EV Digital Invest AG Issues Positive FY23 Report and Launches New Financial Product

EV Digital Invest AG announced notable outcomes in their final FY23 financial report with sales reaching €4.1 million, a 20% decrease compared to the previous year, yet better than the market expectations. Despite a challenging economic environment, the company reported improvements in the second half of the year leading to sales of €2.6 million. However, EBITDA was reported at negative €3.9 million, slightly less than projected.

Adding to their portfolio, EV Digital Invest AG introduced a new call money account offering with a 3.2% interest rate, targeted at both new and existing customers. This product is set to enhance the company's financial service offerings, which includes property and ETF investments, and wealth management. The firm anticipates this new launch will attract significant customer inflows and asset growth over the next quarters.

Looking ahead to FY24, management remains cautious yet optimistic, expecting improvements in the real estate market and forecasting operating income between €4.9 million and €5.8 million with EBITDA up to € -1.9 million. The recommendation from NuWays AG was raised from 'Hold' to 'Buy' with a reduced target price of €3.60.