Mashup Ireland AB (“Mashup”) reports record revenues and first period of positive EBITDA of EUR 50K (SEK 561k) for the first half of 2024.
Ireland – August 26, 2024, Mashup Ireland AB (“Mashup” or the “Company”) (NASDAQ: MASHUP.ST), is pleased to publish its Interim Report for January – June 2024.
Highlights for the period include:
- Revenue for Q1 2024 was EUR 1.8m (SEK 21.1m), an increase of 16% year on year and revenue for Q2 2024 was EUR 2.5m (SEK 28.8m) an increase of 26% year on year. For the period January – June 2024, revenue was EUR 4.4m (SEK 50.0m), an increase of 21% year on year.
- EBITDA for January – June was positive EUR 50k (SEK 0.6m) compared to negative EUR 181k (SEK 2.2m) for the same period in 2023. In Q1 2024, EBITDA was negative EUR 40k (SEK 0.45m). In Q2 2024, EBITDA was positive EUR 90k (SEK 1.0m).
- Total Assets for the Company were EUR 15.1m (SEK 171.8m), with Net Assets being EUR 7.2m (SEK 81.5m).
- During the period, The Company completed the acquisition of Mashup PLC. The Company’s share price increased 122% from the completion of the acquisition of Mashup PLC to the end of the period.
- Shareholders of the Company approved an expanded strategy at the AGM on May 27 2024, to further the Company’s investment in more Irish SMEs. At the same meeting, shareholders also approved the change of name to Mashup Ireland AB, to reflect the expanded strategy.
- During the period, the Company started the process of originating its own loans by securing a EUR 200,000 from a private Irish investor. This is a first step in a larger strategy aimed at developing alternative sources of cost effective, non-dilutive capital for the Company, while providing a subsection of Irish investors with alternatives to holding cash in very low-yielding bank accounts and state savings products (where approximately EUR 161 billion is currently held).
Please click on the link below for a copy of the full report.