June 2, 2024 [crocon media – msc] Arcario has commenced 2024 with a remarkable financial upswing, marking a period of significant transition and expansion. In the first quarter, the company notched a stellar rise in net sales to SEK 148 million, a whopping 260% increase over the previous quarter. This growth is a testament to Arcario’s robust organic expansion within its K33 Markets, a key player in the cryptocurrency and digital asset sphere.
Net profit and positive cash flow were also notable achievements this quarter, with EBITDA soaring to SEK 4,189K. This is a dramatic turnaround from the previous year’s losses, driven largely by the strategic inclusion of Vanir Finance AS into the consolidated group accounts from the outset of 2024.
Arcario’s strategic maneuvers, including the acquisition of Vanir Finance AS and the expansion of K33’s crypto trading capabilities with seven new tokens, have positioned the company at the forefront of the rapidly evolving digital asset market. Additionally, the sale of an 11% stake in ITOAM SAS for USD 1.9M highlights Arcario’s ability to capitalize on its investments effectively.
Moving beyond the numbers, CEO Torbjørn Bull Jenssen’s optimism about the future reflects a broader sentiment in the market—a burgeoning bull market that promises further growth and innovation. Arcario’s aggressive cost reductions in crypto trading, outperforming major global exchanges, underscore its competitive edge and readiness to lead in a high-stakes environment.
As Arcario postpones its AGM to June 28 and reconciles discrepancies in its Q4 2023 reports, the firm remains a significant entity in the digital asset space, committed to reshaping the future of finance.
Read the press release : https://www.arcario.com/ir/article?slug=arcario-publishes-interim-report-for-q1-2024
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