Bitcoin Group SE publishes preliminary results 2021 - significant growth in revenue and earnings
Herford, March 29, 2022 – Bitcoin Group SE (ISIN DE000A1TNV91) publishes preliminary results for the financial year 2021. The company achieved revenue of EUR 23.5 million in 2021 compared to EUR 15.0 million in 2020, which corresponds to an increase of 56.6%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 85.7% to EUR 19.5 million compared to EUR 10.5 million in the previous year.
The dynamic increase in revenue and earnings is due in particular to the high level of user trading activity on Bitcoin.de, the cryptocurrency trading platform operated by the subsidiary futurum bank AG. In the financial year 2021, the currencies that can be traded on Bitcoin.de, such as Bitcoin, Ethereum, Ripple and others, were in increased demand. In addition, the company managed to exceed the mark of more than 1,000,000 registered users ahead of schedule in the middle of 2021.
The balance sheet total has more than doubled to EUR 223.4 million as of the 2021 balance sheet date due to the significant increase in cryptocurrency holdings (2020 balance sheet date: EUR 108.8 million). Cash and cash equivalents have increased significantly to EUR 20.3 million as of the balance sheet date 2021 (2020 balance sheet date: EUR 12.0 million). The equity ratio as of the 2021 balance sheet date is 72.5% (previous year: 73%), hence the Group shows a robust balance sheet and sufficient flexibility to finance further growth.
"Despite all the challenges, we closed the financial year 2021 with great success. We succeeded in achieving our set goals and broadening our business model. Customers can now trade eight major cryptocurrencies on Bitcoin.de. In addition, we have been offering trading of pure cryptocurrency pairs since the end of last year. On this basis, we want to grow sustainably and strongly and are optimistic about the 2022 financial year," says Marco Bodewein, CEO of Bitcoin Group SE.
The figures disclosed in this announcement are preliminary and unaudited. Bitcoin Group SE will publish the final figures for the financial year 2021 with the Annual Report 2021 in April 2022.