Exxe Group Previews Major Quarterly Growth Generated by Lead Leading Performers
For the period ended December 2021, automotive line M MOTO recorded approximately $2.7 million in revenue, a 28% jump from the $2.1 million generated in the September 2021 quarter. In addition, EBIT rose by 15% to $1.5 million, as compared with $1.3 million. Product demand and higher customer prices led to the rise. DHE group, an auto parts supplier also enjoyed major growth in the period. Sales jumped to $905,000, up 40% from the $645,000 recorded in the September quarter. EBIT rose by 14% to $130,000, as compared with $103,000, sequentially.
M Meditec enjoyed a modest top-line increase from $1.4 million to $1.5 million. However, EBIT jumped by 56% to roughly $917,000 versus $583,000 in the September 2021 period. The sales mix, higher pricing, and greater efficiency were drivers on the operating side of M Meditec's business.
2022: Year of Metaverse for Exxe
The Exxe Group management team is committed to building a large presence in the Metaverse and monetizing this presence via the leverage of its key assets. This integrated vertical and horizontal approach includes Exxe's expertise in online design(daskonzept group ag), digital marketing(Market Media Connect), crypto payments(1Myle, Ltd), property acquisition/management(Myle-One Beteiligung, AG), and event promotion and production, such as fashion, music, and film festivals(Seven Horn). Exxe is entering a key phase for its Metaverse Initiative which will culminate in the launch of multiple and multi-level services. To that end, we are building out our calendar of upcoming online events which will initially be available for VIP participation. Exxe is unique in that it is currently a revenue generator via key service offerings in the physical world and appears well-positioned to generate revenue from similar services in the virtual market when the Metaverse enters its early adoption phase.
Dr. Eduard Nazmiev, Exxe Group Chairman, commented on the financial performance and the Metaverse Initiative. "We are very pleased with the impressive performance of some of our high profile business lines. Strong revenue and better-than-expected EBIT growth occurred on a sequential basis which demonstrates the high rate of execution of our diversified, integrated model. As with the previous quarter, we believe Exxe Group is on the path to consistently record major growth across our firm, not just these highlighted units. Our detailed quarterly financial results will be published in February and we look forward to sharing these figures with our investors. Separately, we continue to spend considerable effort on our Metaverse Initiative. We believe this marketplace will be a critical source of revenue and profit for the Company. Exxe is one of the few firms that can leverage multi-level services to propagate our brand and our businesses. We look forward to a series of announcements and events regarding our execution in this online world and combining it with our real-world businesses in 2022 and beyond."
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