Niiio finance group AG Updates 2024 EBITDA Guidance Due to Reclassification of One-Off Expenses

niiio finance group AG, a Software-as-a-Service platform for asset and wealth management, has revised its financial forecast for 2024. The company now expects an EBITDA of -1.4 to -1.1 million EUR, diverging from its previous guidance of 0.7 to 1 million EUR issued in December 2023. However, the estimated consolidated revenues remain unchanged, ranging between 8.5 and 9.5 million EUR.

This adjustment stems from the reclassification of one-off expenses primarily associated with the partial repayment of a convertible loan note and contributions from fundsaccess AG, FundHero S.A., and FinTecc LLC. This change was implemented during the audit of the 2023 financial statements. Consequently, the 2023 expected EBITDA is slightly decreased from a range of 0.6 to 0.8 million EUR to approximately 0.45 million EUR.

The extraordinary general meeting on May 22, 2024, resolved to integrate fundsaccess AG, FundHero S.A., and FinTecc LLC into the niiio finance group. Based on this, as well as current financial projections, the company anticipates revenues of 18 to 20 million EUR and an EBITDA ranging from -0.1 to +1.9 million EUR in 2024, revised from a previous expectation of 2 to 4 million EUR.