- Portfolio value rising to EUR 54.8 million after EUR 50.8 million
as of 31 December 2020
- Net asset value (NAV) improved by 11% to EUR 52.8 million (31 December 2020: EUR 47.8 million)
- NAV per share at EUR 7.67 as of 30 June 2021
- High demand for digital business models
Munich, 21 September 2021 – Mountain Alliance AG (MA, ISIN DE000A12UK08) today publishes its half-year report 2021 and net asset value as of 30 June 2021.
The first half of 2021 was largely characterized by overall macroeconomic recovery. Although the effects of the Corona pandemic were still being felt, economies worldwide were visibly recovering from the enormous shock of the previous year. The upswing resulting from the significant progress in vaccination and the financial aid provided by the states in the industrialized countries had a positive impact on the overall portfolio of Mountain Alliance AG.
Mountain Alliance AG generated consolidated revenues of EUR 4.23 million in the first half of 2021 compared to EUR 4.73 million in the previous year. The consequences of the public restriction measures were still noticeable in 2021 in the event- and promotion-related business models at getonTV, promipool and Shirtinator. In the case of getonTV, the changed business model in accordance with the operating lease agreement must also be taken into account in the year-on-year comparison.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) remained constant at minus EUR 1.22 million. Earnings before interest and taxes (EBIT) amounted to minus EUR 1.49 million after minus EUR 1.47 million in the previous year. With a quadrupling of the financial result to around EUR 7.42 million, Mountain Alliance AG benefited mainly from the high dynamics in the EdTech market and the associated increase in value of the portfolio company Lingoda. Earnings before taxes (EBT) improved to EUR 5.92 million compared to EUR 0.31 million in the first half of 2020. The bottom line for the reporting period was a consolidated result of EUR 4.96 million compared to minus EUR 0.45 million in the first half of 2020. Earnings per Mountain Alliance share as of 30 June 2021 increased accordingly from minus EUR 0.05 to plus EUR 0.75.
The portfolio of the four segments Technology, Digital Business Services, Digital Retail and Meta-Platforms & Media reached a value of EUR 54.8 million as of 30 June 2021, compared to EUR 50.8 million as of 31 December 2020. Taking into account net financial liabilities in the amount of EUR 2.0 million, the net asset value (NAV) of Mountain Alliance AG amounts to EUR 52.8 million. Compared to the year-end value 2020 of EUR 47.8 million, this corresponds to an increase of 10.6%, which is mainly due to the increase in value of Lingoda. Based on 6,886 million shares outstanding as of 30 June 2021, the NAV per share is EUR 7.67 compared to EUR 6.93 as of 31 December 2020.
Net Asset Value Calculation of the MA Group
|NAV Segment||in EUR million|
|Digital Business Services||7.5|
|Meta-Platforms & Media||4.7|
|Net Financial Debt||2.0|
|Net Asset Value (NAV)||52.8|
|NAV per Share (in EUR)||7.67|
Mountain Alliance is ideally positioned to grow further in the wake of the technology and digitalization push in business and society. Against this backdrop, management reaffirms its medium-term goal of reaching the EUR 100 million mark in terms of portfolio value. To achieve this growth target, the company intends to continue acquiring attractive portfolios in addition to organic growth. Looking ahead to fiscal 2021, management is confident in view of the successful performance in the first half of the year. Based on the current development of the coronavirus infections and the revenue development to date, Mountain Alliance AG is aiming for a consolidated revenue at the previous year's level for the fully consolidated portfolio companies in 2021. The net asset value is expected to be five to ten percent above the level of December 2020, based on the growth of the portfolio companies, the sustained increase in investor interest in our investments and subject to the future performance of the listed investments.
”The continued successful development of Mountain Alliance in the first half of 2021 clearly underlines that the future belongs to business models that provide people with a high degree of flexibility. The recent crisis has become an accelerating factor for us. We have arrived in the digital age, especially here in Germany, and our portfolio companies in sectors such as e-learning, digital health and remote work are playing a leading role. The successes of the past months and the overarching industry trends make me optimistic about the full year 2021 and beyond,” says Manfred Danner, CEO of Mountain Alliance AG.