reports
- Christian Auzanneau
Preparing to strengthen the balance sheet
Preparing to strengthen the balance sheet FINANCING ISSUE MHM has announced that it will convene an EGM on 16 June 2024 to prepare for a normalisation of the balance sheet. A substantial adjustment to our target price is likely. FACT MHM is facing a cash shortage, and the auditors have issued a warning about the 2023 accounts. Equity injections are planned in the near future, including €1m in new cash. The AGM on 16 June will be used to prepare for the normalisation of the balance shee...
- Christian Auzanneau
Preliminary results for 2023. The App is moving forward.
Preliminary results for 2023. The App is moving forward. EARNINGS/SALES RELEASES MHM has given an update on the development of its Matching application. It has also published preliminary results for 2023 in line with our estimates. FACT MyAgency, the Concierge segment of MHM (MyAgency), will have generated €12m in revenue over 2023 and c€0.7m in EBIT. Work on the Matching application continues with successive upgrades. MHM expects to be ready by the end of 2024 to welcome an acceleration...
- Christian Auzanneau
Strong growth in H1 23, imminent launch of the App
Strong growth in H1 23, imminent launch of the App EARNINGS/SALES RELEASES MyAgency’s excellent financial performance has offset a large part of the investment required to prepare for the launch of the Matching application in a fortnight’s time. FACT MyAgency (luxury concierge services) reported a 37% increase in H1 23 sales. Operating profit was €-0.6m, stable year on year. The cash burn was limited to €1m, despite preparations for the launch of the Matching application. Cash flow befor...
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