Avemio AG: Revenue and Earnings for 2023 Below Forecast According to Preliminary Figures

Frankfurt/Main, 24 June 2024 – Avemio AG's preliminary and unaudited figures reveal that the company's revenue and earnings for the financial year 2023 fell below the forecast adjusted in January. Avemio AG generated a revenue of EUR 99.2 million, against the previous forecast of EUR 103 million, and a significant drop from the 2022 figure of EUR 108.7 million.

The EBITDA, impacted by preparations for further acquisitions, stood at approximately EUR 0.0 million, lower than the forecasted EUR 0.8 million and substantially down from EUR 4.4 million in 2022. This was partly due to the companies MoovIT GmbH and MoovIT Software Products GmbH not being retroactively consolidated from 1 January 2023 as planned, but from 1 September 2023, affecting the revenue by about EUR 3.6 million.

Equity improved significantly by EUR 13.4 million, reaching around EUR 25.9 million as of 31 December 2023, owing to the contribution of Teltec AG. This raised the equity ratio to over 50%. Additionally, Avemio AG holds cash and cash equivalents totaling around EUR 5.5 million and unutilized credit lines of approximately EUR 2.3 million, ensuring solid growth financing.

Looking ahead, the Executive Board remains optimistic about Avemio AG's market positioning and expects stabilization of revenues and earnings in 2024, despite ongoing market challenges. The audited Annual Report 2023 will be published on 28 June 2024.