The Social Chain AG
- WKN: A1YC99
- ISIN: DE000A1YC996
- Land: Deutschland
Nachricht vom 11.05.2020 | 10:00
SOCIAL CHAIN AG forecasts EUR 200 million turnover and EUR 8 million EBITDA for 2020
Medienmitteilung SOCIAL CHAIN AG forecasts EUR 200 million turnover and
Berlin, 11 Mai 2020: THE SOCIAL CHAIN AG (WKN: A1YC99) presents its first full year forecast: Based on turnover of around EUR 200 million (proforma consolidated), SOCIAL CHAIN AG will generate positive EBITDA of EUR 8 million in 2020. THE SOCIAL CHAIN AG was only founded in October 2019 through a merger of THE SOCIAL CHAIN Group AG and Lumaland AG. Wanja S. Oberhof, CEO of SOCIAL CHAIN AG: "Despite the current Covid-19 crisis, our young SOCIAL CHAIN AG is operating at a significant level of profitability virtually from a standing start. Within only six months, we have succeeded in optimising our processes and our brand portfolio enough to be able to report a substantial positive EBITDA in our first full financial year 2020 with high growth momentum. SOCIAL CHAIN sees itself as a pioneer for social media brands, reaching over 80 million followers worldwide with its own social media channels and social events. SOCIAL CHAIN is also one of the leading providers of digital marketing services. Oberhof: "With the first official forecast now available, we are proving the strong positioning of SOCIAL CHAIN AG. The Covid-19 crisis is reducing our turnover in digital marketing and social events considerably. On the other hand, we can more than compensate for these losses with exceptionally strong performance in Social Commerce with our own brands." The current crisis offers substantial opportunities for SOCIAL CHAIN AG. SOCIAL CHAIN is currently in advanced negotiations to acquire various brands and companies with a potential additional turnover in the region of EUR 100 million. This could increase the proforma consolidated turnover of SOCIAL CHAIN AG to around EUR 300 million as early as 2020. Oberhof adds: "A key component of our strategy is to accelerate organic growth through selected acquisitions. We now have the critical mass of structures, management and capital to select the right companies and integrate them without delay. The current opportunities for acquisitions on attractive terms would be a promising basis for further growth in 2021". SOCIAL CHAIN AG places a particular focus on expanding its business in the USA. By 2020, SOCIAL CHAIN aims to increase the share of turnover generated in the US to over 50 percent.
About The Social Chain AG The first integrated social media company THE SOCIAL CHAIN AG combines social media and social The content of this press release is for information purposes only and does not constitute investment advice or other recommendations pursuant to the German Securities Trading Act by The Social Chain AG or its affiliated companies. The information provided cannot replace investment advice. End of Media Release Issuer: The Social Chain AG Key word(s): Enterprise
11.05.2020 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | The Social Chain AG |
Gormannstraße 22 | |
10119 Berlin | |
Germany | |
Phone: | +49 (0)30 120840112 |
E-mail: | contact@socialchain.com |
Internet: | www.socialchain.com |
ISIN: | DE000A1YC996 |
WKN: | A1YC99 |
Listed: | Regulated Unofficial Market in Dusseldorf |
EQS News ID: | 1040719 |
End of News | DGAP Media |
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