Bitcoin Group SE publishes Annual Report 2019 – Earnings per share rises significantly to EUR 0.43
- EBIT amounts to EUR 3,236 thousand (previous year: EUR 2,432thousand)
- More than 840,000 customers already use the services on Bitcoin.de
- Management expects positive result for fiscal 2020
Herford, June 30, 2020 – Bitcoin Group SE (ISIN DE000A1TNV91) today presented figures for the 2019 financial year. Sales in the year under review amounted to EUR 6,298 thousand compared to EUR 11,333 thousand in the previous year. The reason for the decline is a higher starting point, especially at the beginning of 2018. At the same time, Bitcoin Group recorded a significant increase in earnings before interest and taxes (EBIT) from EUR 2,432 thousand in the previous year to EUR 3,236thousandin 2019. Consequently, earnings per share rose significantly to EUR 0.43 in 2019 compared to EUR 0.31 in the previous year. This corresponds to a growth of 38.7 percent.
The increasing demand for crypto currencies had a positive effect in a generally challenging environment. As an example, the Bitcoin price rose from EUR 3,257.05to EUR 6,516.03 in the reporting year. In mid-July 2019, the share price reached its annual high of EUR 11,210.93, thus continuing the development of the record year 2017. Bitcoin Group SE is making progress with similar dynamics in the acquisition of new customers. For example, the number of customers on Bitcoin.de, the crypto-currency trading platform operated by the wholly owned subsidiary Bitcoin Deutschland AG, rose to 840,000 in the course of the year 2019. At the end of 2018, the number of customers was 779,000.
The positive development underlines clearly that in challenging times investors appreciate the numerous advantages of crypto currencies and a secure trading place like Bitcoin.de. Therefore,the company is continuously working to expand and improve its own services. Among other things, this includes the launch of the Bitcoin.de App. With the notice of intent to apply for permission to conduct crypto-custody business towards the end of 2019, the company intends to expand its business with institutional customers. This possibility will open up additional revenue potential.
"We are satisfied with the development in fiscal year 2019. We have continued to succeed in convincing customers of our services and retaining them. By continuously improving our services, we have laid the foundation for continuing to benefit from the numerous opportunities in the cryptocurrency market. Nevertheless, in the environment of thelimiting corona pandemic measures, all decisions must be carefully weighed up and brought into harmony with the health protection of our employees. This has been our top priority," says Marco Bodewein, Managing Director of Bitcoin Group SE.
The developments in the context of the corona pandemic and the associated containment measures by the health authorities make it difficult to make a valid forecast. The aim of all measures is not only the continued positive development of the company but also the maximum health protection of all employees. Management expects a positive result for the 2020 financial year.
The English version of the Annual Report 2019 will be available at the end of July, the German version can be downloaded as a PDF document from bitcoingroup.com in the Publications section.