CALVERT INTERNATIONAL AG
CALVERT INTERNATIONAL AG PUBLISHES CONSOLIDATED FINANCIAL STATEMENTS 2022
OUTLOOK 2023 OPTIMISTIC
Frankfurt am Main, July 4, 2023 - Calvert International AG ("CIAG"; ISIN DE000A0JK2A8), formerly Centurion International AG, published, on 30 June 2023, its solidated financial statements for the fiscal year 2022. CIAG generated consolidated revenue of EUR 3.6 million in fiscal year 2022 (2021: EUR 4.1 million).
RELATIVELY STABLE RESULT THANKS TO EFFECTIVE COST MANAGEMENT Thanks to the company's restrictive cost policy, the 12.2% decline in consolidated sales was almost offset in earnings. EBITDA for the Group as a whole amounted to EUR 0.347 million in fiscal 2022 (2021: EUR 0.472 million). The positive result for the year was EUR 0.162 million (2021: EUR 0.329 million). At the end of 2022, total assets were EUR 5.0 million, an increase of 11% (EUR 4.5 million in 2021).
POSITIVE OUTLOOK FOR AFRICA - SOUTH AFRICA BURDENED Overall, CIAG had a good economic start to the 2022 financial year following its successful listing on the Düsseldorf Stock Exchange in February 2022.Due to the geopolitical situation, the European energy market was in a process of reconfiguration in 2022. Increasingly, African suppliers were in demand to meet European demand for energy sources through long-term contracts between Africa and the EU. Nevertheless, the South African subsidiary was the only Group company to record a decline in sales, due in particular to the sharp increase in power outages (so-called "load shedding") in 2022 and the associated impact on general South African economic activity. CIAG expects the macroeconomic situation in South Africa to stabilize in the coming years. In addition, CIAG is already in discussions with customers to benefit from consulting and advisory services as well as investments in so-called off-grid solutions in the future.
OUTLOOK: STRATEGIC REALIGNMENT In order to better distinguish the management holding and investment activities from the consulting business of Centurion's subsidiaries in the future, the Board of Directors has decided to rename the company Calvert International AG ("CIAG"). Going forward, the company will focus on activities as an investment holding company with a focus on the African energy sector. With the increasing global interest in the African energy sector, the strategic realignment offers growing potential to acquire more profitable and cash flow positive portfolio companies in the African energy sector. CIAG is already in negotiations with several renewable energy companies, such as hydrogen and carbon capture, which will be firmed up during 2023. The subsidiaries Centurion Law Group in South Africa and Mauritius will continue to focus on the consulting business. In addition, Centurion Plus GmbH was established as a subsidiary to further expand the Lawyer-on-demand business in Europe.
About CIAG Calvert International AG (CIAG) is an investment holding company focused on the African energy sector and headquartered in Frankfurt am Main, Germany. CIAG's shares are listed on the Düsseldorf Stock Exchange. CIAG currently operates as the management holding company of its subsidiaries Centurion Law Group in South Africa and Mauritius, providing mainly growth capital, management services and strategic advice to its subsidiaries. Centurion Law Group provides comprehensive professional services, in particular legal advice in all African jurisdictions around market entry and pan-African expansion strategies for private and public sector companies, with a focus on the African energy sector.
www.calvertinternational.com
Contact for investor relations and press inquiries: Calvert International AG Maximilian Fischer, Investor Relations Opernplatz 14, 60313 Frankfurt am Main, Germany T: +49 69 1532944 42 ir@calvertinternational.com End of Media Release Issuer: Calvert International AG Key word(s): Energy
04.07.2023 CET/CEST Dissemination of a Press Release, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Calvert International AG |
| Opernplatz 14 | |
| 60313 Frankfurt | |
| Germany | |
| E-mail: | INFO@calvertinternational.com |
| Internet: | http://www.calvertinternational.com/ |
| ISIN: | DE000A2YN5X9 |
| WKN: | A2YN5X |
| EQS News ID: | 1672177 |
| Notierung vorgesehen./ Intended to be listed. |
| End of News | EQS Media |
1672177 04.07.2023 CET/CEST
