-Strong Quarterly Revenue Growth Again Demonstrates Business Model Success
-Sequential EBIT Growth Ahead of Expectations: MMOTO, DHE parts, MMeditec
-Complete Exxe Group's Quarterly Results to be Published in February 2022
-Exxe's Metaverse Strategy Moving to Exciting Multi-Level Implementation Phase
NEW YORK, NY / ACCESSWIRE / January 26, 2022 / Exxe Group, Inc. (OTC PINK:AXXA), ('Exxe' or the 'Company') a diversified fintech company, is pleased to announce that following a review of key assets and business lines, three firms in particular recorded a 20%+ jump in the December period as compared to the prior quarter just ninety days earlier. While revenue reached $5.1 million, EBIT generated by these firms also grew by 27% sequentially to $2.5 million.
In late November, we provided guidance of an estimated $49 million - $53 million in revenue along with 15-20% net margins for the fiscal year ending in March 2022. This estimate assumed $14 million and $15 million in revenue for the December and March quarters, respectively. Given recent sequential sales growth trends, our earlier revenue estimates could be too low, pending the complete consolidation of the financials for all of its assets including its agro-businesses, daskonzept group, and others. Complete December quarterly financial results for Exxe Group will be published in February 2022.
For the period ended December 2021, automotive line M MOTO recorded approximately $2.7 million in revenue, a 28% jump from the $2.1 million generated in the September 2021 quarter. In addition, EBIT rose by 15% to $1.5 million, as compared with $1.3 million. Product demand and higher customer prices led to the rise. DHE group, an auto parts supplier also enjoyed major growth in the period. Sales jumped to $905,000, up 40% from the $645,000 recorded in the September quarter. EBIT rose by 14% to $130,000, as compared with $103,000, sequentially.
M Meditec enjoyed a modest top-line increase from $1.4 million to $1.5 million. However, EBIT jumped by 56% to roughly $917,000 versus $583,000 in the September 2021 period. The sales mix, higher pricing, and greater efficiency were drivers on the operating side of M Meditec's business.
2022: Year of Metaverse for Exxe
The Exxe Group management team is committed to building a large presence in the Metaverse and monetizing this presence via the leverage of its key assets. This integrated vertical and horizontal approach includes Exxe's expertise in online design(daskonzept group ag), digital marketing(Market Media Connect), crypto payments(1Myle, Ltd), property acquisition/management(Myle-One Beteiligung, AG), and event promotion and production, such as fashion, music, and film festivals(Seven Horn). Exxe is entering a key phase for its Metaverse Initiative which will culminate in the launch of multiple and multi-level services. To that end, we are building out our calendar of upcoming online events which will initially be available for VIP participation. Exxe is unique in that it is currently a revenue generator via key service offerings in the physical world and appears well-positioned to generate revenue from similar services in the virtual market when the Metaverse enters its early adoption phase.
Dr. Eduard Nazmiev, Exxe Group Chairman, commented on the financial performance and the Metaverse Initiative. 'We are very pleased with the impressive performance of some of our high profile business lines. Strong revenue and better-than-expected EBIT growth occurred on a sequential basis which demonstrates the high rate of execution of our diversified, integrated model. As with the previous quarter, we believe Exxe Group is on the path to consistently record major growth across our firm, not just these highlighted units. Our detailed quarterly financial results will be published in February and we look forward to sharing these figures with our investors. Separately, we continue to spend considerable effort on our Metaverse Initiative. We believe this marketplace will be a critical source of revenue and profit for the Company. Exxe is one of the few firms that can leverage multi-level services to propagate our brand and our businesses. We look forward to a series of announcements and events regarding our execution in this online world and combining it with our real-world businesses in 2022 and beyond.'
About Exxe Group
Exxe Group is a diversified fintech corporation focusing on acquisitions in the following sectors: real estate, sustainable technology, media, agribusiness, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise.
For additional information please visit the Company's
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,' 'ongoing,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'will,' 'would,' or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, 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 in this press release.
CONTACT: Exxe Group IR: firstname.lastname@example.org
SOURCE: Exxe Group, Inc.
View source version on accesswire.com: