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EQS-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain/Half Year Results
Advanced Blockchain AG publishes half-year figures
30.09.2022 / 14:08 CET/CEST
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain AG (Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6) publishes half-year figures and an interim management report. Overall, the group posts a half-year net loss of EUR 537 thousand.
"The net loss was caused by short-term high costs in a phase where we scaled strongly. This problem has now been resolved, as each of our incubations has a set cost ceiling, which is being strictly adhered to. The entire team is working hard to ensure the success of our various projects and we are confident that we will deliver a positive year-end result through successful spinouts", Simon Telian, CEO of Advanced Blockchain AG said.
Running costs have been reduced significantly, with the primary year-end focus being on the validator node business, to expand predictable income streams with low administrative costs. The grants program of the internal investment arm AB.Capital will also be continued.
For the full year of 2022, the company aims to achieve a positive result (EBITDA) and at the least, the level of the half-year result should be reached.
The development of the blockchain industry as well as the general market climate continue to significantly influence the company's success.
The half-year financial statements are linked on the Advanced Blockchain website: https://www.advancedblockchain.com/investor-relations.
About Advanced Blockchain AG:
Advanced Blockchain AG (Scale, Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
30.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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