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Elvictor Group, Inc. (OTC Pink: ELVG) announced its 10-Q filing on Nov 15, 2022, reporting Q3 2022 results. Total revenue rose by 8.9% to $662,647, while gross profit surged 50.8% to $535,391, attributed to increased crew management demand. However, the company recorded a net loss of $54,273, although this is a 21.1% improvement year-over-year. Liquidity improved with a working capital surplus of $407,147, a 9.5% increase from the prior year. Elvictor aims to expand its services and technology for future growth.
Elvictor Group (OTC Pink: ELVG) will participate in the 12th Annual Capital Link Operational Excellence in Shipping Forum on September 29, 2022, in Athens, Greece. CEO Konstantinos Galanakis will discuss seafarer welfare amid geopolitical challenges in the shipping industry. As the largest US publicly listed crewing company, Elvictor manages crews for 110 vessels and employs 2,600 seafarers from 10 countries. The forum will address key issues related to recruitment and retention of maritime talent, crucial for operational success.
Elvictor Group Inc. (OTC Pink: ELVG) reported significant growth in its 2021 financial results, with revenue skyrocketing to $2,387,020, a 412% increase from 2020. The gross profit reached $1,367,249, reflecting a 57.3% margin, compared to 20.9% in 2020. However, the company faced a substantial net loss of $(43,164,740), primarily due to non-cash losses. Despite this, Elvictor has zero interest-bearing liabilities and a current assets surplus of $432,130, indicating positive liquidity. The CEO anticipates continued revenue increases into 2022.
Elvictor Group, Inc. (OTC Pink: ELVG) announced its participation in the 16th Annual Capital Link International Shipping Forum on March 28, 2022. CEO Konstantinos Galanakis will discuss the Impact of the Ukrainian Crisis on crewing and shipping sectors. The ongoing conflict has significantly affected the global supply of seafarers, with Russian and Ukrainian personnel accounting for 14.5% of the workforce. Elvictor currently manages crews for 110 vessels with a total of 2,600 seafarers from various countries, highlighting their unique position in the industry.
Elvictor Group, Inc. (OTC Pink: ELVG) has been recognized as the largest ship manning agent in Georgia for the second consecutive year, according to a survey by the Maritime Transport Agency of Georgia. The company supports around 1,000 seafarers registered in the National Maritime Registry, benefiting from a reputable training system and a government-sponsored cadet program. CEO Konstantinos Galanakis highlighted a 95% retention rate and a 20% growth in Georgian recruitment, emphasizing the dedication of their seafarers during challenging times.
Elvictor Group, Inc. (OTC Pink: ELVG) has been awarded the Gold award for Responsible Management Excellence by the European Business Ethics Network (EBEN) for the second consecutive year. This recognition highlights the company's commitment to ethical business practices and excellence in global ship management. CEO Konstantinos Galanakis expressed pride in the achievement, emphasizing the importance of ethics in their operations. Elvictor leverages advanced technologies to enhance vessel and crew management, ensuring compliance with global regulatory standards.
Elvictor Group (OTC Pink: ELVG) provided an update on its corporate strategy following its Q3 2021 financial results. The company reported revenue of $608,614 and a gross profit of $355,058, marking significant year-over-year increases of 3,925.5% and 2,248.4%, respectively. However, it also recorded a net loss of $68,812, up 0.9% from the prior year, attributed to rising professional fees and personnel costs. Elvictor plans to leverage its technology and AI for expansion, aiming to enhance its client base and incorporate vertical integration in maritime services.
Elvictor Group Inc (OTC Pink: ELVG) announced the engagement of Capital Link, Inc. for corporate communications and investor relations services, aiming to boost visibility in the maritime sector. CEO Konstantinos Galanakis expressed optimism about the partnership, expecting enhanced awareness among investors during a transformative phase for the company. Capital Link's President, Nicolas Bornozis, highlighted Elvictor's unique position in the maritime industry, suggesting significant growth potential. The collaboration is anticipated to strengthen investor outreach and branding efforts.
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