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PRESS RELEASE: Bitcoin Group SE publishes half-year report 2019 - strong development and implementation of key projects

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DGAP-News: Bitcoin Group SE / Key word(s): Half Year Results
Bitcoin Group SE publishes half-year report 2019 - strong development and
implementation of key projects

2019-09-30 / 12:15
The issuer is solely responsible for the content of this announcement.

*Bitcoin Group SE publishes half-year report 2019 - strong development and
implementation of key projects*

- *EBIT amounts to TEUR 4,228 (previous year: TEUR 4,874)*

- *Number of users on trading platform increases to 808,000*

- *Implementation of key projects for broadening the business model*

- *Forecast for 2019 financial year confirmed*

Herford, September 30, 2019 - Bitcoin Group SE (ISIN DE000A1TNV91 [1]) today
published its figures for the first half-year 2019. Turnover amounted to
TEUR 2,455 in the reporting period, compared to TEUR 8,348 in the first half
of 2018. Within the framework of a Bitcoin market that was quoted sideways,
especially at the start of 2019 - and therefore accompanied by a decline in
press attention - the corresponding trading revenues stagnated. During the
reporting period, however, there were clear signs of recovery on the crypto
currency markets, which led to stronger prices and, as a result, strong
upward movements. The Bitcoin share price rose from EUR 3,257.05 at the end
of December 2018 to EUR 9,992.17 at the end of the first half of 2019.
Bitcoin Group SE generated earnings before interest and taxes (EBIT) of TEUR
4,228 in the first half of 2019 after TEUR 4,874 in the same period of the
previous year. Earnings before interest, taxes, depreciation and
amortization (EBITDA) amounted to TEUR 1,231 compared to TEUR 7,563 in the
first half of 2018. Bitcoin Group SE implemented the recommendation of the
IFRS Interpretations Committee with the publication of the Annual Report
2018, according to which crypto currency holdings must be shown under fixed
assets instead of current assets and changes in value, therefore, also
affect the income statement through write-ups and write-downs.

The dynamic increase of the Bitcoin share price resulted in a further growth
of customer numbers on Bitcoin.de. At the end of the first half of 2018,
753,000 customers were still using the extensive services of Bitcoin.de. By
the end of June 2019, 808,000 customers were using the site. The high
response from customers is also based on the continuous expansion of
usability and the range of services offered on the trading platform. Bitcoin
Group SE launched the Bitcoin.de app after the reporting period in
mid-August. Customers now have the option of using all the functionalities
of the browser solution on their smartphones. Regardless of whether it's
price enquiries, sales history or trades - with the Bitcoin.de app, users
always have a clear overview of their crypto currency investments. The
launch of the Bitcoin.de app is one of the key projects of Bitcoin Group SE
in 2019 to continue to diversify the business model and accelerate its
growth. The Group is impressively demonstrating its high level of competence
and speed in implementation.

This also includes the aim of developing Bitcoin.de into a crypto currency
marketplace with a multilateral approach. The Bitcoin Group SE has already
translated its words into actions in this area by the end of 2018. For
example, futurum bank GmbH (formerly Tremmel Wertpapierhandelsbank GmbH) was
acquired. The transaction was approved by the German Federal Financial
Supervisory Authority (BaFin) in July 2019. This means that, from now on, it
will be possible to issue own products in connection with crypto currencies,
carry out proprietary trading with crypto currencies and operate ATMs for
crypto currencies.

"We are satisfied with the business development in the first half of 2019.
It is totally in line with our expectations. The sustained recovery on the
crypto currency markets proves once again that Bitcoin and Co. have come to
stay, and acceptance is growing continuously. Combined with the measures we
have taken to diversify our business model; we will be able to accelerate
corporate growth. So, we look positively at the upcoming tasks and the
remaining business year 2019," says the Managing Director of Bitcoin Group
SE, Marco Bodewein.

Given the further expansion of the service portfolio and the continuing rise
in demand for crypto currencies, the management remains optimistic for the
2019 financial year and confirms its forecast. Concretely, the management
expects a turnover result that will build on the success of the second half
of 2018. Furthermore, a positive EBITDA is expected. Due to the reluctance
of market participants to invest in crypto currencies at the beginning of
2019, together with declining media interest, the management of Bitcoin
Group SE expects a slowdown in new customer acquisition and up to 850,000
registered users on Bitcoin.de in the 2019 financial year.

The English version of the Half-Year Report 2019 will be available in about
two weeks time, the German version can be downloaded as a PDF document from
www.bitcoingroup.com [2] in the Investor Relations section.

*About Bitcoin Group SE:*
Bitcoin Group SE is a holding company focusing on innovative and disruptive
business models and technologies in the areas of Cryptocurrency and
Blockchain. Bitcoin Group SE holds 100% of the shares in Bitcoin Deutschland
AG, which operates Germany's only regulated marketplace for the digital
currency Bitcoin, Bitcoin Cash, Bitcoin Gold and Ethereum under Bitcoin.de
and 50% of the shares in Sineus Financial Services GmbH, a financial
services provider supervised by BaFin. The Bitcoin Group SE also holds 100 %
of the shares in futurum bank GmbH (formerly Tremmel Wertpapierhandelsbank

Bitcoin Group SE is listed on the Primary Market of Dusseldorf Stock
Exchange and on all other German stock exchanges (ticker symbol: ADE, ISIN:
DE000A1TNV91, GSIN: A1TNV9). More information on Bitcoin Group SE can be
found at www.bitcoingroup.com [3]

*About Bitcoin.de:*
Bitcoin.de is a licensed Bitcoin marketplace in Germany and Europe's largest
Bitcoin marketplace with more than 800,000 customers. After more than 7.5
years of operation, Bitcoin.de has the reputation of being one of the most
secure Bitcoin marketplaces in the world. Since users do not transfer euros
to a trust account but pay conveniently from their bank account, the euros
used for trading are even deposit-backed. The cryptocurrencies managed by
Bitcoin.de, on the other hand, are held 98% in secure cold wallets.
Bitcoin.de is the first and only Bitcoin trading platform worldwide to have
its customer credit balances audited once a year by a publicly appointed
German auditing company (last audit as of 25 September 2018, next audit
planned for October 2019). The unique integration with a bank account of the
Fidor Bank via express trading allows trading to be carried out as quickly
as on a stock exchange. In addition to Bitcoin, on Bitcoin.de Ether (ETH),
Bitcoin Cash (BCH), Bitcoin Gold (BCG) and Bitcoin Satoshi Vision (BSV) can
be traded against Euro.

Bitcoin Group SE
Marco Bodewein
Nordstraße 14
32051 Herford
mail: ir2019@bitcoingroup.com
phone: +49.5221.69435.20
fax: +49.5221.69435.25
website: www.bitcoingroup.com [4]

*Investor Relations contact:*
CROSS ALLIANCE communication GmbH
Jens Jüttner
phone: +49.89.1250903-30
mail: jj@crossalliance.de
website: www.crossalliance.de [5]

2019-09-30 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Bitcoin Group SE
Nordstrasse 14
32051 Herford
Phone: +49.5221.69435.20
Fax: +49.5221.69435.25
E-mail: ir2019@bitcoingroup.com
Internet: www.bitcoingroup.com
Listed: Regulated Unofficial Market in Berlin, Dusseldorf
(Primärmarkt), Frankfurt, Hamburg, Hanover, Munich, Stuttgart,
Tradegate Exchange
EQS News ID: 882415

End of News DGAP News Service

882415 2019-09-30

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(END) Dow Jones Newswires

September 30, 2019 06:15 ET ( 10:15 GMT)

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