Revenues to continue rising steadily in 2019
The IGP Advantag Group was able to maintain the trend of increasing its trading volume and group turnover.
IGP Advantag AG (ISIN: DE000A1EWVR2, WKN: A1EWVR), based in Geldern in the Lower Rhine region, was founded in 2009 as an independent trading house for CO2 emission rights under the name Advantag GmbH. Another sustainable business area is the activity as one of only 15 accredited microfinance institutions (MFIs) in Germany, which is carried out by the subsidiary Auximio AG. On 31 October 2019, the Annual General Meeting resolved to change the name to IGP Advantag AG and to expand its business activities to include the acquisition, management, development and sale of developed and undeveloped land.
In the 2019 fiscal year, the company succeeded in trading once again more certificates than in the previous year, which also resulted in a positive development in revenues. In this context, Management Board member Raik Oliver Heinzelmann was able to identify higher demand from existing and new customers, as the free allocation for 2019 continued to fall linearly.
In the 2019 financial year, consolidated revenues increased by 19% year-on-year by EUR 1,450,566.55 to a total of EUR 9,020,690.04 (previous year: EUR 7,570,123.49). Even though the increase in turnover was not as strong as in 2018 compared to 2017, Heinzelmann’s Board of Management sees this as a confirmation of the positive trend.
In the past fiscal year, the operating subsidiary Advantag Services GmbH traded a total of 547,253 (PY: 481,334) emission certificates, which corresponds to an increase of 14%. In detail, 458,694 EUA* (previous year: 438,394)), 80,081 CER* (previous year: 41,381), 7,813 VER* (previous year: 1,559) and 665 HKN* (previous year: 0) were traded. VER are voluntary compensation certificates issued by companies and private individuals. A total of 58 microloans (previous year: 52) were granted in the past financial year, representing a slight increase of 12%. The total loan volume of the past financial year increased by 22% to TEUR 539 (PY: TEUR 443). To date, Auximio AG has already processed almost three million euros in microloans. The average volume per microloan in 2019 increased by 9% from EUR 8,519 to EUR 9,293.
The IGP Advantag Group is currently working on the preparation of the individual financial statements as well as the consolidated financial statements for the 2019 financial year. The annual audit will begin in February, which is why the publication of the audited consolidated financial statements and the individual financial statements is planned for March 2020.
Tomorrow the extraordinary general meeting of IGP Advantag AG will take place, which will pass a resolution on a capital increase against contributions in kind and cash. At this meeting IGP Ingenieur AG, Berlin, as well as IGP Projekt GmbH, also Berlin, shall be contributed to IGP Advantag AG as a contribution in kind of 100% each and the share capital shall be increased by EUR 26,446,280.00 by issuing 26,446,280 shares with a nominal value of EUR 1.00 each. Based on this, a resolution will be passed on a subsequent cash capital increase with exclusion of the subscription right of the participants in the capital increase in kind in the amount of 5,940,375 shares. Both capital measures have an issue price of EUR 1.21 per share. The Management Board considers the capital measures to be resolved tomorrow to be a sensible opportunity to expand the business segment and to stabilise the financial situation of the company.
* EUA (EU Emission Allowances, European Allowances), CER (certified emission reductions in accordance with the Kyoto Protocol), VER (Verified Emission Reduction/ certificates for voluntary compensation), HKN Guarantees of Origin for green electricity).