Calvert International AG Announces 2023 Consolidated Financial Results

Frankfurt am Main, July 19, 2024 - Calvert International AG (CIAG) has released its consolidated financial statements for the fiscal year 2023. CIAG reported a consolidated revenue of EUR 2.1 million, a decrease from EUR 3.6 million in 2022. This decline is attributed to the expiry of key customer contracts, which were not fully replaced by new clients. The company responded by diversifying its offerings to adapt to market changes.

Thanks to effective cost management, the decline in sales was nearly compensated in earnings. EBITDA for the group amounted to EUR 0.208 million in 2023, down from EUR 0.274 million in 2022. Nevertheless, the positive result for 2023 was EUR 0.244 million, an increase from EUR 0.162 million in 2022.

The company ended the year with total assets of EUR 4.887 million, a slight decrease of 2.5% from EUR 5.011 million at the end of 2022. Total equity stood at EUR 2.974 million as of December 31, 2023.

Looking ahead, CIAG is focusing on the African energy sector, with plans for strategic realignment in 2024. The company recently acquired Emerging Energy Corporation (EEC), expanding its portfolio and commitment to innovative energy solutions. CIAG is also in talks with several renewable energy firms, aiming to drive the adoption of green technologies in Africa.