Exxe Group's Motors Division Reports Sixth Consecutive Record Quarterly Revenue
---Combined revenue of $4,866,700 for the Sept 2022 period is a new quarterly record for M Moto Dhe
---First half of fiscal 2023 revenue and EBIT up 111.8% and 45% compared with first-half fiscal 2022
---Top-line growth led by M Moto automotive segment's B2B eCommerce tech platform success
---Additional markets, new technologies, and new geographies poised to drive future revenue growth
NEW YORK, NY / ACCESSWIRE / November 9, 2022 / Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company") a diversified fintech company, is pleased to announce that its motors division, led by M Moto, has generated record quarterly revenue for the period ended September 30, 2022. It should be noted that this performance marks the sixth consecutive quarter of record top-line growth for this division.
The division generated record quarterly revenue of $4,886,700 as compared with $2,753,837 for the same period a year ago, representing a 77.4% increase. The M Moto segment served as the sales driver, with the top line nearly doubling to the 95.6% level. Total EBIT of $1,611,112 was a healthy increase from the $1,433,814 recorded a year ago.
Combined revenue and EBIT from M Moto and the DHE segments rose sequentially on a quarterly basis led by M Moto's 21.5% jump in sales, which jumped from $3,399,401 to $4,125,700. Total fiscal first-half results were especially striking given that revenue of $9,651,332 and EBIT of $3,058,692 were a 111.8% and 45% rise from first fiscal results from last year. Since the division generated over $11.5 million in total revenue for the full year in fiscal 2022, or just $2 million more than this year's first-half results, management believes that the full-year revenue performance is poised to be substantially greater than prior results.
M Moto offers a scalable eCommerce platform for the placement of high-end engine repair orders to leading companies in the engine repair business in Europe, primarily Germany. Business is driven via orders from its large network of partner repairers and partner workshops and M Moto management also offers its partners expertise and professional skills. The company has enjoyed success due to its state-of-the-art technology platform, expertise in the industry, and swift product shipment/turnaround.
Going forward, management plans to add new capabilities via an enhanced CRM and offer its downstream partners new products such as catering to engine repair on trucks, classic cars, construction machinery, and others. In addition to building a new business from its existing downstream partners and adding new ones with these offerings, M Moto plans to enter new European markets as well, beginning in 2023. The total market opportunity in these verticals and products could be as large as $700 million.
Separately, the DHE segment, which is presently focused on the tires market is slated to enjoy a seasonal increase in business, now that the Fall/Winter periods have begun. Enhanced profitability could also be aided by plans to offer a broader set of products to its existing market and the leverage of potential cross-sale opportunities with M Moto, which will also be explored in 2023.
Future Exxe Group News
Exxe plans to publish full company quarterly financial results including all of the Exxe's business segments and industries next week. Management also plans to inform investors of its updated corporate roadmap, fintech platform, and technology tools positioning and related information in the coming weeks.
Dr. Eduard Nazmiev, Exxe Group CEO, commented on the motors division's strong financial performance and upcoming publications. "We are very pleased with the sixth consecutive quarter of record quarterly revenue results for our motors division led by M Moto and DHE. Solid EBIT performance also continues, as evidenced by the growth for the first half of the fiscal year as compared with last year. The entrance into new markets, products, and verticals should serve as continued growth drivers for these solid companies. As we continue to have success by emphasizing online B2B eCommerce platforms and technology-centric infrastructures, we look forward to solid transaction and business generation growth in future quarters. We look forward to providing our updated roadmap and positioning following our fiscal September 30th, 2022 results in just about one week."
About Exxe Group
Exxe Group is a diversified fintech corporation focusing on acquisitions in the following sectors: real estate, automotive, agribusiness, furniture and design, media and medical technology platforms. 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
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CONTACT: Exxe Group IR: [email protected]
SOURCE: Exxe Group
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