DGAP-News: The Social Chain AG
/ Key word(s): Quarterly / Interim Statement
Q1 2022 The Social Chain AG: 105% increase in revenue through acquisition of DS Group, EBITDA 23.9 million Euro (before adjustments)
Berlin, 25 May 2022. Social Chain AG has published its quarterly report for the period January to March 2022. ?We are pleased to have increased our revenue by 105% compared to the previous year, with a clear double-digit positive EBITDA of 23.9 million Euro,? reports Andreas Schneider, the designated new CFO of Social Chain AG. ?The strong increase in revenue is of course also due to the acquisition of DS Group,? says Andreas Schneider. ?In addition, we are recording a significant increase in revenue of almost 100% in the agency segment compared to the first quarter of 2021.? Challenging world situation affects consumer behavior ?It is clear that we are currently operating in a challenging market environment. In the wake of the war in Ukraine and the Corona pandemic, many people are restricting their consumer spending on fast moving consumer goods. Therefore, we have to accept a slight decline in revenues in e-commerce and retail compared to the previous year,? says Andreas Schneider. The reluctance to buy in e-commerce (non-food) was much less noticeable at Social Chain AG than at many of its market competitors. Synergy potential and restructuring costs through merger with DS Group After the merger with DS Group, the post-merger integration is one of the most important tasks. ?The restructuring has resulted in integration costs for Social Chain AG, which impacted the quarterly result as a one-off effect,? Andreas Schneider explains. ?We are pushing ahead with the integration at full speed and will only be able to realize the synergy potential gradually in the coming quarters. The potential is already being utilized in the Brand Chain divisions and in the core brands such as LANDMANN and Glow,? adds Wanja S. Oberhof, CEO of Social Chain AG. Disposal of stake in KoRo Handels GmbH has clearly positive effect on quarterly EBITDA The adjusted EBITDA of Social Chain AG generated in the first quarter of 2022 was clearly positive in the double-digit range at 23.9 million Euros, in particular due to the sale of shares in KoRo Handels GmbH. As already communicated by the company in mid-March, several internationally renowned institutional financial investors as well as other angel investors invested a significant double-digit million amount in KoRo. ?The shareholding of Social Chain AG has been reduced by the transaction, so that Social Chain AG no longer exercises a controlling influence on the company,? reports Wanja S. Oberhof and continues: ?The strategic partnership between Social Chain AG and food tech investors creates numerous further opportunities for the Social Commerce brands of our group.? Oberhof thanks the finance team for the quarterly reporting: ?The current figures show the entrepreneurial dynamics of the entire Social Chain AG. We are on a very good course towards solid profitability,? says Wanja S. Oberhof. Press Contact:
Sanja Stankovic press@socialchain.com
The Social Chain AG About The Social Chain AG: Social Commerce at a Global Scale The content of this press release is for information purposes only and does not constitute investment advice or other recommendations pursuant to the German Securities Trading Act by The Social Chain AG or its affiliated companies. The information provided cannot replace investment advice. The information contained in this press release is not to be construed as an assurance of possible price developments and should not be construed as a request to enter into a transaction. The information contained herein does not constitute an offer to sell or the solicitation of an offer to sell securities or rights, or a solicitation to trade in securities or rights. Accordingly, The Social Chain AG and its affiliates make no representations or commitments as to the accuracy, completeness or correctness of the information or opinions contained herein. We assume no liability for direct or indirect damages caused by and/or in connection with the distribution and/or use of this document. The statements correspond to the status at the time of the preparation of this document. They may become obsolete due to future developments without the document being changed.
25.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | The Social Chain AG |
Gormannstraße 22 | |
10119 Berlin | |
Germany | |
Phone: | +49 (0)30 208484010 |
E-mail: | contact@socialchain.com |
Internet: | www.socialchain.com |
ISIN: | DE000A1YC996 |
WKN: | A1YC99 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1361323 |
End of News | DGAP News Service |
1361323 25.05.2022