{"id":11828,"date":"2024-01-22T12:40:23","date_gmt":"2024-01-22T12:40:23","guid":{"rendered":"https:\/\/avemio.com\/ad-hoc-news\/avemio-ag-forecast-adjustment-for-the-2023-financial-year\/"},"modified":"2024-01-22T12:40:23","modified_gmt":"2024-01-22T12:40:23","slug":"avemio-ag-forecast-adjustment-for-the-2023-financial-year","status":"publish","type":"ad-hoc-news","link":"https:\/\/avemio.com\/en\/ad-hoc-news\/avemio-ag-forecast-adjustment-for-the-2023-financial-year\/","title":{"rendered":"Avemio AG: Forecast adjustment for the 2023 financial year"},"content":{"rendered":"\n\n
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Avemio AG \/ Key word(s): Forecast\/Change in Forecast
Avemio AG: Forecast adjustment for the 2023 financial year<\/p>\n

22.01.2024 \/ 13:40 CET\/CEST<\/span>
Dissemination of inside information pursuant to Article 17 of Regulation (EU) No 596\/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer \/ publisher is responsible for the content of this announcement.<\/p>\n

\n
\n

Publication of inside information pursuant to Article 17 of Regulation (EU) No. 596\/2014<\/p>\n

Avemio AG: Forecast adjustment for the 2023 financial year<\/b><\/p>\n

Frankfurt\/Main, 22.<\/b> <\/b>January 2024<\/b> – The Management Board of Avemio AG (ISIN DE000A2LQ1P6, WKN A2LQ1P) today decided to adjust its forecast for the 2023 financial year, primarily following an unexpectedly weak final quarter in the trading business. For this reason, the realization of already planned synergies from the acquisitions made and the integration of existing subsidiaries is to be accelerated in order to strengthen profitability in the face of the changed market environment.<\/p>\n

Based on the preliminary figures for the fourth quarter of 2023, the Management Board now expects turnover for the 2023 financial year of around EUR 103 million (previously: EUR 120 million; 2022: EUR 108,7 million) and, taking into account preparations for further acquisitions, operating earnings before interest, taxes, depreciation and amortization (EBITDA) of around EUR 0,8 million (previously: EUR 5,0 million; 2022: EUR 4.4 million). According to preliminary calculations, cash flow from operating activities will amount to around EUR 1 million in the past financial year.<\/p>\n

The adjustment to the forecast for the 2023 financial year is due in particular to an unexpectedly weak final quarter and growing pressure on margins in the retail sector. Following the previously strong investments by customers in the coronavirus years, the persistent macroeconomic weakness did not dissipate in the second half of the past financial year, contrary to expectations.<\/p>\n

With equity of around EUR 12.5 million, corresponding to an equity ratio of around 35 %, Avemio AG has a stable balance sheet structure as at December 31, 2023 based on preliminary figures. Cash and cash equivalents of around EUR 5.8 million and free credit lines of around EUR 2.6 million form a solid foundation and also guarantee further company growth. The commitment by the state of Hesse to provide mezzanine financing of around EUR 5 million is intended to support the company’s growth efforts in an equity-friendly manner.<\/p>\n

Despite the current challenging market conditions, the Management Board believes that Avemio AG is in a stable market position to benefit from the growth potential and the usual catch-up effects of the retail business in conjunction with the high-margin digitization business when the economy recovers.<\/p>\n

Contact:<\/b><\/p>\n

Investor Relations
Lindsay Lorent
ir@avemio.com<\/a>
Avemio AG
Schaumainkai 91
60596 Frankfurt<\/p>\n<\/div>\n

End of inside information<\/p>\n

\n

22-Jan-2024 CET\/CEST The EQS Distribution Services include Regulatory Announcements, Financial\/Corporate News and Press Releases.
Media archive at https:\/\/eqs-news.com<\/p>\n

\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Language:<\/td>\nGerman<\/td>\n<\/tr>\n
Company:<\/td>\nAvemio AG<\/td>\n<\/tr>\n
<\/td>\nSchaumainkai 91<\/td>\n<\/tr>\n
<\/td>\n60596 Frankfurt<\/td>\n<\/tr>\n
<\/td>\nGermany<\/td>\n<\/tr>\n
Phone:<\/td>\n06134 5844872<\/td>\n<\/tr>\n
E-Mail:<\/td>\nir@avemio.com<\/td>\n<\/tr>\n
Internet:<\/td>\nwww.avemio.com<\/td>\n<\/tr>\n
ISIN:<\/td>\nDE000A2LQ1P6<\/td>\n<\/tr>\n
WKN:<\/td>\nA2LQ1P<\/td>\n<\/tr>\n
Stock exchanges:<\/td>\nRegulated Unofficial Market in Berlin, D\u00fcsseldorf (primary market), Frankfurt, Munich<\/td>\n<\/tr>\n
EQS News ID:<\/td>\n1820193<\/td>\n<\/tr>\n<\/table>\n

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End of the press release<\/td>\nEQS News Service<\/td>\n<\/tr>\n<\/table>\n
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Avemio AG \/ Key word(s): Forecast\/Change in ForecastAvemio AG: Forecast adjustment for the 2023 financial year 22.01.2024 \/ 13:40 CET\/CESTDissemination of inside information pursuant to Article 17 of Regulation (EU) No 596\/2014, transmitted by EQS News – a service of EQS Group AG.The issuer \/ publisher is responsible for the content of this announcement. 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