Preliminary audit of financial statements

Contains inside information
Company announcement No. 03 2023

Adjusted EBIT for 2022 as a consequence of higher cost in connection with delayed bike deliveries.

Preliminary EBIT: The preliminary EBIT for 2022 amounts to EUR -5.4M, which is below the guidance of EUR -4.0M to -4.5M (company announcement no. 12-2022). The reason behind the deviation is that cost related to the delivery of the new bikes, especially in regards to the delay thereof, booked in the P&L is higher than expected. This includes not only higher shipping cost, but also penalties for the delayed delivery of the bikes and an impairment on bikes of a third party manufacturer. 

This cost is considered as a one time effect, as it is directly related to the delivery of the current bike order. This adjustment does not have any impact on the guidance given for 2023.

Preliminary Revenue: The preliminary revenue for 2022 is EUR 9.1M slightly higher than previously announced (company announcement no. 01-2023) and in line with guidance of EUR 9 to 10M  that was given in the beginning of the year. 

Annual report release: The annual report will be released on 31.03.2023 as planned in the financial calendar of the company.