- Digitalisation spurt increases attractiveness of the portfolio
- Large growth financing rounds in the portfolio confirm investment approach
- Consolidated result increases to EUR 2.94 million or EUR 0.48 per share
- Net asset value (NAV) increases to EUR 47.8 million or EUR 6.93 per share (previous year: EUR 40.1 million, EUR 6.39 per share)
Munich, 05 May 2021 – Mountain Alliance AG (MA, ISIN DE000A12UK08) published its Annual Report 2020 and Net Asset Value as of 31 December 2020 today.
Despite the COVID-19 crisis and the resulting restrictive government measures, which individual portfolio companies were naturally unable to escape in their operating business, 2020 was a very successful year for Mountain Alliance’s investment portfolio.
As of the balance sheet date 31 December 2020, the portfolio value of the four segments Technology, Digital Business Services, Digital Retail and Meta-Platforms & Media totalled EUR 50.8 million, compared to EUR 45.6 million in the previous year. Considering the net financial liabilities of EUR 3.0 million, the NAV of Mountain Alliance AG amounted to EUR 47.8 million on the valuation date, compared to EUR 40.1 million the previous year. The NAV per share increased to EUR 6.93 compared to EUR 6.39 as of 31 December 2019.
Mountain Alliance AG generated consolidated turnover of EUR 9.84 million in financial year 2020 compared to EUR 13.51 million in the previous year. This reflects the impact of the pandemic and the numerous containment measures ordered by authorities. The event-related business of Shirtinator AG was impacted and thus resulted in a significant decline in turnover. Turnover at getonTV GmbH also decreased due to lower advertising budgets, especially from the tourism industry.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) declined to minus EUR 2.25 million compared to minus EUR 1.57 million in the previous year. Earnings before interest and taxes (EBIT) reached minus EUR 2.99 million after minus EUR 2.21 million the previous year.
Mountain Alliance AG was able to more than compensate for the pandemic-related declines with its financial result. It increased significantly in the reporting year to EUR 7.82 million after EUR 0.52 million the previous year due to the exceptionally strong development of the overall portfolio, which was characterised by the IPO of Exasol, the successful capital rounds with renowned investors in investments such as AlphaPet and Tillhub, as well as the very positive development of the listed investments Bio-Gate and Asknet Solutions.
Overall, the net result for the reporting year was EUR 2.94 million, compared to minus EUR 1.75 million in financial year 2019. Earnings per share improved significantly from minus EUR 0.29 in 2019 to EUR 0.48 in the 2020 reporting period.
The total assets of the Group increased to EUR 55.9 million as at 31 December 2020 (balance sheet date 2019: EUR 43.5 million). The equity ratio remained high at 69% as at the 2020 balance sheet date, compared to 75% the previous year.
“The pandemic has clearly shown that there is an enormous need to catch up in in all areas of digitalisation. The resulting momentum that is driving digitisation can be increasingly seen in the growing interest of investors in the business models we are invested in. Our early focus on digital and technology-driven business models is now clearly paying off, as the successful transactions in our portfolio in 2020 and the latest financing round at our investment Lingoda impressively demonstrate,” said Daniel Wild, CEO of Mountain Alliance AG.
Due to the technology and digitalisation spurt in the economy and society and the high interest of investors in companies with digital and technology-based business models, the management of Mountain Alliance AG is fundamentally optimistic for the year 2021. In terms of consolidated revenue, the company is aiming for an increase of 5% to 10% in the fully consolidated investments. In terms of net asset value, the management also expects an organic increase of 5% to 10% for 2021, subject to the future performance of the listed investments and based on the growth of the portfolio companies, the increasing interest of investors in the Mountain Alliance investments and value-generating acquisitions.
Net Asset Value calculation of the MA Group
|NAV Segment||in EUR million|
|Digital Business Services||8.0|
|Meta-Platforms & Media||5.0|
|Net Financial Liabilities||3.0|
|Net Asset Value (NAV)||47.8|
|NAV per Share (in EUR)||6.93|
The complete Annual Report 2020 is available for download in the Investor Relations section at www.mountain-alliance.de.