Rubean AG: Planned sales postponed until 2023

Munich, December 23, 2022. The revenues forecast by the fintech company Rubean AG, (ISIN: DE0005120802, WKN: 512080), Munich, in January for the current year are to be realised in part only in the coming financial year. Based on the financial statements of the Rubean companies presented today for the first nine months of the 2022 financial year, the Executive Board expects sales of €0.8 million instead of €2.0 million for the fourth quarter of the financial year on the basis of the currently available and prepared figures for the financial statements for the third quarter of 2022 and a corresponding projection after evaluating the current order situation. Nevertheless, this means an increase in turnover for the 2022 financial year of around 25% 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.

The Board

About Rubean: Rubean AG is a leading provider of pure software point-of-sale solutions for banks, acquirers and merchants. In its nearly twenty-year history, Rubean has developed innovative solutions for the payments, finance and banking industries. This includes the PhonePOS mobile point-of-sale terminal solution, which was developed in collaboration with CCV. In addition to its headquarters in Munich, Rubean has offices in Hamburg, London, Tel Aviv and Tbilisi. Rubean is listed on the m:access of the Munich Stock Exchange as well as on the over-the-counter markets in Frankfurt, Berlin and Düsseldorf and on Tradegate and Quotrix.