SANDPIPER Digital Payments AG announces annual data for 2021 | News

Sandpiper Digital Payments AG / Keywords: Annual results
SANDPIPER Digital Payments AG announces annual data for 2021

02/06/2022 / 18:00 CET / CEST
Publication of an ad hoc notice in accordance with Art. 16 of the CoR
The issuer / publisher is responsible for the content of the application.

SANDPIPER Digital Payments AG announces annual data for 2021

  • The sale of shares in the InterCard Group reduced the balance sheet to EUR 3.9 million (previous year: EUR 15.4 million).
  • Operating revenues decreased by 44.9% to EUR 16.1 million (previous year: EUR 29.2 million), mainly due to the deconsolidation of the InterCard Group
  • Operating result / EBIT (Swiss GAAP FER) drops to -0.5 million EUR (previous year: 0.4 million EUR)
  • NAV per share in accordance with the Swiss Code of Obligations (OR) in the amount of EUR 0.01 (previous year: EUR 0.00)

Gallen, June 2, 2022 – Sandpiper Digital Payments AG (BX Berne eXchange, ticker: SDP, www.sandpiper.ch, ISIN: CH0510341644) publishes annual financial statements for 2021 according to Swiss GAAP FER.

In the first half of 2021, the COVID-19 crisis continued. Consequently, sales in schools and universities remained low. In the first half of the year, the InterCard Group and IDpendant lagged last year’s sales by around EUR 1.2 million.

Ergonomics AG and e24 AG were not able to sufficiently improve the liquidity situation of the SANDPIPER Group. By selling the InterCard Group by netting open liabilities, SANDPIPER was able to write off almost completely in 2021. The transaction was additionally approved by the Annual General Meeting on June 25, 2021. While these sales resulted in a loss of EUR 0.1 million at the level of the consolidated financial statements, the recycling of goodwill strengthened the group’s equity by EUR 4.5 million.

Ergonomia AG bought 20% of the minority shares of e24 AG. Thanks to this, it is 100% again. E24 AG sold the car park business, achieving an annual profit of EUR 0.1 million. This sale further simplifies the structure. Ergonomia AG and e24 AG saw sales increase by 0.5 million euros. Profitability still falls short of expectations. Nevertheless, Ergonomia AG was also able to reduce its debt as planned and is generating the necessary cash flow on its own.

Equity attributable to SANDPIPER increased from EUR -4.1 million to EUR 0.1 million. This now also corresponds to total equity, as the InterCard Group has been sold and the remaining minority interest in e24 AG has been acquired. As mentioned, this positive development was achieved thanks to the sale of the InterCard Group and the recycling of goodwill. Equity was reduced by a loss of EUR 0.3 million.

Profitability improved compared to the previous year when the loss of EUR 2.7 million was still attributed to the shareholders of SANDPIPER. Even after adjusting for the effect of the Playpass sale of EUR -2.2 million, there would be a loss of EUR 0.5 million. This year, the loss was EUR 0.3 million, an improvement of EUR 0.2 million. This improvement took place despite the sale of the InterCard Group, which resulted in a loss of EUR 0.1 million. The improvement is due to Ergonomics AG and e24 AG, which managed to improve their profits by 0.4 million euros. This improvement includes the sale of parking operations and the purchase of minority interests.

In line with the Swiss Code of Commitments (OR), SANDPIPER made an annual profit of EUR 2.3 million in its statutory separate financial statements for 2021 (last year’s loss of EUR 3.1 million). As a result, equity increased to EUR 3.2 million (previous year: EUR 0.8 million). With approximately 208 million registered shares outstanding, NAV according to OR was EUR 0.01 at the reporting date (previous year EUR 0.00).

Further events and forecasts

Following the sale of the InterCard Group and the e24 AG parking business, sales will be significantly lower in the coming year. Management expects the group’s sales to be around EUR 5 million in 2022.

SANDPIPER still has a balance of approximately EUR 0.1 million from the Payment Solutions Group bankruptcy estate. The exact amount of this claim cannot yet be determined as the bankruptcy proceedings have not yet been completed. The end of the bankruptcy proceedings and the corresponding final payment are expected in 2024.

In 2022, SANDPIPER took out a loan of CHF 0.2 million to provide short-term operating liquidity. The company’s management board and creditors managed to reach an agreement.

The company is still trying to complete a deal similar to that of Raffles. In this context, SANDPIPER is in discussions with various target companies and investment firms interested in collaborating with SANDPIPER. Such cooperation is still planned in 2022.

About SANDPIPER Digital Payments AG

SANDPIPER Digital Payments AG is a listed holding company that focuses on innovative digital and mobile payment systems as well as security services and technologies. SANDPIPER is the sole shareholder of Ergonomics AG.

Contact person

Dr. Felix Exner
fe@mountain.partners
+41 79 840 73 88

Website: www.sandpiper.ch

End of ad hoc announcement

German

Business:

Sandpiper Digital Payments AG
Poststraße 17
9001 St. Gallen
Switzerland

Telephone: +41 44 783 80 30

E-mail: news@sandpiper.ch

Internet: www.sandpiper.ch

ISIN: CH0510341644

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