- M-Moto has grown annual revenue by 358% from $2.2 million in January 2020 to $10.01 million in January 2022
- EBITDA has grown by 301% from $0.88 million in January 2020 to $3.53 million in January 2022
- M-Moto anticipates $12 million annualized revenue by calendar year-end 2022
NEW 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.'
M-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 engine and shipped back to the shop in the same amount of time as a replacement engine can be shipped, but at a fraction of the cost.
About Exxe Group
Exxe Group is a diversified fintech corporation focusing on acquisitions in the following sectors: private equity, real estate, sustainable technology, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise.
For additional information please visit the Company's
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'ongoing,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'will,' 'would,' or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties, and other factors that may cause our results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.
Exxe Group IR: email@example.com
SOURCE: Exxe Group
View source version on accesswire.com: