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DGAP-News: Mountain Alliance AG / Key word(s): Annual Results/Annual Report
Mountain Alliance AG publishes annual report 2021 – Net Asset Value per share increases to EUR 7.34
- Portfolio value increases to EUR 52.5 million after EUR 50.8 million in the previous year
- Net asset value (NAV) improves to EUR 50.5 million (previous year: EUR 47.8 million) or EUR 7.34 per share
- Consolidated result increases to EUR 3.77 million (previous year: EUR 2.94 million) or EUR 0.55 per share (previous year: EUR 0.48)
- Investments attract renowned investors for growth financing
- Continued high investor demand for technology and e-commerce investments
Munich, 05 May 2022 – Mountain Alliance AG (MA, ISIN DE000A12UK08) published its Annual Report 2021 and Net Asset Value of the investment portfolio as of 31 December 2021 today.
The financial year 2021 was again characterized by strong interest from investors in digital and technology-oriented assets of the Mountain Alliance AG´s portfolio, which was reflected in a further increase in portfolio value. On the other hand, the restrictive regulatory measures in the context of the corona pandemic continued to temporarily affect the operational development of individual investments.
As of 31 December 2021, the portfolio value of the four segments Technology, Digital Business Services, Digital Retail and Meta-Platforms & Media increased to the new level of EUR 52.5 million, compared to EUR 50.8 million in the previous year. The negative development of the share price of the listed investments, in particular Exasol AG, was more than offset by the dynamic increase in value of Lingoda and Qwello, among others. Considering the net financial liabilities of EUR 2.0 million (previous year: EUR 3.0 million), the net asset value (NAV) of Mountain Alliance AG amounts to EUR 50.5 million or EUR 7.34 per share. This corresponds to an increase of 5.9% compared to the previous year.
Mountain Alliance AG generated a consolidated turnover of EUR 10.1 million in financial year 2021 compared to EUR 9.8 million in the previous year. This is an encouraging development, as public restriction measures temporarily slowed the business performance of shareholdings such as getonTV, promipool and Shirtinator. Earnings before interest, taxes, depreciation and amortisation (EBITDA) improved from minus EUR 2.25 million in the previous year to minus EUR 1.11 million. Earnings before interest and taxes (EBIT) reached minus EUR 1.82 million, compared to minus EUR 2.99 million in the previous year. Overall, the consolidated result in 2021 was EUR 3.77 million compared to 2.94 million in financial year 2020. Earnings per share were EUR 0.55 and therefore 14.6% above the previous year's figure.
The total assets of the Group decreased to EUR 50.8 million as of 31 December 2021 (31 December 2020: EUR 55.9 million). The equity ratio remained on a solid and high level at 84% (31 December 2020: 69%).
“The further increase of our net asset value is a reflection of the high demand from renowned investors for investments from our portfolio. The successful growth initiatives and financing rounds at various investments, in particular at Lingoda and Qwello, confirm our decision to invest in hidden champions at an early stage,” said Manfred Danner, Member of the Management Board of Mountain Alliance AG.
Mountain Alliance AG aims to further expand the Group by acquiring attractive portfolios. The medium-term targets, which include an increase in portfolio value to EUR 100 million, will be maintained. For the financial year 2022, the Management expects an increase in consolidated turnover of 5% to 10% for the fully consolidated investments. In terms of net asset value, the Management expects a further positive development based on the growth of the portfolio companies, increasing investor interest and value-enhancing acquisitions, subject to the future performance of the listed investments. Based on a net asset value of EUR 52.5 million as of 31 December 2021, an organic increase of 5% to 10% is expected for 2022.
This forecast is based on the assumption that the measures taken in the wake of the corona pandemic will remain at the level of financial year 2021 or even be reduced. The war in Ukraine has so far not had any significant impact on the business development of Mountain Alliance AG. However, the forecast is subject to the condition that the geopolitical upheavals in connection with the war in Ukraine will not further restrict the development of the global economy. Negative effects on the performance of the investments can therefore not be ruled out and may lead to plan adjustments.
Net Asset Value calculation of the MA Group
The complete Annual Report 2021 is available for download in the Investor Relations section at www.mountain-alliance.de.
05.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Mountain Alliance AG
+49 89 231 41 41 00
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