DGAP-News: Bitcoin Group SE / Key word(s): Half Year Results
Bitcoin Group SE publishes Half-Year Report 2020 – dynamic growth despite challenging environment
– Sales increased sharply by more than 153 percent to TEUR 6,228
– EBITDA more than tripled to TEUR 4,177 (previous year: TEUR 1,231)
– Management confirms all forecasts
Herford, September 30, 2020 – Bitcoin Group SE (ISIN DE000A1TNV91) today presented figures for the first half-year 2020. The Group recorded significant growth, despite a challenging environment due to the coronavirus pandemic. Sales amounted to TEUR 6,228 compared to TEUR 2,455 in the first half of 2019. At the same time, Bitcoin Group SE recorded a significant increase in earnings before interest, taxes, depreciation and amortization (EBITDA) by 239 percent from TEUR 1,231 in the first half of the previous year to TEUR 4,177 thousand in the first half of 2020. Earnings before interest and taxes (EBIT) improved from TEUR 4,228 in the first half of 2019 to TEUR 5,042 at the end of June 2020. Consequently, earnings per share increased significantly to EUR 0.70 in the first six months of 2020 compared to EUR 0.57 in the first half of the previous year. This corresponds to a growth of 22.8 percent
Over the entire reporting period Bitcoin.de, the cryptocurrency trading platform operated by the wholly owned subsidiary Bitcoin Deutschland AG, recorded strong customer interest. The number of users grew from 840,000 at the end of 2019 to 884,000 in the first half of 2020, with an average of 7,333 new customers per month deciding to use the extensive services of Bitcoin.de. After a transitional weak phase in the share price at the peak of the lockdown due to coronavirus, however, Bitcoin recovered significantly in the course of the period under review. At EUR 8,142.56 at the end of the first half of 2020, the Bitcoin share price was significantly higher than the 2019 year-end price of EUR 6,516.03 and roughly at the pre-crisis level. Both the positive developments of major cryptocurrencies and the success in acquiring new customers ensured increased trading volumes on Bitcoin.de and an overall successful first half of 2020 of Bitcoin Group SE.
The Company continues to work with full commitment on the diversification of its business model. This includes the resolution adopted after the reporting period to merge Bitcoin Deutschland AG with futurum bank AG in order to increase the value of the Company. This integration measure will enable Bitcoin Group SE to strengthen the Group’s offering as a cryptocurrency trading platform and depository and to offer its customers an even better service from a single unit. The aim is to make the crypto marketplace accessible to institutional and corporate customers in the future. In this way, Bitcoin Group SE opens up new sales potentials and customer base.
“The business development in the first half of 2020 makes us satisfied and optimistic. Satisfied above all, because we have shown that we can and will stand by our strategy even under challenging market conditions. The steady increase in the number of users underlines the reliability and attractiveness of our service portfolio, which we are now opening up to institutional investors. We are expanding our position step by step – on behalf of our customers and shareholders,” says Marco Bodewein, Managing Director of Bitcoin Group SE.
The Management confirms the forecasts made for the full year 2020. With regard to the positive development in the acquisition of new customers, the company expects a total of 900,000 registered users for the entire year. Sales and earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to remain constant or increase strongly.
The English version of the half-year report 2020 will be available in October 2020. The German version of the half-year report 2020 can be downloaded as a PDF document from bitcoingroup.com in the Investor Relation section.
About Bitcoin Group SE:
Bitcoin Group SE is listed on the Primary Market of Dusseldorf Stock Exchange and on all other German stock exchanges (ticker symbol: ADE, ISIN: DE000A1TNV91, GSIN: A1TNV9). More information on Bitcoin Group SE can be found at www.bitcoingroup.com.
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30.09.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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|Company:||Bitcoin Group SE|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1137648|
|End of News||DGAP News Service|