Mountain Alliance AG publishes half-year report 2022 ??Net asset value per share at - 6.97 - two successful exits
The first half of 2022 was primarily characterized by the tense economic and geopolitical environment. This has weighed on sentiment in the investment industry and public capital markets. The economic slowdown and rising cost of living are weighing on consumer sentiment, which was also partly noticeable in individual e-commerce-focused investments. Nevertheless, Mountain Alliance AG was able to significantly increase turnover year-on-year in the first half of 2022 and, contrary to the cautious industry sentiment, realize two successful exits.
Mountain Alliance AG generated a consolidated turnover of ? 5.68 million in the first half of 2022, compared to ? 4.23 million in the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved from minus ? 1.22 million to minus ? 0.30 million. Earnings before interest and taxes (EBIT) were also better at minus ? 0.58 million after minus ? 1.49 million in the previous year.
However, the burden on the capital markets had an impact on the financial result. It amounted to minus ? 1.75 million in the first half of 2022, compared to ? 7.42 million in the same period of the previous year, due in particular to the decline in the share prices of the listed investments Bio-Gate, Exasol and Asknet Solutions. Accordingly, earnings before taxes (EBT) totalled minus ? 2.32 million after ? 5.92 million in the same period of the previous year. The bottom line for the reporting period was a consolidated result of minus ? 2.32 million compared to ? 4.96 million in the first half of 2021. Earnings per Mountain Alliance share in the first half of 2022 were minus ? 0.34 compared to ? 0.75 in the same period of the previous year.
The portfolio of the four segments Technology, Digital Retail, Digital Business Services and Meta-Platforms & Media had a value of ? 49.9 million as of 30 June 2022, compared to ? 52.5 million as of 31 December 2021. Taking into account net financial liabilities of ??1.9?million (31 December 2021: ? 2.0 million), the net asset value (NAV) of Mountain Alliance AG amounted to ? 48.0 million after ? 50.5 million by the end of 2021. Based on 6.886 million outstanding shares, the NAV per share as of 30 June 2022 was ? 6.97, compared to ? 7.34 as of 31 December 2021. The declining NAV development reflects in particular the negative share price development of the investments Bio-Gate, Exasol and Asknet Solutions mentioned above.Net asset value calculation of the MA Group as of 30 June 2022
NAV segment in ? million Technology 29.7 Digital Retail 8.4 Digital Business Services 7.5 Meta-Platforms & Media 4.4 Portfolio value 49.9 Net financial liabilities 1.9 Net Asset Value (NAV) 48.0 NAV per share (in EUR) 6.97
Notwithstanding the negative influence of the listed investments, the fundamental development of the core portfolio can be described as solid. Furthermore, the successful exits from Tillhub and the remaining investment in mybestbrands reflect the success of Mountain Alliance AG's strategy against the backdrop of the current capital market sentiment. This shows that Mountain Alliance is very well positioned with its portfolio strategy to benefit from technological change and the need for digitalization in business and society.
For the full year 2022, the Management Board is optimistic about the future and continues to expect an increase in consolidated turnover of 5% to 10%. In terms of net asset value, the Management assumes an organic increase of 5% for 2022 (based on the expected growth of the portfolio companies, increasing investor interest and value-enhancing acquisitions, subject to the future performance of the listed investments).
The forecast is subject to uncertainties against the background of possible economic effects due to further COVID-19 restrictions as well as possible distortions on the capital market and the global economy as a consequence of the Ukraine crisis. Further imponderables also arise from the ECB's future interest rate policy and its effects on the capital markets.
"Despite the challenging external environment, the first half of 2022 was satisfactory for our portfolio companies. Even though we were not able to escape the downward trend in stock market prices as of the reporting date, currently falling valuations for selected technology companies offer good entry opportunities and lucrative value enhancement potential. We intend to make greater use of these opportunities to expand our technology portfolio. The technological change and the enormous need for digitalization give us confidence about the development and future of our Company," says Manfred Danner, Management Board Member of Mountain Alliance AG.
The half-year report 2022 is available for download at www.mountain-alliance.de.About Mountain Alliance AG: Mountain Alliance AG (ISIN: DE000A12UK08) is an operative investment company whose shares are listed in the SME segment m:access of the Munich Stock Exchange and in the Basic Board of the Frankfurt Stock Exchange. As a lean, transparent and experienced investor, the company is dedicated to the industry of the future, in which it has many years of know-how and an excellent network: the digital business. Mountain Alliance AG currently holds portfolio companies in four segments: Technology, Digital Retail, Digital Business Services and Meta-Platforms & Media. Through its listing Mountain Alliance enables its shareholders a simple access to a diversified portfolio of digital and technology based assets.Contact: Mountain Alliance AG Manfred Danner Board of Directors Theresienstr. 40 80333 Munich phone: +49 89 2314141 00 fax: +49 89 2314141 11 e-mail: firstname.lastname@example.org CROSS ALLIANCE communication GmbH Susan Hoffmeister Investor Relations Bahnhofstr. 98 82166 Gr?felfing/Munich phone: +49 89 1250903-30 e-mail: email@example.com
14.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.dgap.deLanguage: English Company: Mountain Alliance AG Theresienstra?e 40 80333 M?nchen
Germany Phone: +49 89 231 41 41 00 Fax: +49 89 231 41 41 11 E-mail: firstname.lastname@example.org Internet: www.mountain-alliance.de ISIN: DE000A12UK08 WKN: A12UK0 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Munich (m:access), Stuttgart, Tradegate Exchange EQS News ID: 1441855 ? End of News DGAP News Service