Arcario publishes interim report for Q1 2024
Arcario’s interim report for Q1 2024 shows significantly improved Net sales and EBITDA compared to both Q4 2023 and Q1 2023. Net sales grew to SEK 148M, an improvement of over 260% compared to Q4 2023. The group achieved a net profit and positive cash flow for the quarter with an EBITDA of SEK 4,189K. Improved Net sales is mainly an effect of organic growth in K33 Markets. Improved EBITDA is mainly driven by Vanir Finance AS being fully included in consolidated group accounts from Q1 2024.The full Q1 2024 report is published on arcario.com/ir.
First quarter of 2024
-compared to first quarter 2023-
• Group revenue increased to 148,892 kSEK (38,551)
• EBITDA amounted to 4,189 kSEK (-6,951)
• EBIT amounted to 2,007 kSEK (-11,372)
• The result for the period amounted to 5,538 kSEK (-25,188)
• Earnings per share before dilution amounted to SEK 0.001 (-0.003)
• Earnings per share after dilution amounted to SEK 0.001 (-0.003)
Torbjørn Bull Jenssen, CEO of Arcario & K33, Comments:
“With K33 leading the charge, a profitable quarter behind us, and a new bull market brewing, I firmly believe that we are ready for a solid turnaround. The future looks bright and we expect plenty of great news that we will share with you in the upcoming quarters.”
Main events during Q1 2024
· On January 16, Arcario announced the completion of the Vanir Finance AS acquisition.
· On February 8, K33 expanded its crypto trading offering by adding support for 7 new tokens.
· On March 14, Arcario announced the sale of an 11% stake in ITOAM SAS raising USD 1.9M.
After the end of the period
· On April 17, K33 reduced its cost of trading crypto in major fiat currencies by more than 60% to outperform global exchanges like Coinbase and Kraken
· On May 23, Arcario announced the postponement of the AGM to 28 June.
· On May 30, Arcario disclosed material differences for 2023 Q4 numbers between the interim report and the annual report.
About Arcario
Arcario is an industrial investment company within the digital asset space, committed to shaping the future of finance as we know it. The company boasts a diversified portfolio that includes K33, a research-led digital assets brokerage, Green Data, an eco-friendly Bitcoin mining operation, and minority stakes in LN Markets, a Bitcoin exchange leveraging the Lightning Network and Finpeers, a startup democratising access to private financial markets through tokenization. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.