Düsseldorf, Germany, August 23, 2023 – Avemio AG (ISIN DE000A2LQ1P6, WKN A2LQ1P), a leading system supplier for hardware and software in the field of broadcast as well as professional media, audio and video solutions, today specified its forecast for the current fiscal year following further acquisitions.
For 2023, the Executive Board expects operating earnings before interest, taxes, depreciation and amortization (EBITDA) of around EUR 5.0 million (2022: EUR 4.4 million) and cash flow from operating activities of around EUR 2 million on sales of around EUR 120 million (2022: EUR 108.7 million).
The update of the forecast for 2023 is based on or includes the sales and earnings contributions of the recent acquisitions of the Polish trading company Janusz Rupik Professionelle Videotechnik Polska Sp. z o.o. (PVP) and the video workflow automation specialists MoovIT GmbH and MoovIT Software Products GmbH (MSP) from Cologne.
Ralf P. Pfeffer, Chairman of the Board of Avemio AG:
“We are performing profitably despite our high growth-related investments in personnel and organizational infrastructure. The acquisitions in Poland and Cologne deliver what we announced at our IPO. The acquisition of PVP in Poland marks the start of internationalization in the first non-German-speaking market. Poland is the most important market for us in Eastern Europe, with already noticeable positive strategic effects in neighboring countries with a similarly high fragmentation of the trade landscape. We intend to consolidate these markets – in a similar way to what has already been successfully achieved in Germany – with our leading manufacturer-independent business model, which is unique in the European Union.
In Austria, we have learned a lot about the challenges of so-called EU tax harmonization and the divergent practices of other countries; we are well prepared in this respect. Especially because the former PVP owner Janusz Rupik with his Polish-German background and his professional industry experience in Germany will remain with us in the long term as Managing Director. In 25 years, Janusz Rupik has made PVP one of the most established companies in Poland and, with our support, is now striving to become the market leader in the Polish market.
Through the merger with the MoovIT Group from Cologne, we succeeded in the long-planned and prepared further development from a trading group to a media technology group. This merger releases great synergy potential. The growth potential of our retail business coupled with the high-margin business approach of our digitization or IT/CI strategy provides a solid basis for further development into the European market leader.”
The initial studies of the analysts of GBC as well as Montega on the growth prospects of the Avemio share are available for download on the website at https://avemio.com/.
To Avemio AG:
Avemio Aktiengesellschaft is a media technology group focusing on professional film and television technology. The trading group, which has been growing strongly for many years and has the highest sales in the German-speaking B2B market with over EUR 100 million, supplies content producers as a manufacturer-independent provider with products from all major manufacturers. This also includes consulting and technical support for complete production, post-production and broadcast systems as well as the planning, creation and system integration of media technology workflows with our own software products and cloud offerings. The share capital of Avemio AG is divided into 3,432,150 bearer shares without par value and listed on the primary market of the Düsseldorf Stock Exchange. At the beginning of 2023, the IPO took place in the form of a reverse IPO. In this context, after 30 years of existence, Teltec AG took over Palgon AG, a shelf company listed on the Düsseldorf stock exchange, and renamed it Avemio AG. The company was admitted to the primary market and to the Xetra trading platform. Avemio AG plans to internationalize as part of a buy-and-build strategy with target companies already identified and to expand its high-margin software offering.
Ralf P. Pfeffer
Chairman of the Board