Ad hoc announcement pursuant to art. 53 LR
September 28, 2023, Basel, Switzerland – Youngtimers AG, a Swiss-holding company that since its exit from the cars & collectibles space in 2022 continues to look for a suitable acquisition target, reports its interim financial results for 2023. The company has made a net profit of TCHF 250 in the first six months of 2023 (on zero operating revenue), compared to TCHF 793 operating revenue and an operating profit of TCHF 574 for the same period in 2022.
Youngtimers AG has had no operating activity since the end of last year and is currently searching for a new strategic acquisition while actively managing its portfolio of tactical investments. As of 30 June 2023, Company-held investments in listed securities were valued at CHF 6’662’977 and realized a gain of CHF 1’186’972 from trades completed in the first six months of the year. Youngtimers AG is debt free.
“Given rising interest rates, a worsening economic outlook, and a lack of visibility for the end of war on the European continent, our board is taking time to identify an optimal acquisition opportunity. Today, we are seeing more deals with much larger and better-established companies compared to the same period of last year, and the quality of our potential deal flow makes us comfortable that Youngtimers will pull the trigger on a high-quality acquisition of an operating business in the near future” commented Norman Hansen, Chairman of Youngtimers AG.
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About
Youngtimers AG is a Swiss-listed investment Company specialized on media and creative industries. Youngtimers AG is listed in Switzerland (symbol YTME on SIX Swiss Exchange) and headquartered in Basel, for more information please refer to www.youngtimers.com.
Contact
Youngtimers AG
Elisabethenstrasse, 18, 4051, Basel
Investor Relations Email: ir@youngtimers.com
Web: ir.youngtimers.com
