Corporate News

Bitcoin Group SE publishes half-year report 2019 – strong development and implementation of key projects

  • EBIT amounts to TEUR 4,228 (previous year: TEUR 4,874)
  • Number of users on trading platform increases to 808,000
  • Implementation of key projects for broadening the business model
  • Forecast for 2019 financial year confirmed

Herford, September 30, 2019 - Bitcoin Group SE (ISIN DE000A1TNV91) today published its figures for the first half-year 2019. Turnover amounted to TEUR 2,455 in the reporting period, compared to TEUR 8,348 in the first half of 2018. Within the framework of a Bitcoin market that was quoted sideways, especially at the start of 2019 - and therefore accompanied by a decline in press attention - the corresponding trading revenues stagnated. During the reporting period, however, there were clear signs of recovery on the crypto currency markets, which led to stronger prices and, as a result, strong upward movements. The Bitcoin share price rose from EUR 3,257.05 at the end of December 2018 to EUR 9,992.17 at the end of the first half of 2019. Bitcoin Group SE generated earnings before interest and taxes (EBIT) of TEUR 4,228 in the first half of 2019 after TEUR 4,874 in the same period of the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to TEUR 1,231 compared to TEUR 7,563 in the first half of 2018. Bitcoin Group SE implemented the recommendation of the IFRS Interpretations Committee with the publication of the Annual Report 2018, according to which crypto currency holdings must be shown under fixed assets instead of current assets and changes in value, therefore, also affect the income statement through write-ups and write-downs.

The dynamic increase of the Bitcoin share price resulted in a further growth of customer numbers on Bitcoin.de. At the end of the first half of 2018, 753,000 customers were still using the extensive services of Bitcoin.de. By the end of June 2019, 808,000 customers were using the site. The high response from customers is also based on the continuous expansion of usability and the range of services offered on the trading platform. Bitcoin Group SE launched the Bitcoin.de app after the reporting period in mid-August. Customers now have the option of using all the functionalities of the browser solution on their smartphones. Regardless of whether it's price enquiries, sales history or trades - with the Bitcoin.de app, users always have a clear overview of their crypto currency investments. The launch of the Bitcoin.de app is one of the key projects of Bitcoin Group SE in 2019 to continue to diversify the business model and accelerate its growth. The Group is impressively demonstrating its high level of competence and speed in implementation.

This also includes the aim of developing Bitcoin.de into a crypto currency marketplace with a multilateral approach. The Bitcoin Group SE has already translated its words into actions in this area by the end of 2018. For example, futurum bank GmbH (formerly Tremmel Wertpapierhandelsbank GmbH) was acquired. The transaction was approved by the German Federal Financial Supervisory Authority (BaFin) in July 2019. This means that, from now on, it will be possible to issue own products in connection with crypto currencies, carry out proprietary trading with crypto currencies and operate ATMs for crypto currencies.

"We are satisfied with the business development in the first half of 2019. It is totally in line with our expectations. The sustained recovery on the crypto currency markets proves once again that Bitcoin and Co. have come to stay, and acceptance is growing continuously. Combined with the measures we have taken to diversify our business model; we will be able to accelerate corporate growth. So, we look positively at the upcoming tasks and the remaining business year 2019," says the Managing Director of Bitcoin Group SE, Marco Bodewein.

Given the further expansion of the service portfolio and the continuing rise in demand for crypto currencies, the management remains optimistic for the 2019 financial year and confirms its forecast. Concretely, the management expects a turnover result that will build on the success of the second half of 2018. Furthermore, a positive EBITDA is expected. Due to the reluctance of market participants to invest in crypto currencies at the beginning of 2019, together with declining media interest, the management of Bitcoin Group SE expects a slowdown in new customer acquisition and up to 850,000 registered users on Bitcoin.de in the 2019 financial year.

The English version of the Half-Year Report 2019 will be available in about two weeks time, the German version can be downloaded as a PDF document from www.bitcoingroup.com in the Investor Relations section.


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