Adjustment of Group key figures for 2023 and publication of outlook for 2024

Advanced Blockchain AG: Adjustment of Group key figures for 2023 and publication of outlook for 2024

July 30, 2024 - Advanced Blockchain AG (‘AB’, Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator and investor in the blockchain industry,  has determined in the course of preparing its 2023 HGB consolidated financial statements that the preliminary figures published on March 19, 2024 (revenue EUR 5.2 million; EBIT* EUR 2.2 million) were overstated. The preliminary financial figures inadvertently contained IFRS figures from a subsidiary that included unrealized gains of around EUR 2 million from token assets. The final consolidated figures are not yet available, as the audit of the voluntary consolidated financial statements for 2023 and in particular the foreign subsidiaries included therein is still ongoing and there may be further significant changes. The key financial figures of the already published annual financial statements 2023 of Advanced Blockchain AG are not affected by this.

The Management Board of Advanced Blockchain AG expects the company to develop successfully in the current financial year. Based on the business development in the first half of 2024, Advanced Blockchain expects a consolidated operating result EBITDA* of at least EUR 1.0 million for the full year 2024 despite the current volatile market environment in accordance with the German Commercial Code (HGB).

Advanced Blockchain plans to publish the next independent evaluation of the top 10 portfolio stocks in the coming weeks.

*EBITDA is defined as earnings before interest, taxes, depreciation and amortization. EBIT is defined as earnings before interest and taxes.