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Engel & Völkers Digital Invest: Adjusted EBIT for 2022 financial year significantly above estimation – Total operating income and earnings in 2023 financial year expected to be below the analysts' estimate

Berlin, May 24, 2023. EV Digital Invest AG (ISIN: DE000A3DD6W5, hereinafter referred to as the “Company” or “Engel & Völkers Digital Invest”), operator of the online real estate investment platform "Engel & Völkers Digital Invest", achieves an EBIT of-3.3 million euros for the full year 2022. This is slightly better than the current analysts' estimate of an EBIT of -3.8 million euros. EBIT adjusted for costs and accounting-related non-recurring income in connection with the IPO amounts to -1.2 million euros for the financial year 2022. This is significantly better than the company's expectation of -1.7 million euros communicated in August 2022. The main reason for the positive development is the strategy adjustment in August 2022, which focuses on a cost-reduced and risk-averse business development. Total operating income (revenue and other operating income reduced by one-off special effects of the IPO) amounts to 5.7 million euros for the full year 2022 and is thus in line with the company's expectations.

Against the background of the increasingly challenging market environment, the Management Board of EV Digital Invest AG is not providing any concrete forecast for the current financial year 2023 and for the following years but assumes that both the total operating income (sales and other operating income reduced by one-time special effects) as well as the earnings will be well below the current analyst estimate. Total operating income is expected to decline by a mid-double-digit percentage compared to fiscal year 2022. This is due to the decision to position the risk strategy even more restrictive in this market phase. Costs are expected to be in line with 2022 costs to provide the foundation for inorganic growth and product expansion and thus emerge stronger from the difficult market situation. The analysts' forecast assumes sales of 7.8 million euros and an EBITDA of -0.7 million euros for fiscal year 2023.

ENGEL&VÖLKERS DIGITAL INVEST
EV Digital Invest AG
Licensed partner of Engel & Völkers Marken GmbH & Co. KG
Joachimsthaler Str. 12
10719 Berlin
www.ev-digitalinvest.de

Contact:
Kirchhoff Consult, Jan Hutterer
Borselstraße 20, 22765 Hamburg
Phone: +49 40 60 91 86 65
E-mail: [email protected]