UMT AG publishes half-year report 2024
UMT United Mobility Technology AG (“UMT AG”, Securities identification number / WKN: A2YN70, ISIN: DE000A2YN702) has published its half-year report 2024 at individual financial statement level. The company recorded total performance of TEUR 58 for the first half of 2024 (previous year: TEUR 97). Gross profit fell by TEUR 40 to TEUR 57 in the reporting year (previous year: TEUR 97). Earnings before interest and taxes (EBIT) amounted to TEUR -408 (previous year: TEUR -263). Earnings before taxes (EBT) also deteriorated to TEUR -556 (previous year: TEUR -229). UMT AG’s net loss for the year as of June 30, 2024 was TEUR -556 (previous year: net loss for the year of TEUR -251).
In the first half of 2024, in addition to the turbulence resulting from legacy investments and the associated costs, UMT AG was once again able to start designing and developing an independent consulting and product offering and establishing a Europe-wide customer approach with a special sales team. Unfortunately, the increased costs in the first half of the year clearly reflect this.
“Following the considerable challenges of recent years, the company is still in the turnaround phase, particularly with regard to the creation and expansion of its own product portfolio and the development of sales. Based on a comparatively low level of operating costs, we are working hard to expand our operating business effectively. The convertible bond currently being placed should also help to significantly expand marketing and sales and thus win customers and increase sales. If one compares the situation of UMT AG with an airplane, it is now in the take-off phase after a long descent. The next goal is to climb,” says Erik Nagel, CEO of UMT AG.
As an independent and consulting-based provider, UMT AG markets and distributes AI solutions in the field of document and process management throughout Europe. The focus here is on the UMTVision solution, which offers the automation of all text-based processes in a variety of industries with a flexibility that is otherwise not available on the market by combining different AI models in parallel and sequentially. This plays a particularly important role in the automation and processing of external documents in internal company workflows, similar to an artificial AI clerk. Examples include the comparison of incoming invoices with order data, the automatic processing of damage reports by comparing them with the customer’s collective agreement or the fully autonomous processing of transport orders in the logistics sector.
In addition to expanding its operating business, UMT AG, as an investment company, is also examining investments in companies that match its own core competencies. The medium-term goal is to become a provider of focused and scalable solutions and products with a focus on IT- and AI-based efficiency enhancement for companies. The focus here is on companies whose solutions are well positioned operationally and therefore offer opportunities for growth across Europe. Promising talks are currently being held in this regard. The priority here is to invest in companies that are operationally and financially stable.
About UMT AG:
As an innovative company, UMT United Mobility Technology AG primarily stands for the integration of customised solutions in the field of digitalisation and automation of business processes. With its self-developed payment gateway, intelligent solutions for document processing and blockchain solutions in the area of supply chains, UMT AG is successful in rapidly growing segments that are in high demand. The focus here is on consulting and the creation of digital and scalable solutions that are strictly customer-oriented, especially for SMEs and larger companies. In addition to organic growth, UMT AG strives to acquire both customers and technologies through targeted acquisitions of companies. The IT and consulting expertise built up over a decade forms the basis for value-creating investments in companies that contribute to the digital transformation of SMEs.
The UMT United Mobility Technology AG share (WKN: A2YN70, ISIN: DE000A2YN702) is traded on the Frankfurt Stock Exchange and is listed on the Basic Board of Deutsche Börse AG.