EV Digital Invest AG Updates Forecast for 2024 and Places Convertible Bonds

Berlin, 30 May 2024. EV Digital Invest AG (ISIN: DE000A3DD6W5), operator of the online investment platforms ‘Engel & Völkers Digital Invest’ and ‘Digital Invest Assets’, has updated its 2024 financial forecast. The company now expects income between EUR 2.3 million and EUR 2.7 million, with EBIT projected at EUR -3.5 million to EUR -4.1 million. Total costs are estimated to be between EUR 5.8 million and EUR 6.6 million. This is a revision from the previous forecast, which anticipated a 10 to 30 percent increase in income for 2024 and an improved EBIT of up to EUR -1.9 million.

Additionally, EV Digital Invest AG identified a need for extra capital and will address this through the issuance of two convertible bonds totaling EUR 2.5 million. The first bond, valued at EUR 1.1 million, has been subscribed by the majority shareholder. The second bond, valued at EUR 1.4 million, will be issued following the Annual General Meeting. Shareholders' subscription rights are excluded, with a conversion price set at EUR 3.25 per share and a term of two years. The bonds are subject to qualified subordination.

Further details can be found on the company’s websites, www.ev-digitalinvest.de and www.digitalinvest-assets.de.