Planned sales are postponed to 2023

Munich, December 23, 2022. Some of the sales from the fintech company Rubean (ISIN: DE0005120802, WKN: 512080) that were forecasted for the current year will be now realized in the coming year. Based on Rubean's annual financial statements for the first nine months of the current year 2022, the Executive Board calculated the sales from the current and processed figures at the end of the third quarter of 2022 and a corresponding extrapolation after evaluating the current order situation for the fourth quarter of 2022 of EUR 0.8 million instead of EUR 2.0 million. This means an increase in sales of around 25% in 2022 compared to the previous year.

Due to the delayed start of the sale and to finance the company, the Management Board is therefore planning a financing measure for this autumn, in which the necessary liquid funds can be provided both through equity capital and through borrowed capital. The Management Board will examine various alternatives in the interest of the company.

The reason for the delay in the recurring revenues expected in 2022 is the need to adapt the software for corporate customer business and the delayed conclusion of contracts with acquiring partners. The company had already concluded contracts with large corporate customers such as the German savings bank group, the major Spanish bank BBVA and the payment service provider Global Payments in 2020/2021. In addition to delivery services in the Czech Republic and Spain, a large aid organization in Great Britain was also won as a customer in the current financial year.

With regard to the order backlog, the Executive Board assumes that sales will develop positively.