The niiio finance Group AG, a Software-as-a-Service platform for asset and wealth management, has recently announced a revision to its financial forecasts for the fiscal year 2024. The company now anticipates the EBITDA for 2024 to be between -1.4 and -1.1 million EUR, deviating from its initial guidance of 0.7 to 1 million EUR. This adjustment is a result of the reclassification of one-off expenses, primarily stemming from the partial repayment of the convertible loan note and the expected contribution of fundsaccess AG, FundHero S.A. and FinTecc LLC.
The reclassification of these expenses was a consequence of the audit of the 2023 financial statements. It is worth noting that this reclassification will have minimal impact on the 2023 financial year, decreasing the projected EBITDA from 0.6 to 0.8 million EUR to approximately 0.45 million EUR. The extraordinary general meeting on 22nd May 2024 resolved to incorporate fundsaccess AG, FundHero S.A. and FinTecc LLC into the group controlled by the company. Based on the assumed reflection of these contributions in the commercial register in August 2024 and the current financial performance projections, niiio finance Group AG expects revenues in the range of 18 to 20 million EUR and an EBITDA between -0.1 and +1.9 million EUR. This marks a significant change from the previous expectation of 2 to 4 million EUR.
In light of this update, shareholders and investors are encouraged to stay informed of the company’s financial developments. The company remains dedicated to maintaining open communication with its stakeholders and will continue to provide updates as necessary.
For any inquiries or further information, interested parties may contact niiio finance Group AG through the following contact details:
Phone: +49(0)611 – 205855-64
Fax: +49(0)611 – 205855-66
E-mail: [email protected]
Website: www.niiio.finance
As the company continues to navigate these financial adjustments, it is imperative for shareholders and investors to stay abreast of the latest developments to make well-informed decisions regarding their investments. It is also advisable to consult with financial experts or advisors, who can provide additional insights into the implications of these changes within the company.
In conclusion, the adjustment of the EBITDA expectations for 2024 by niiio finance Group AG underscores the dynamic nature of financial projections and the importance of adaptability in response to evolving circumstances. As the company moves forward, it remains dedicated to upholding its standards of financial transparency and accountability.