Business
Exxe Announces Revenue and EBITDA Updates For M-Moto
Exxe Announces Revenue and EBITDA Updates For M-Moto.
About this update from Exxe Group Inc.
[{"type":"text","content":"M-Moto has grown annual revenue by 358% from $2.2 million in January 2020 to $10.01 million in January 2022EBITDA has grown by 301% from $0.88 million in January 2020 to $3.53 million in January 2022M-Moto anticipates $12 million annualized revenue by calendar year-end 2022NEW YORK, NY / ACCESSWIRE / May 18, 2022 / Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company") releases progress updates for its M-Moto, formerly known as Mein Motors, operating business.M-Moto is a specialist engine overhaul and repair shop acquired in February 2020 with then-annualized revenue of $2.2 million and EBITDA of $880,000. The Company projected sales of approximately four times this base level over a 36-48 month period while maintaining 35-40% EBITDA margins.Having proven its business model in the midst of a pandemic-induced recession, Exxe Group reports that M-Moto sales and EBITDA goals were reached in just 24 months. On a constant currency basis, revenues increased by 358% to $10.01 million and EBITDA increased by 301% to $3.53 million.Implementation of digitization measures and a new Customer Relationship Management (CRM) system sustainably improved M-Moto's cost structure as well as the scalability of the business model. The Company's accelerated growth targets annualized revenue of $12 million by calendar year-end.With Europe fully reopened M-Moto is seeking a broader market for its services. According to a study by RL Polk the average vehicle age for the types of engines M-Moto overhauls and repairs is 11.4 years old. Expansion into countries such as France and Spain gives the Company a Total Addressable Market (TAM) of about 1 million engines annually.Dr. Eduard Nazmiev, Exxe Group CEO, stated: "Since 2020 we focused on digitization measures to help recession-proof M-Moto, this has exceeded our expectations. At a corporate level, Exxe Group anticipates restructuring the acquisition to leverage even better returns for our shareholders."About M-MotoM-Moto, formerly known as Mein Motors, provides engine overhaul and repair for more than a dozen popular and high-end automotive brands including BMW, Mercedes Benz, Audi, Porsche, and more. M-Moto possesses unique expertise to repair engines for supercars such as Bugatti, Lamborghini, Ferrari, and others. Work is completed to the same quality as an original en...