11.05.2018
Bitcoin Group SE DE000A1TNV91
DGAP-News: Bitcoin Group SE publishes 2017 annual report: Record revenue and earnings
DGAP-News: Bitcoin Group SE / Key word(s): Final Results
Bitcoin Group SE publishes 2017 annual report: Record revenue and earnings
11.05.2018 / 14:15
The issuer is solely responsible for the content of this announcement.
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Bitcoin Group SE publishes 2017 annual report: Record revenue and earnings
- Revenue growth to EUR 12,481 thousand (previous year: EUR 1,044 thousand)
- Earnings before taxes jump to EUR 10,888 thousand (previous year: EUR 208
thousand)
- Start of trading in additional cryptocurrencies planned
- Outlook for 2018: Further growth in customer numbers and sales expected
Herford, May 11, 2018 - Bitcoin Group SE (ISIN: DE000A1TNV91) closed fiscal
2017 with record levels of revenue and earnings. The company benefited in
particular from strong demand for Bitcoin and other cryptocurrencies. The
Group has a clear USP within the industry thanks to Bitcoin.de, Germany's
only regulated marketplace for digital currencies, which is operated by its
wholly-owned subsidiary Bitcoin Deutschland AG. Demand for cryptocurrencies
was reflected also in the high level of popularity of the innovative trading
services offered by Bitcoin.de. The trading platform had 667,000 customers
(currently over 745,000) at the end of December 2017 compared with just
356,000 in the previous year. With an average of 26,000 customers joining
Bitcoin.de every month, the target of 480,000 customers by year-end was
exceeded by some distance.
In an encouraging development, the growth in user numbers was accompanied by
an equally dynamic upturn in the trading volume, which was well in excess of
the forecast of EUR 1 billion at EUR 1.2 billion - for the cryptocurrency
Bitcoin alone. Trading volume for the new cryptocurrencies Bitcoin Cash
(BCH) and Ethereum (ETH), which commenced trading in the third quarter of
2017, amounted to around EUR 250 million. The strong rise in the price of
the cryptocurrency Bitcoin and the inclusion of further cryptocurrencies
such as Ethereum and Bitcoin Cash proved to be beneficial. Based on the
developments described above, Bitcoin Group SE generated record revenue of
EUR 12,481 thousand in fiscal 2017 compared with EUR 1,044 thousand in the
previous year. As a result, earnings before taxes jumped to EUR 10,888
thousand (previous year: EUR 208 thousand). Earnings after taxes multiplied
to EUR 7,452 thousand (previous year: EUR 114 thousand).
"We are delighted by the dynamic business development in the past year. With
sustained high customer interest and the continued expansion of the
available infrastructure, the liquidity of cryptocurrencies will increase
and prices will become less susceptible to fluctuation. The victory march of
Bitcoin & Co. will be unstoppable. We are already making a fundamental
contribution to this evolution with Bitcoin.de, offering our customers an
innovative trading system with the very highest security standards and an
interface with the traditional banking system. In the current fiscal year,
we will continue to focus on permanently improving Bitcoin.de while
expanding our market-leading position at the same time. We intend to pursue
these objectives with passion and pleasure, just like we managed with great
success in the past year," commented Michael Nowak, Managing Director of
Bitcoin Group SE.
Bitcoin Group SE enjoys a strong statement of financial position. Total
current assets increased by 1,594% year-on-year to EUR 49,027 thousand as of
December 31, 2017 (previous year: EUR 2,893 thousand). This significant
increase was achieved on the back of the higher number of bitcoins held by
the company and the general rise in the Bitcoin price. Equity increased by
EUR 32,107 thousand to EUR 38,190 thousand in the reporting period as a
result of retained earnings (EUR 7,452 thousand) and other comprehensive
income (EUR 24,659 thousand).
Outlook for 2018
For the current 2018 financial year, the company expects further growth in
the number of customers and sales. Assuming only moderate cost-side
increases, the management is also anticipating a strong increase in
earnings. Costs relate in particular to investments in research and
development activities for the expansion of Bitcoin.de. In addition to the
existing cryptocurrencies Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold
(BCG) and Ethereum (ETH), a large number of other cryptocurrencies are to be
included in trading on Bitcoin.de in the current fiscal year. The expansion
focuses on Ripple, Litecoin, IOTA, DASH and Monero. The usability of the
platform will also be improved continuously in 2018 and Bitcoin.de will
receive a new, contemporary design. Based on these measures, the Group
expects a further increase in the number of registered Bitcoin.de users to
over 1 million by the end of 2018
Furthermore, Bitcoin Group SE plans to acquire a majority stake in a
regulated bank based in Germany in the current 2018 financial year. "This
would be a major milestone for the operation of a Bitcoin exchange and also
the regulatory basis for the planned installation of the first Bitcoin ATMs
in Germany. The successful partnership with Fidor Bank AG, whose 5th
anniversary this year will be celebrated by both companies at the Tech Open
Air (TOA) in Berlin from June 19 to 22, is not at disposal," adds Michael
Nowak.
The 2017 annual report can be downloaded in PDF format from the Investor
Relations section of the company's website at www.bitcoingroup.com.
About Bitcoin Group SE:
Bitcoin Group SE is a holding company focusing on innovative and disruptive
business models and technologies in the areas of Cryptocurrency and
Blockchain. Bitcoin Group SE holds 100% of the shares in Bitcoin Deutschland
AG, which operates Germany's only regulated marketplace for the digital
currency Bitcoin, Bitcoin Cash and Ethereum under Bitcoin.de.
Bitcoin Group SE is listed on the Primary Market of Dusseldorf Stock
Exchange and on Frankfurt Stock Exchange (ticker symbol: ADE, ISIN:
DE000A1TNV91, GSIN: A1TNV9). More information on Bitcoin Group SE can be
found at www.bitcoingroup.com.
Contact:
Bitcoin Group SE
Michael Nowak
D-Nordstrasse 14
32051 Herford
mail: [email protected]
phone.: +49.5221.69435.20
fax: +49.5221.69435.25
website: www.bitcoingroup.com
German Securities Identification Number (GSIN): A1TNV9
ISIN: DE000A1TNV91
Ticker symbol: ADE
Investor Relations contact:
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
phone.: +49 (0)89 89827227
mail: [email protected]
website: www.crossalliance.com
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11.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Bitcoin Group SE
Nordstrasse 14
32051 Herford
Germany
Phone: +49.5221.69435.20
Fax: +49.5221.69435.25
E-mail: [email protected]
Internet: www.bitcoingroup.com
ISIN: DE000A1TNV91
WKN: A1TNV9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf
(Primärmarkt), Frankfurt, Hamburg, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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684921 11.05.2018
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