CALVERT INTERNATIONAL AG PUBLISHES CONSOLIDATED FINANCIAL STATEMENTS

FOR FISCAL YEAR 2023

• Again increased positive result due to effective cost management, despite decline in sales
• Optimistic outlook - strategic realignment in 2024

Frankfurt am Main, July 19, 2024 - Calvert International AG ("CIAG"; ISIN DE000A0JK2A8), today disclosed its consolidated financial statements for the fiscal year 2023. CIAG generated a consolidated revenue of EUR 2.1 million compared to EUR 3,6 million in 2022. This reduction is mainly due to the fact, that some contracts with major clients expired and could not fully replaced by acquiring new customers. The response to lower revenues across various industries combined with shifts in consumer behavior and preferences for us is to diversify our offerings to better adapt to these changes.

EFFECTIVE COST MANAGEMENT

However, thanks to the company's restrictive cost policy, the decline in consolidated sales was nearly offset in earnings. EBITDA for the Group amounts to EUR 0.208 million in fiscal 2023 (2022: EUR 0.274 million). The positive result for the year 2023 is EUR 0.244 million (2022: EUR 0.162 million).

At the end of 2023, total assets are EUR 4.887 million, a slight decrease of 2.5% (EUR 5.011 million end of 2022). Total equity as of 31 December 2023 is EUR 2.974 million, which nearly equals the number shown end of fiscal 2022 (EUR 2.978 million).

OUTLOOK: STRATEGIC REALIGNMENT AND GROWTH

CIAG has established itself as a robust management holding company with a strong deal pipeline and is poised for significant achievements in 2024. With a strategic focus on the African energy sector, CIAG is actively pursuing opportunities in carbon capture, recycling and off-grid energy solutions. The increasing global emphasis on sustainable and renewable energy sources positions CIAG to capitalize on the growth potential of these sectors.

A key milestone for CIAG was the acquisition of Emerging Energy Corporation (EEC) at the beginning of the year 2024, marking the first step in building a successful management holding company. This acquisition has significantly expanded CIAG's portfolio and underscores its commitment to investing in profitable and innovative energy solutions.

Looking ahead to 2024, CIAG is in negotiations with several promising renewable energy companies. These efforts reflect CIAG's strategic intent not only to grow its investment portfolio, but also to drive the adoption of green technologies in Africa. By focusing on high-potential sectors, CIAG aims to promote sustainable development and generate strong financial returns.

The Centurion Law Group (CLG) subsidiaries in South Africa and Mauritius will continue to provide specialized advisory services while focusing on expanding their brand in the European market. 

About CIAG

Calvert International AG (CIAG) is an investment holding company focused on the African energy sector and headquartered in Frankfurt am Main, Germany. CIAG's shares are listed on the Düsseldorf Stock Exchange. CIAG currently operates as the management holding company of its subsidiaries Centurion Law Group in South Africa and Mauritius, providing mainly growth capital, management services and strategic advice to its subsidiaries. Centurion Law Group provides comprehensive professional services, in particular legal advice in all African jurisdictions around market entry and pan-African expansion strategies for private and public sector companies, with a focus on the African energy sector.

Contact for investor relations and press inquiries:

Calvert International AG

Maximilian Fischer, Investor Relations

Opernplatz 14, 60313 Frankfurt am Main, Germany T: 42