Exxe Group Acquires Furniture Manufacturer and Interior Design Agency, daskonzept group AG

Rhea-AI Summary

Exxe Group, Inc. (OTC PINK:AXXA) has acquired a controlling interest in Swiss furniture manufacturer and interior design agency daskonzept group AG. daskonzept holds $11.4 million in assets and reported $4 million in revenue with an EBITDA of $813,000 for CY-2020. The acquisition is expected to bolster AXXA's portfolio, projecting a revenue increase of 37% to $5.5 million and EBITDA growth of 34% to $1.1 million in CY-2021. This marks AXXA's entry into the furniture sector, targeting significant growth and enhanced capabilities.

Positive

• Acquisition of controlling interest in daskonzept positions AXXA in a growing market.
• Projected revenue growth of 37% to $5.5 million and EBITDA growth of 34% to $1.1 million for CY-2021.

Negative

• None.

• daskonzept group AG is a premier Swiss-based furniture manufacturer and interior design agency
• daskonzept had $11.4 million in assets, $4 million in revenue, and EBITDA of $813,000 in CY-2020
• Estimated CY-2021 revenue is $5.5 million and EBITDA of $1.1 million

NEW YORK, NY / ACCESSWIRE / May 20, 2021 / Exxe Group, Inc. (OTC PINK:AXXA), a diversified fintech company, has acquired a controlling interest in furniture manufacturer and interior design agency daskonzept group AG, which is headquartered in Thun, Switzerland.

daskonzept had assets of $11.4 million, revenue of $4 million, and EBITDA of approximately $813,000 in CY-2020. CY-2021 estimates are for revenue growth of 37% to $5.5 million, and EBITDA growth of 34% to $1.1 million.

daskonzept furniture brands include USM Haller, Vitra, Tecno, and Inno. The Company has various furniture manufacturing plants, offices, and warehousing operations in Switzerland, Italy, Finland, and Germany.

daskonzept has served a range of prestigious clients including, but not limited to, MoMA, Museum of Modern Art, New York, Charles & Ray Eames, George Nelson, Sir Norman Foster, Frank Gehry, Nicholas Grimshaw, Zaha Hadid, Tadao Ando, ​​Alvaro Siza, Herzog & de Meuron, and SANAA.

Eduard Nazmiev, Ph.D., Exxe Group's CEO said: "The daskonzept acquisition marks AXXA's entry into the furniture manufacturing and interior design space. AXXA is now positioned to capitalize on an over 30% increase in revenues and EBITDA for daskonzept."

About Exxe Group, Inc.

Exxe Group is a diversified fintech corporation focusing on acquisitions in the following sectors: real estate, sustainable technology, media, agribusiness, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com

CONTACT: Exxe Group IR: info@exxegroup.com, Twitter: https://twitter.com/exxegroup

About daskonzept group AG: Daskonzept is an interior architecture, design, office planning, and furniture sales firm. The Company designs and develops prototypes and produces a range of office living design furniture custom-made products under its own brand -designarchiv-, and is also an importer with exclusive partnerships of designer furniture in Switzerland. Markets include real estate development, coworking, revitalization, and temporary use furniture.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.

SOURCE: Exxe Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/648222/Exxe-Group-Acquires-Furniture-Manufacturer-and-Interior-Design-Agency-daskonzept-group-AG

FAQ

What is the purpose of Exxe Group's acquisition of daskonzept group AG?

The acquisition aims to expand Exxe Group's portfolio into the furniture manufacturing and interior design sectors.

What are the financial metrics for daskonzept prior to the acquisition?

In CY-2020, daskonzept reported $4 million in revenue and an EBITDA of $813,000.

What revenue and EBITDA projections does Exxe Group have for daskonzept in CY-2021?

Exxe Group projects a 37% revenue increase to $5.5 million and a 34% EBITDA increase to $1.1 million for CY-2021.

How does the acquisition impact AXXA's business strategy?

The acquisition aligns with AXXA's strategy to acquire undervalued companies and actively improve their performance.