Business
Exxe Group Reports Record Revenues and Profits for the Quarter Ending June 30, 2021
Exxe Group Reports Record Revenues and Profits for the Quarter Ending June 30, 2021.
About this update from Exxe Group Inc.
[{"type":"text","content":"Exxe reports record quarterly revenue of $11.02M and profits of $1.8M1Q2022 revenues increased 43% to $11.02M versus $7.68M in 1Q20211Q2021 revenue of $11.02M surpassed the record $10.2M Quarter in 4Q2021NEW YORK, NY / ACCESSWIRE / August 17, 2021 / Exxe Group, Inc. (OTC PINK:AXXA), a diversified fintech company, reports financial results for the Quarter ending June 30, 2021.Key Metrics 1Q2022 ($)1Q2021 ($)Percentage ChangeTotal Current Assets20,488,29114,309,10443.2Total Assets233,780,831200,958,07616.3Shareholder Equity150,432,624122,709,68222.6Quarterly Revenue11,022,7137,677,08043.6Quarterly Net Income / Loss1,831,875926,86097.6Performance SnapshotAXXA's quarterly revenues grew 43% in 1Q2022 to $11,022,713 as compared to $7,677,080 in the same period last year. Net income for 1Q2022 was $1,831,875 as compared to net income of $926,860 in the same period last year, an increase of 97.6%.AXXA generated $11,022,713 gross revenues in 4Q2021 surpassing the $10,176,590 record set in 4Q2021; a 8.3% sequential Quarter-over-Quarter growth.Gross revenue per share for 1Q2022 was $0.0196 as compared to $0.0172 in the same period last year, an increase of 14%.Total assets were $233,780,831 in 1Q2021 as compared to $200,958,076 in the same period last year, an increase of $32,822,755 or 16.3%.HighlightsExxe Group's Agribusiness revenue increased as commodity prices for corn, barley and wheat prices rose during the Company's First Quarter. World food prices in June 2021 as measured by the UN's Food and Agriculture Organization (FAO) Food Price Index was 124.6 as compared to 119.1 at the end of March. This is an increase of 4.6% during the Quarter.Exxe Group saw a slight downtick in automotive demand. AXXA's automotive segment reported Quarterly revenues of $1,842,895 as compared to $1,974,569 in 4Q2021. The change was primarily due to expected seasonal demand.MMeditech GmbH which sources and sells high-use consumables to the Swiss medical supply market reported Quarterly revenues of $998,454 as compared to $745,099 in 4Q2021.Eduard Nazmiev, Ph.D., CEO and President of Exxe Group commented: "Exxe Group saw a continued uptick in demand and revenues from our Swiss based businesses as their local markets continue to recover. We are pleased to report that Exxe ended 1Q2022 with record gross revenues of $11.02M and profits of $1.8M. The Comp...