%).

At the level of the individual financial statements, ABT achieved sales of EUR 200 in 2021 (previous year: EUR 5 thousand), EBITDA of EUR -0.6 million (previous year: EUR -0.4 million) and a net loss for the year of EUR -0.6 million (previous year: EUR -19.0 million). The result resulted primarily from personnel costs (EUR 0.2 million, previous year: EUR 0.1 million) and other operating expenses (EUR 0.4 million, previous year: EUR 0.3 million). As of the balance sheet date, equity was EUR 21.4 million (previous year: EUR 21.2 million). The equity ratio remained unchanged at 99.0% (previous year: 99.0%).

ABT continued its strategic reorientation in 2021: The 100% group company savedroid FL GmbH received registration as a TT exchange service provider from the Liechtenstein Financial Market Authority (FMA), the products were improved and the strategy expansion to become an ecosystem builder was implemented. On this basis, the first milestones were reached in 2022: As part of the ecosystem builder activities, 20 crypto tokens were identified for investment. Early-stage blockchain and digital assets startups are currently being evaluated with a view to making an initial investment later this year. The new mobile app “twest – Get Bitcoin by tweet” has been launched. In the next step, “SecPay – The digital cash register system” will be put into operation for business customers.

Against this background, ABT expects an improvement in the earnings situation for the full year 2022. Assuming that the current efforts to release the crypto assets of savedroid AG with the necessary cooperation of the former ICO trustee are successful in accordance with the second-instance judgment of the Cologne Higher Regional Court in favor of savedroid AG, ABT assumes that liquidity will develop stable . This assessment is based on a positive success prognosis submitted by the lawyers of savedroid AG for the current non-admission appeal against the OLG judgment at the Federal Court of Justice.

The complete audited consolidated financial statements and the individual financial statements are available for download on the homepage https://www.abt-ag.com in the Investor Relations area in the Financial News – Publications and Presentations section.

Investor and media contact

Viona Brandt

VIONA BRANDT COMMUNICATIONS

Telephone: +49 175 93 93 320

Email: [email protected]

06/30/2022 CET/CEST The DGAP distribution services include legal reporting requirements, corporate news/financial news and press releases.
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