Exxe Group Announces Revenue and Earnings for the Quarter Ending June 30, 2022

  • Exxe Reports Quarterly Revenue of $11.7M and Profit of $3.3M

  • 1Q2023 revenues increased by 6.5% to $11.7M from $11.0M in 1Q2022

  • 1Q2023 net income increased 77.5% to $3.3M from $1.8M in 1Q2022

NEW YORK, NY/ACCESSWIRE/August 18, 2022/ Exxe Group, Inc. (OTC PINK:AXXA), (“Exxe” or the “Company”) reports its financial results for the quarter ending June 30, 2022.

Exxe Group key measures

1Q2023 ($)

1Q2022 ($)

Percent change (%)

Total current assets

23,302,792

20,488,291

13.7

Total assets

257 617 303

233 780 831

10.2

Equity

176 751 228

150 432 624

17.5

Quarterly turnover

11,734,232

11,022,713

6.5

Quarterly net profit/loss

3,252,375

1,831,875

77.5

Performance Overview

AXXA’s quarterly revenue increased 6.5% in 1Q2023 to $11,734,232 from $11,022,713 in the same period last year.

Net profit for 1Q2023 was $3,252,375 compared to net profit of $1,831,875 in the same period last year, an increase of 77.5%.

Total assets were $257,617,303 in 1Q2023, compared to $233,780,831 in the same period last year, an increase of $23,836,472 or 10.2%.

Quarterly Highlights

Since the start of calendar year 2022, the Exxe Group has managed to favorably restructure more than $20 million of debt with minimal impact on shareholders. This includes $10 million in debt that was restructured in May 2022.

Exxe Group’s agribusiness unit had a strong quarter for commodity prices for cereal crops such as corn and wheat. Price spikes in grain commodity markets during the quarter enabled Exxe to secure favorable contracts.

Exxe Group recorded an increase in automotive demand. M-Moto reported quarterly revenue of $3,399,401 compared to $1,342,895 in 1Q2022, an increase of $2,056,506 or 153%. The change is mainly due to the easing of travel restrictions in Germany and Europe. Greater automobile use is directly fueling more luxury engine overhaul and repair business for M-Moto.

MMeditech GmbH, which sells heavy-duty consumables in the Swiss medical supplies market, reported quarterly revenue of $1,756,727, compared to $998,454 in 1Q2022, an increase of $758,273 or 76%.

Dr. Eduard Nazmiev, CEO of Exxe Group, said: “Exxe Group thanks its shareholders for their support. We are pleased to report assets of $257.7 million, revenues of $11.7 million, the successful restructuring of $10 million in debt and quarterly profit of over $3 million.”

Audit

Exxe management held several meetings during the quarter to refine its audit strategy. Meetings included corporate counsel, auditors, banking group and investment companies. Exxe continues to focus on auditing a single asset in its portfolio for a divestiture or spin-off opportunity, thereby monetizing the underlying asset(s).

Subsequent events

Seven Horns Media secured the rights to sell a new film in July. Seven Horns is currently working on direct marketing and pre-sales in the United States for this film, as well as courting potential buyers in Asia. Seven Horns falls under the Diverse Media Events and Marketplaces business unit.

MarketMediaConnect (MMC), which specializes in digital marketing, advertising, design and search engine optimization (SEO), has been awarded a six-month SEO contract to market Crypto Exchange services, including bitcoin exchange. The contract covers two countries: one in Asia, the other in Europe, and runs until the end of 2022. The contract has potential for follow-up subject to performance, as well as potential for increased reach. The parties must discuss the terms of the contract extension between November and December 2022.

Exxe Group continues to make progress with its Metaverse initiative. The company is working on developing NFTs of luxury products and design spaces that can be integrated into the metaverse and the physical world. The Company has held meetings with a potential Metaverse Real Estate partner for joint venture or other partnership opportunities.

About the Exxe Group

Exxe Group is a diversified fintech company focused on acquisitions in the following sectors: private equity, real estate, sustainable technology and financial services. Exxe Group is an acquisition-driven company. The Company’s strategy is to acquire majority stakes in undervalued companies and play an active role in improving their performance – accelerating their growth by providing them with both access to capital and management expertise. .

For more information, please visit the company’s website

Website: http://www.exxegroup.com/
Twitter: https://twitter.com/exxegroup

Forward-looking statements:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “in progress”, “plan”, “potential”, “predict”, “project”, “should”, “will”, “would”, or the negative form of these terms or other comparable terms , although not all forward-looking statements contain these words. Forward-looking statements are not guarantees of future performance or results and will not necessarily be precise indications of the times at which or by which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed. or implied by the forward-looking statements contained in this press release.

Exxe Group, Thursday August 18, 2022, Image from press release

CONTACT:

IR of the Exxe group:
[email protected]

THE SOURCE: Exxe Group, Inc.

See the source version on accesswire.com:
https://www.accesswire.com/712620/Exxe-Group-Reports-Revenues-and-Profits-for-the-Quarter-Ending-June-30-2022

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