UMT AG Reports 2024 Half-Year Results: Navigating Turbulent Waters

München - UMT United Mobility Technology AG has recently published its half-year report for 2024, revealing a significant transformation in both its offerings and financial health. In the first half of 2024, the company reported a total sales performance of €58,000, a noticeable decline compared to the previous year’s €97,000. Furthermore, their gross profit fell by €40, landing at €57,000 against €97,000 in the prior year. The operating earnings before interest and taxes (EBIT) dropped to -€408,000, worsening from -€263,000 in the same period last year. The pre-tax result (EBT) also saw a decline to -€556,000 from -€229,000 last year, culminating in a net loss of €556,000 as of June 30, 2024, compared to a net loss of €251,000 for the same period last year.

Financial Overview of UMT AG

In light of the financial challenges, Erik Nagel, CEO of UMT AG, highlighted that the company is emerging from a prolonged period of decline. According to him, UMT AG is in a “turnaround phase”, focusing on enhancing its own product portfolio and strengthening its sales operations. “We are working tirelessly to significantly expand our operational business while maintaining a comparatively low operational cost level,” Nagel stated. Additionally, a convertible bond placement is anticipated to boost marketing and sales efforts, ultimately aiming for customer acquisition and revenue generation. He metaphorically compared the company’s trajectory to that of an airplane, indicating that after a “long descent, we are now in the takeoff phase, and achieving altitude is our next objective.”

As UMT AG gears up for the future, it continues to establish itself as a key player in the European market for AI solutions in Document and Process Management. The flagship offering, UMTVision, employs a parallel and sequential combination of various AI models to automate all text-based processes across different industries, providing a level of flexibility rarely found in the market today. This innovation plays a crucial role in the automation of external document processing within internal workflows, functioning similarly to a virtual AI clerk. Examples of its applications include automated invoice verification against purchase orders, the streamlined handling of claims aligned with customer agreements, and fully autonomous processing of logistics transport orders.

UMT AG is also actively evaluating potential investments in companies that align with its core competencies. The goal is to position itself as a provider focusing on scalable and specialized IT and AI-based solutions aimed at enhancing business efficiency over the medium term. Promising discussions are currently underway to seek out financially stable companies with operational stability for potential partnerships.

Innovative Technology in Action

In addition to organic growth, UMT AG is targeting strategic acquisitions to enhance its customer base and technological capabilities. With over a decade of expertise in IT and consulting, the foundation for impactful investments is firmly established. The company aims to contribute to the digital transformation of small and medium enterprises through these endeavors.

The 2024 half-year report is publicly accessible on the company’s website under the Financial Reports section, offering a detailed insight into the company’s current financial stance and future aspirations.

UMT United Mobility Technology AG is distinguishing itself through the integration of tailored solutions in the domains of business process digitalization and automation. Their bespoke Payment Hub, AI, and blockchain solutions are propelling the company forward in the highly competitive Supply Chain Management landscape. By focusing on digital, scalable solutions for the B2B sector, UMT AG is setting a course for continued expansion and market leadership.

For investors and stakeholders, the share of UMT United Mobility Technology AG (WKN: A2YN70) is actively traded on the Frankfurt Stock Exchange, where it is listed in the Basic Board of Deutsche Börse AG. As UMT AG continues to navigate through its transitional phase, keen observers are looking forward to its strategic moves in the upcoming quarters that could reshape its business landscape.