Exxe Group Reports Record Revenues and Profits for the Fiscal Year Ending March 31, 2021

Rhea-AI Summary

Exxe Group (OTC PINK:AXXA) reported record annual revenue of $33.9 million for FY-21, a 121% increase from $15.3 million in FY-20. Annual profits reached $6.6 million, up 86.8% from $3.6 million the previous year. In 4Q2021, revenues surged 50% to $10.2 million compared to $6.8 million in 4Q2020, breaking previous quarterly records. The company's total assets increased 15.2% to $222 million. Furthermore, Exxe Group's agribusiness and automotive segments displayed significant growth, contributing to overall performance.

Positive

• Record annual revenue of $33.9M, a 121% increase year-over-year.
• Annual net income of $6.6M, an 86.8% increase from FY-20.
• 4Q2021 revenue increased 50% to $10.2M versus 4Q2020.
• Total assets rose 15.2% to $222M.

Negative

• None.

Exxe reports a record annual revenue of $33.9M and record profits of $6.6M
Annual revenue increased by 121% to $33.9M in FY-21 versus $15.3M in FY-20
Annual profits increased by 86.8% to $6.6M in FY-21 versus $3.6 million in FY-20
In 4Q2021 revenues increased 50.0% to $10.2M versus $6.8M in 4Q2020
4Q2021 revenue of $10.2M surpassed the record $9.3M Quarter in 3Q2021

NEW YORK, NY / ACCESSWIRE / July 7, 2021 / Exxe Group, Inc. (OTC PINK:AXXA), a diversified fintech company, reports financial results for its year ending March 31, 2021.

Quarterly Events

• 1Myle received final connectivity confirmation to a major European crypto marketplace
• 1Myle began limited revenue generation operations with the private traders community
• AXXA VC's early-stage startup received a $250K round investment from an intl VC funder
• Acquisition of digital marketing agency MarketMediaConnect (MMC)

Key Metrics

	FY-2021 ($)	FY-2020 ($)	Percentage Change
Total Current Assets	16,957,829	13,667,506	24.1%
Total Assets	222,048,419	192,763,016	15.2%
Shareholder Equity	138,465,749	116,229,197	19.1%
Annual Revenue	33,900,534	15,341,001	121.0%
Annual Net Income / Loss	6,643,421	3,556,558	86.8%

Performance Snapshot

AXXA's annual revenues grew 121.0% in FY-2021 to $33,900,534 as compared to $8,373,694 in the same period last year. Net annual income for FY-2021 was $6,643,421 as compared to net annual income of $3,556,558 in the same period last year, an increase of 86.8%.

AXXA generated $10,176,590 gross revenues in 4Q2021 surpassing the $9,263,526 record set in 3Q2021; a 9.9% sequential Quarter-over-Quarter growth. Compared to the same period last year, 4Q revenue increased 50.0% from $6,783,338.

Gross revenue per share for FY-21 was $0.0643 as compared to $0.0365 in the same period last year, an increase of 76.1%.

Total assets were $222,048,419 in 4Q2021 as compared to $192,763,016 in the same period last year, an increase of $29,285,403 or 15.2%.

Highlights

Exxe Group's Agribusiness revenue continued increasing as commodity prices for corn, barley and wheat prices rose during the Company's Fourth Quarter. World food prices in March 2021 as measured by the UN's Food and Agriculture Organization (FAO) Food Price Index reached their highest level since June 2014, and was the 10th consecutive monthly increase.

Exxe Group saw a noticeable uptick in automotive demand. DHE Group and Mein Motor, which are combined into one automotive segment, reported revenues of $1,974,569. The combined segment supplies a range of products and services to the automotive sector including center discs, barrels and wheel rims for harvest vehicles and large transport vehicles, and ecommerce engine overhaul and repair services business.

MMeditech GmbH which sources and sells high-use consumables to the Swiss medical supply market reported revenues of $745,099 in its most recent quarter. This is the first full Quarter since Exxe Group acquired the Company and is an approximately 25% increase in revenue since the acquisition took place.

Eduard Nazmiev, Ph.D., CEO and President of Exxe Group commented: 'Exxe Group made substantial progress in FY-2021 by effecting strategies that turned negative economic lockdown restrictions into positive corporate results. We are pleased to report that Exxe beat the top end of its estimated gross annual revenue forecast by 3.6%, ending FY-21 with record gross revenues of $33.9M and record profits of $6.6M.'

Subsequent Events

On June 14, 2021, Exxe Group outlined a shareholder-friendly debt restructuring plan that addresses certain indebtedness approximating to $5 million. This restructuring is non-dilutive to shareholders and works by increasing the length of debt terms in order to improve cash flow.

On June 10, 2021, 1Myle completed the implementation of a fully automated Know Your Customer (KYC) compliance software module, completed enhanced connectivity to the cryptocurrency Exchange 1Myle is working with, and completed several validation tests. These combined developments significantly reduce compliance costs and operating expenses.

On May 20, 2021, Exxe Group announced the acquisition of a controlling interest in furniture manufacturer and interior design agency daskonzept group AG, which is headquartered in Thun, Switzerland.

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

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

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https://www.accesswire.com/654560/Exxe-Group-Reports-Record-Revenues-and-Profits-for-the-Fiscal-Year-Ending-March-31-2021

FAQ

What were Exxe Group's annual revenues for FY-21?

Exxe Group reported annual revenues of $33.9 million for FY-21.

What is the net income increase for Exxe Group in FY-21?

Exxe Group's net income increased by 86.8% to $6.6 million in FY-21.

How did Exxe Group perform in 4Q2021?

In 4Q2021, Exxe Group's revenues increased 50% to $10.2 million compared to 4Q2020.

What were the total assets reported by Exxe Group?

Exxe Group reported total assets of $222 million in 4Q2021.

Which segments contributed to Exxe Group's growth?

Exxe Group's growth was driven by its agribusiness and automotive segments.