Business
Exxe Group Outlines Vision and Future Revenue, Business Targets
Exxe Group Outlines Vision and Future Revenue, Business Targets.
About this update from Exxe Group Inc.
[{"type":"text","content":"Exxe targeting $100M in annual revenue, 15%+ net margins by fiscal year-end 2024Company model seeks to digitize and tokenize business lines across the Exxe familyExxe to pursue single business audit prior to first public company spin-offNEW YORK, NY / ACCESSWIRE / November 29, 2021 / Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company") a diversified fintech company, is pleased to announce the Company's vision, business and financial targets, and upcoming milestones.Financial ObjectivesExxe has enjoyed substantial revenue and shareholder's equity growth since the beginning of fiscal 2020, despite the extended COVID-19 crisis. In the past two years, revenue has jumped from $3.8M to $24.3M for the first six months of 2020 through the first six months of 2022, a more than five-fold rise. During this period, net income has leaped from roughly $259,000 for the first six months of fiscal 2Q20 to $4.7M for the corresponding period in fiscal 2022. Shareholder's equity has increased from $116.2M to $156.5M, a 34.6% jump.Based on the success of our private equity approach, management seeks to record revenue of $49M-$53M in revenue for fiscal 2022E with 15-20% net margins. Given the planned evolution of our business model going forward, we are targeting $100M in revenue and $20M in net income for fiscal 2024, ending in March 2023. In addition, we seek to accelerate the value of our shareholder's equity via public company spin-offs of outperforming assets, the sale of underperforming assets, and the addition of new acquisitions.Corporate Roadmap and VisionDr. Eduard Nazmiev, Exxe Group Chairman commented on the Company's vision. "Since inception, Exxe Group has executed around two dozen deals and LOIs for majority-stake acquisitions in global businesses representing fixed assets and operating businesses in industries across the spectrum. Exxe's recent successes have been driven by the successful migration and conversion to new digital strategies for our businesses, including bricks and mortar, which optimize the supply chain and execution. This approach has proven to lead us toward consistently high growth rates.""Going forward, we plan to apply the same models to the entire Exxe family and integrate our leading products/services/strategies into across Exxe businesses. This approach will provide us w...