Philomaxcap AG: Philomaxcap AG publishes half-year financial report as of June 30, 2024

München (pta030/31.07.2024/16:45) - Philomaxcap AG publishes half-year financial report as of June 30, 2024

* Balance sheet restructuring completed: Equity ratio now at 91 percent
* Establishment of a new business operation as a holding company

Philomaxcap AG, Munich, has published its half-year financial report 2024 (01.01. to 30.06.2024). Thanks to a capital increase combined with a further cash contribution to the capital reserves, the company once again has sufficient equity and liquid funds.

Due to the fact that the operating business as a holding company has only just begun, the half-year loss amounted to kEuro 233 (HY1/2023: half-year loss of kEuro 138). The purpose of Philomaxcap AG as a holding company is now to manage existing investments and those yet to be acquired as well as to act as a managing holding company. The first investment was acquired at the beginning of 2024.

As a result of the capital increase against contributions in kind carried out in February 2024, the share capital increased by EUR 15,600,000 from EUR 1,407,234 to EUR 17,07,234 or shares. The contribution in kind relates to an investment in AmeriMark Group AG, a holding company in Switzerland. Philomaxcap AG now holds 13,000,0000 of a total of 26,800,000 shares and thus 48.46% of the shares in AmeriMark Group AG.

The company's balance sheet situation has changed significantly as a result of the non-cash capital increase. After years with negative equity, Philomaxcap AG reported positive equity of EUR 14,598,988 as of June 30, 2024. The equity ratio is now 91.1 percent compared to zero percent at the end of 2023.

The same applies to the company's liquidity situation. The payment of EUR 250 thousand made to the capital reserve in April 2024 and the loan of EUR 625 thousand granted by the new majority shareholder created a stable financial basis.

"We are very pleased that we have been able to successfully implement decisive steps to stabilize and secure the future of the company in recent months," says Achim Pfeffer, CEO of Philomaxcap AG. "With the successful implementation of the non-cash capital increase and the inflow of liquid funds from the new majority shareholder, Philomaxcap can operate on a solid financial basis. These measures allow us to look to the future with renewed energy and confidence and to continue to pursue our strategic goals of building a successful holding company."

The half-year financial report 2024 is available for download on the company website

https://philomaxcap.de/7.html

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For further information, please contact:

Investor Relations, Maximilian Fischer, max. Equity Marketing GmbH, Marienplatz 2, 80331 Munich, phone: +49 89 13928890

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