Munich, 13 September 2024 - Mountain Alliance AG (MA, ISIN DE000A12UK08) today published its half-year financial statements for 2024 and the net asset value as of 30 June 2024. The half-year financial statements of Mountain Alliance AG were prepared in accordance with the provisions of the German Commercial Code (HGB) and the German Stock Corporation Act (AktG).
In the first half of 2024, Mountain Alliance AG generated revenue of € 61,761 in accordance with the German Commercial Code (HGB) compared to € 63,833 in the previous year. Earnings after taxes improved to € -506,783 after € -584,659 in the same period of the previous year. On a net basis, there was a loss of € -507,065 for the first half of 2024 after a loss of € -584,970 in the same period of the previous year. The improvement in earnings mainly reflects personnel changes within the company and the associated utilization of synergies in administrative functions within the Group.
The portfolio value as of 30 June 2024 was € 46.7 million, compared to € 47.5 million as of 31 December 2023. Considering the net financial liabilities of € 0.8 million, the net asset value (NAV) of Mountain Alliance AG as of 30 June 2024 was € 46.0 million, compared to € 45.7 million at the end of 2023. Based on 6,885,584 outstanding shares, this results in a NAV per share of € 6.67 as of 30 June 2024 compared to € 6.64 as of 31 December 2023.
"The adjustment of our cost base initiated in 2023 is already having an effect. At the same time, the portfolio continues to develop promisingly, with our largest investment Lingoda in particular showing dynamic growth. With the final exit at AlphaPet in May of this year, we have provided further proof of the extraordinary value creation in the venture capital business as a whole and in Mountain Alliance AG's business model in particular. We are confident that we will realize further lucrative exits in the foreseeable future," says Dr Hans Ulrich Tetzner, CEO of Mountain Alliance AG.
Net asset value calculation of the MA Group as of 30 June 2024
Portfolio value 46,7
Net financial liabilities 0.8
Net asset value (NAV) 46.0
NAV per share (in EUR) 6.67
One of the portfolio highlights of the first half of the year was the sale of the remaining stake in AlphaPet Ventures GmbH in May of this year after several partial exits in previous years. Mountain Alliance AG had been an investor in AlphaPet Ventures GmbH since 2017 and held a stake of just under 1.2 percent until the sale was finalized.
Mountain Alliance AG's largest and most important investment in terms of value, the online language learning platform Lingoda, continues to record dynamic growth. Following an increase in revenue to € 49.6 million in the 2023 financial year, Lingoda is expected to grow to more than € 70.0 million in the current year. This development is also reflected in a growing valuation of the 6.7 percent stake, which is now also ready for exit.
Mountain Alliance AG remains committed to its goal of expanding the portfolio in the medium term through organic growth and thus positioning it for further promising exits.
However, geopolitical uncertainties and the declining economic momentum in Europe and especially in Germany limit the accuracy of the forecast in terms of the time frame and reliable target figures.
The half-year financial statements for the first half of 2024 are available for download at www.mountain-alliance.de
