The stock market report of OXO Technologies Holding Plc for the first half of 2023 has been published. According to the report, the company’s business results show successful management, increasing profitability and dynamic growth of its assets under management. The Holding, which has been present on the domestic public market for two years now, has responded effectively to the economic challenges affecting the sector with an appropriate strategy. It has consolidated its position in the context of increased competition among industry players – paving the way for new issuance on other foreign public markets and a potential dividend payment next year.
In its recently published report, OXO Technologies Holding reported a positive pre-tax result of €1,092,018 for the first half of 2023, while its assets increased by €1.9 million to €16 million. The company has also indicated to its shareholders that, if it is able to maintain its operating results in the second half of 2023, it may be able to pay dividends to its shareholders in 2024 after the 2023 financial year.
During 2023, the company has based its business strategy on self-sustainability and the potential dividend payout to its investors, its increased ability to raise funds for further expansion and the investment opportunities that arise from favourable valuation conditions. It will therefore focus its investment activities on acquiring mature, self-sustaining and profitable acquisition targets, while maintaining its innovative early-stage investment activities by attracting additional funding. It plans to expand its growth-stage portfolio, primarily by acquiring new portfolio companies through share swaps, further potential capital raisings, and the issuance of new shares in return for the stakes acquired, until the end of 2023. This investment strategy will serve its safe management, maintain its liquidity, and implement its long-term plans. In the future, it will emphasize expanding its investor base internationally and preparing further fundraising in specialized equity funds and in the company itself, including through parallel new issuance on the foreign public market at a later stage. This is supported by the fact that the company has made the transition to IFRS in line with its objectives, and as a result, it always reports the value of its investments at fair market value and transfers the effects of this to its profit or loss. In this respect, valuations continue to be carried out, as has been the practice to date, with increased application of the principle of prudence, based primarily on historical and independent market transaction data for the holdings, taking into account the business plan performance of the individual portfolio companies. These evaluations have been carried out as of the opening date of the first half of 2023, the financial impact of which has been transferred to the company’s retained earnings, closing the first half of 2023 with a result of approximately EUR 1 million and a further positive retained earnings of EUR 819 281. This should also provide an opportunity to realize the dividend payment provisionally forecast for 2024.