Arcario publishes Interim Report for Q2 2023
Arcario's interim report for Q2 and first half of 2023 reveals the completion of a pivotal transformation for both Arcario and K33. Financially, the quarter unfolded as expected, highlighting improvements in EBITDA and underlying financial operations. Arcario, now more streamlined, is ardently committed to nurturing its portfolio companies and pursuing new investments. Even in a calmer market, all portfolio entities demonstrated commendable progress. Amplified by the increasing U.S. market's interest in Arcario and its subsidiaries, the company is actively working toward a stock listing in the U.S. The full Q2 2023 report is published at arcario.com/ir.
Second quarter of 2023
Compared to second quarter 2022
- Group revenue decreased to 30,991 kSEK (84,755)
- EBITDA amounted to -3,138 kSEK (-20,604)
- EBIT amounted to -7,510 kSEK (-55,740)
- The result for the period amounted to -5,204 kSEK (-56,272)
- Earnings per share before dilution amounted to SEK -0.001 (-0.007)
- Earnings per share after dilution amounted to SEK -0.001 (-0.006)
First half of 2023
Compared to first half of 2022
- Group revenue decreased to 69,598 kSEK (190,260)
- EBITDA amounted to -10,089 kSEK (-22,729)
- EBIT amounted to -18,882 kSEK (-64,576)
- The result for the period amounted to -30,392 kSEK (-66,451)
- Earnings per share before dilution amounted to SEK -0.003 (-0.008) and after dilution to -0.003 (-0.007)
Michael Jackson, Chair of Arcario comments:
Q2 was transformative, characterized by strategic growth and robust performance. With the restructuring behind us and considering K33’s current trajectory and the recovering market conditions, we anticipate significant revenue growth for the group in 2024. The evolved Arcario, now leaner in its operations, focuses on nurturing its portfolio companies and seeking out new valuable investment opportunities. The escalating interest from the U.S. market in Arcario and our portfolio companies is undeniable. Our decision to resume the OTCQB listing in the U.S. is designed to expand our global reach, enhance liquidity, and diversify our shareholder base by offering a regulated, approved investment product for a discerning US audience.
Torbjørn Bull Jenssen, CEO of Arcario and K33 comments:
Q2 has been a pivotal quarter for both Arcario and K33. After our strategic restructuring, both entities have witnessed significant operational growth. K33 maintains a laser-focused approach to digital assets wealth management and has secured its inaugural external investment from the Chicago-based tradetech company, Liquid Mercury. Examining the market, Q2's trading activity displayed a stagnation in the crypto market. This apparent tranquility conceals the significant institutional changes happening in the backdrop. Our faith in Arcario, K33, and its associated entities remains steadfast. The heightened interest from U.S. investors, combined with the institutional shifts we note, reinforces our positive outlook.
Main events during Q2 2023
- On April 17th, Arcario announced the global launch of the K33 Platform following successful beta testing.
- On April 19th, Kristian Kierkegaard stepped down from the Board.
- On April 21st, Arcario's LN Markets reported all-time high trading volumes, showcasing its exceptional Q1 2023 performance.
- On May 3rd, Arcario's Pure Digital formed a partnership with Nomura-backed ClearToken for central clearing house integration.
- On May 19th, Arcario released its Annual Report for 2022.
- On May 22nd, Arcario and COWA unveiled a strategic partnership, setting forth a new era of Web3 innovations and collaborative ventures.
- On June 8th, Arcario's K33 expanded its platform with the introduction of K33 Markets and began beta testing invitations.
- On June 9th, Arcario issued its Interim Report for Q1 2023.
- On June 9th, the Annual General Meeting took place.
- On June 16th, Arcario secured a share purchase agreement for shares in Finpeers SA.
After the end of the period
- On July 4th, Arcario completed the acquisition of shares in Finpeers.
- On July 5th, Arcario's LN Markets announced it has maintained its robust performance in Q2 2023.
- On July 5th, Arcario’s Finpeers celebrated significant Q2 milestones with the regulatory approval for its first-ever token.
- On July 6th, Arcario deepened its community ties by launching a Global Investor Community to promote dialogue.
- On July 28th, Arcario's K33 entered into an investment agreement with Liquid Mercury.
- On August 21st, Arcario announced its intention to resume its application for OTCQB listing in the United States.
Webcast presentation today at 08:00 CEST
Arcario invites all interested parties to a live webcast at 08:00 AM CEST on Infront Direkt Studio's YouTube channel, where Chairman, Michael Jackson, and CEO, Torbjørn Bull Jenssen, will delve into the report's details, provide insights on prevailing market trends, recent developments, and outline the future strategy.
The webcast, conducted in English, requires no pre-registration.
Link to webcast: https://www.youtube.com/watch?v=pTxlY-hSrMs.
For further details or queries, please contact Arcario AB's IR team at [email protected] or visit arcario.com/ir.
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About Arcario
Arcario is a Scandinavian trailblazer in 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, Pure Digital, a digital currency interbank OTC market and Finpeers, a startup democratizing access to private financial markets through tokenization. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.
