The company chooses to publish this preliminary result due to this strong increase in EBITDA and operating profit during the first quarter of 2024.
The background to the increase in earnings during the first quarter of 2024 is mainly increased income attributable to withdrawal fees (fees for transferring cryptocurrency from the platform) and transaction fees, linked to the strong price development of Bitcoin and other crypto-assets. The first quarter has historically been one of the stronger quarters on an annual basis affected by seasonality. The company's results are also strongly linked to the current market situation for crypto-assets, which will continue to apply and may lead to fluctuations in the company's results between quarters, in addition to seasonal variations. Seasonal variations, as well as the fact that both Q1 2023 and Q1 2024 were characterized by a strong crypto market, are the main reasons why the result for Q1 2024 differs significantly compared to Q4 2023 in particular.
The net turnover during the first quarter of 2024 amounted to approximately
The company's quarterly report for Q1 will be published on
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This information is such that
For more information, please contact
Viktoria Berglund Blohmé, Head of Finance, ir@safello.com
Certified Adviser
https://news.cision.com/safello/r/safello-publishes-reversed-profit-warning-after-significantly-increased-ebitda-and-operating-profit,c3962808
https://mb.cision.com/Main/20146/3962808/2738002.pdf
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