Corporate News

Herford, 25 September 2024 – Bitcoin Group SE (ISIN DE000A1TNV91) published its Half-Year Report 2024 today. The first half of 2024 in crypto trading was characterized by the positive development of cryptocurrencies in the first quarter, followed by a volatile development in the second quarter due to various market-related uncertainties.

 Bitcoin Group SE generated operating revenue of EUR 4.20 million in the first half of 2024 after EUR 5.62 million in the same period of the previous year. The decline was due in particular to the discontinuation of express trading. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR 0.57 million after EUR -0.56 million in the first half of 2023. The bottom line was earnings per share of EUR 0.11, compared to EUR 0.38 in the previous year.

 The balance sheet situation remains rock solid with an equity ratio of 73.6% as at 30 June 2024 (31 December 2023: EUR 74.7%) and cash and cash equivalents of EUR 9.8 million after EUR 11.1 million as at 31 December 2023. Due to the positive price performance of the most important cryptocurrencies in the first half of 2024, net crypto holdings increased to EUR 245.6 million after EUR 164.8 million at the end of the 2023 financial year.

 "We can look back on stable development in the first half of 2024. We were able to increase our user base from around 1,055,000 to registered 1,063,000 users, which makes us optimistic about the future. All the more so as the acceptance of cryptocurrencies and thus their trading has continued to increase. In particular, the approval of ETFs on Bitcoin and Ethereum by the US Securities and Exchange Commission this year is contributing to increased demand for crypto assets and also to a broadening of the potential customer base. Given that the global market value of all cryptocurrencies currently corresponds to just 1.8% of the global market value of all equities and 1.7% of the global bond volume, there is still plenty of room for growth for our industry and for us as the Bitcoin Group," says Marco Bodewein, CEO of Bitcoin Group SE.

 The Management Board of Bitcoin Group SE assumes that the price of cryptocurrencies and media interest will continue to shape the 2024 financial year. Due to the high volatility in the crypto sector and in the context of macroeconomic and geopolitical uncertainties, it is very difficult to make a valid forecast for the year as a whole. However, the Management Board expects revenue to remain stable and EBITDA to be slightly positive for 2024 as a whole.

 The Half-Year Report 2024 is available for download in the Publications section of bitcoingroup.com. The English report will be available by the beginning of October 2024.

Herford, 2 September 2024 - Bitcoin Group SE (ISIN DE000A1TNV91) successfully held its Annual General Meeting 2024 last Friday. The shareholders approved all proposed resolutions on the agenda with large majorities. A total of 36,29% of the share capital was present at the Annual General Meeting, which was held in presence.

In their speech, the Management Board looked back on a challenging financial year characterised by low trading activity due to external influences such as high inflation, rising interest rates and geopolitical tensions. Despite all the challenges, the Management Board once again presented a rock-solid balance sheet to the shareholders in attendance. Bitcoin Group SE's equity increased by 88% to EUR 137.9 million as at 31 December. The value of net crypto assets jumped by almost 133% to EUR 164.8 million in the 2023 financial year due to the price increase on the crypto market. The stable financial position allows a dividend of EUR 0.10 per share to be distributed to shareholders, as in the previous year.

"In 2023 and in the current year, important regulatory decisions were made. Not least the authorisation of crypto spot ETFs by the US Securities and Exchange Commission (SEC) gave the crypto market a further boost. Overall, this has significantly increased the acceptance of cryptocurrencies as an asset class. We will benefit from this with our reputable range of services," said Marco Bodewein, CEO of Bitcoin Group SE.

The voting results are available on the Bitcoin Group SE website at bitcoingroup.com in the Annual General Meeting section.

Herford, 11 July 2024 – Bitcoin Group SE (ISIN DE000A1TNV91) published its Annual Report 2023 today. The 2023 financial year was characterised by low trading activity due to challenging external conditions for the financial markets, such as high inflation, rising interest rates and geopolitical tensions. 

 Bitcoin Group SE generated revenue of EUR 7.8 million in the financial year 2023 after EUR 8.3 million in the previous year. The decline is primarily due to low trading activity on the Bitcoin.de cryptocurrency trading platform operated by the wholly-owned subsidiary futurum bank AG, particularly in the first three quarters. Trading activity on Bitcoin.de did not pick up until the significant recovery of Bitcoin as the most important benchmark for cryptocurrencies in the fourth quarter of 2023.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR -1.8 million in the financial year 2023 compared to EUR 1.4 million in the previous year. In addition to the overall low level of trading activity, this development is attributable to higher personnel costs due to inflation and, above all, the one-off costs in connection with the acquisition of Bankhaus von der Heydt, which was cancelled in May 2023. The bottom line was a net profit of EUR 1.9 million after EUR -2.4 million in the previous year. The significant year-on-year improvement is primarily due to reversals of impairment losses. Accordingly, earnings per share totalled EUR 0.39 after EUR -0.48 per share in the previous year, with the number of shares remaining unchanged.

The Bitcoin Group continues to have a rock-solid balance sheet. Equity increased year-on-year from EUR 73.3 million to EUR 137.9 million in the reporting period due to the increase in retained earnings and the higher valuations of the cryptocurrencies held in treasury. Net crypto holdings increased to EUR 164.8 million as at the 2023 reporting date due to the price increase on the crypto market, compared to EUR 70.8 million as at 31 December 2022. The equity ratio was 74.7% as of 31 December 2023 (31 December 2022: 77.2%). Cash and cash equivalents totalled EUR 11.1 million after EUR 14.9 million as of the 2022 balance sheet date.

"Our stable financial position allows us to once again distribute a dividend of EUR 0.10 per share, as in the two previous years. We will submit a corresponding dividend proposal to the Annual General Meeting on 30 August 2024," says Marco Bodewein, CEO of Bitcoin Group SE.

At a strategic level, the focus in the financial year was on the further technical development of the Bitcoin.de marketplace to continue to offer the user base, which grew from around 1,040,000 to around 1,055,000 in the reporting period, a simple and reliable way to trade cryptocurrencies. In addition, important regulatory decisions were made: In the USA, crypto spot ETFs have now been authorised by the US Securities and Exchange Commission (SEC), while in the European Union, legal clarity has largely been created in the handling of digital assets.

 "The course set at regulatory level will further increase the acceptance of cryptocurrencies as an asset class. I am firmly convinced that we will continue to score points with institutional and private clients with our regulated and reputable range of services," continues Bodewein.

Following the formative regulatory progress and growing institutional participation in the 2023 financial year, the crypto industry is fundamentally poised for further growth. However, interest in cryptocurrencies and thus in trading fluctuates greatly depending on a variety of external influences, which makes it difficult to forecast with any accuracy for the 2024 financial year. Market development remains unusually challenging, particularly due to the geopolitical environment and the dynamics of regulation. Against this backdrop, the Management Board of Bitcoin Group AG therefore expects revenue to remain stable for 2024 as a whole and also anticipates a slightly positive EBITDA.

The Annual Report 2023 is available for download as a PDF document in the Publications section of bitcoingroup.com. The English Report will be available by the end of July 2024.