K33 WKN: A1415N ISIN: SE0007614722 Kürzel: 869 Forum: Aktien User: Higgins
In 2021, there was a Swedish Twitter user who had gone through asset by asset in Arcane Crypto and concluded that a company with 1 million kroner in turnover was priced at 6 billion. Arcane was called a "hype" and a "köprek". "Today's value of the company is zero. (...) I would never buy this share," investment director Robert Næss told Finansavisen. Now Arcane Crypto has changed its name to Arcario, and unlike in 2021, the company has both strong growth and earnings. On Friday last week, the crypto company presented extremely strong quarterly figures. Turnover increased from SEK 38.6 million to SEK 151.7 million in the first quarter. In the previous quarter, the top line was SEK 56.4 million. In other words, revenues have risen by almost 300 per cent in one year. Went in plus Operating profit before depreciation and amortization (EBITDA) ended at SEK 4.2 million in the first quarter, compared to minus SEK 7 million in the same period last year. 5.5 million Swedish kroner remained at the very bottom of the accounts. - The first quarter was the first positive result in Arcario's history. It is nice. We used the tough years in crypto to realign ourselves and streamline operations, and now we reap from these measures with a strong team and good products in the market, says CEO Torbjørn - What measures have you taken? - We have merged several of the old portfolio companies such as Kaupang, Arcane Research and Arcane Assets, and brought them together under K33. The operation has become much more efficient and we have been able to increase the quality of the products. We now have clearly the best prices for buying and selling cryptocurrency in Norway. We are starting to win customers who notice that it is cheaper with us than with both Norwegian competitors and international players such as Coinbase and Kraken, says Jenssen.
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2 | Arcane Crypto Hauptdiskussion |
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