UMT AG publishes preliminary annual results for 2020: significant improvement in revenue and earnings – strong growth expected in 2021
- 2020 revenue: +103 percent to TEUR 25,775
- 2020 consolidated net income: +255 percent to TEUR 3,783
UMT United Mobility Technology AG (ISIN: DE000A2YN702) today announced preliminary figures for the past fiscal year. As forecast, the group was able to improve revenue and total operating performance by a triple-digit percentage in 2020 and increase profits at a much disproportionate rate.
According to preliminary calculations, the UMT Group’s total operating performance more than doubled to TEUR 27,552 in 2020 (previous year: TEUR 13,592). Revenue increased by +103 percent and reached TEUR 25,775 (previous year: TEUR 12,718). Revenues were generated in the areas of licensing, software development, consulting, as well as transaction and commission business. Gross profit at Group level improved by +47 percent to TEUR 13,667 in the reporting year (previous year: TEUR 9,318).
While consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of TEUR 9,337 almost doubled compared with the previous year (TEUR 4,896), consolidated operating earnings before interest and taxes (EBIT) rose by a disproportionately high +381 percent to TEUR 5,212 (previous year: TEUR 1,083).
Consolidated earnings before taxes (EBT) also increased almost fivefold (+379 percent) to TEUR 5,103 (previous year: TEUR 1,066). As a result, the UMT Group’s net profit for the year rose by +255 percent to TEUR 3,783 (previous year: TEUR 1,065).
In the course of its strategic realignment, the UMT Group expects continued strong growth. “As part of our guidance for the current financial year, we aim to at least double revenue and earnings, as in the previous year,” says Dr. Albert Wahl, CEO of UMT AG. As part of its transformation from a mobile payment specialist to a value-oriented and digital “TechnologyHouse” for integrated mobile commercial applications with a “buy-and-build” approach, the company also expects further significant revenue and earnings growth in the coming years. “Investors should participate in the positive development of the UMT Group in the future. Our stated goal is to also pay a corresponding dividend to our shareholders in the future as part of a sustainable dividend policy with an improvement in returns and cash flow,” Dr. Wahl continues.
The Group figures disclosed in this release are preliminary.
According to current estimates, the UMT Group’s Annual Report 2020 will be published at the end of June 2021.
The date for the Annual General Meeting of UMT AG is Tuesday, August 17, 2021. Against the background of the Covid-19-related ban on meetings, the Board of Management of UMT has decided to hold this year’s Annual General Meeting as a virtual event, as in the previous year. The convening of the virtual Annual General Meeting will be announced in the electronic Federal Gazette.