UMT United Mobility Technology AG ("UMT") today published preliminary figures for the 2018 financial year. In the reporting year, the Group was able to improve its key figures with significant increases in revenue, total performance, gross profit and EBITDA. UMT benefited in particular from the dynamic growth in demand for modern, cashless payment alternatives.
According to preliminary calculations, the UMT Group's total operating performance rose by 35 percent to TEUR 12,431 in the past fiscal year (previous year: TEUR 9,224). This is mainly based on revenues of TEUR 9,520 (previous year: TEUR 6,503). Gross profit at Group level improved by 75 percent to TEUR 7,788 in the reporting year (previous year: TEUR 4,450). While consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of TEUR 2,713 more than doubled compared to the previous year (TEUR 1,317), consolidated operating earnings before interest and taxes (EBIT) fell to TEUR 250 (previous year: TEUR 550). This was due, among other things, to the scheduled amortization of goodwill carried out for the first time in 2018, as stated in the notes to the 2017 annual financial statements. The goodwill recognized on the assets side results from the difference on the assets side resulting from the consolidation of PEACHES Mobile GmbH and UMS United Mobile Services GmbH due to capital consolidation. In addition, further substantial investments were made in the 2018 financial year in the form of development services for the UMT transaction platform in order to do justice to the great market dynamics in the business segment and to ensure the UMT Group's long-term competitiveness in the future. Group earnings before taxes (EBT) fell accordingly to TEUR 117 (previous year: TEUR 328) due to depreciation in the reporting year, despite a significant decline in interest expenses. According to preliminary figures, the UMT Group closed the 2018 financial year with a consolidated net income of TEUR 117 (previous year: TEUR 328).
UMT technology enables its customers to benefit from the numerous advantages of state-of-the-art cashless payment processing solutions in conjunction with loyalty programs at the point of sale (POS). The functionalities of the transaction platform are to be successively expanded beyond pure payment functions to the processing of complete business processes.
On 21 May 2019, UMT AG also presented its innovative LOYAL Loyalty-App, which will be available for download for iOS and Android operating systems in the Apple App Store and Google Play Store in summer 2019 (learn more about LOYAL here or at umt.ag/loyal). With the revolutionary Meta-App, UMT will offer its customers even more overview, freedom and flexibility in selecting their favorite voucher and incentive programs (loyalty) while simultaneously accessing one of the largest and densest acceptance networks in Germany. And all this in connection with mobile payment at the checkout, by credit card or with crypto currencies such as Bitcoin (BTC) or Ethereum (ETH). For UMT AG, the launch of LOYAL means a significant and consistent extension of its value chain - a decisive step in its strategy: beyond pure mobile payment to a higher digital interlocking of cashless payments, loyalty programs and current deals.
With the ability to offer the UMT transaction platform with enhanced functionality and the launch of the LOYAL-App, UMT has taken an important step towards scaling its business model. In the future, UMT will benefit not only from the use of the installed and market-proven technology on the part of the retailers but also on the other side of the POS system: from the user of the UMT LOYAL-App. From today's perspective, the UMT Group expects an acceleration of the growth course for the 2019 fiscal year with an improvement in sales and operating profit against the background of the course set.
The non-cash capital increase resolved on 22 November 2018 was implemented and entered in the Commercial Register of the Munich Local Court on 28 March 2019. The contribution to the new shares was made through the contribution of a loan receivable of EUR 2,500,000.00 from UMT AG by SWM Treuhand AG Wirtschaftsprüfungsgesellschaft ("SWM Treuhand"). The conversion of these receivables from UMT AG into equity thus represents a significant contribution to the sustained strengthening of the Company's capital base. With the entry in the commercial register, the share capital of UMT AG increases from EUR 21,033,569.00 to EUR 23,533,569.00. SWM Treuhand now holds 59 percent of the new share capital.
The Group figures published in this announcement are preliminary. The annual financial statements of UMT AG as of 31 December 2018, have been prepared as individual financial statements. However, the annual financial statements of the subsidiary UMT Peaches Mobile GmbH are also required for the preparation of the voluntary consolidated financial statements of the UMT Group. In the course of the sale of all shares in UMT Peaches Mobile GmbH as of 30 November 2018, the Company was also deconsolidated in the consolidated financial statements of UMT AG. UMT Peaches Mobile GmbH did not provide any financial data up to the cut-off date of 10 May 2019, and with extension up to that date, which delayed the preparation of the consolidated financial statements. The inclusion in the preliminary consolidated financial statements was therefore based on the available information, planning and extrapolation.
The publication of the UMT Group's Annual Report 2018 is currently expected to take place in July 2019. The new date for the Annual General Meeting is Monday, 19 August 2019. The Annual General Meeting will take place at the premises of the Literaturhaus at Salvatorplatz 1 in Munich.