Exxe Announces Revenue and EBITDA Updates for M-Moto
M-Moto increased annual revenue by 358% from $2.2 million in January 2020 to $10.01 million in January 2022
EBITDA increased by 301% from $0.88 million in January 2020 to $3.53 million in January 2022
M-Moto forecasts annualized revenue of $12 million by the end of calendar year 2022
NEW YORK, NY/ACCESSWIRE/May 18, 2022/ Exxe Group, Inc. (OTC PINK:AXXA), (“Exxe” or the “Company”) releases updates on the progress of its M-Moto operating business, formerly known as Mein Motors.
M-Moto is a specialist engine overhaul and repair shop acquired in February 2020 with annualized revenue of $2.2 million and EBITDA of $880,000. The company has forecast sales of about four times that baseline over a 36-48 month period while maintaining EBITDA margins of 35-40%.
Having proven its business model amid a pandemic-induced recession, Exxe Group reports that M-Moto’s sales and EBITDA targets were met in just 24 months. On a constant currency basis, revenue increased 358% to $10.01 million and EBITDA increased 301% to $3.53 million.
The implementation of digitization measures and a new customer relationship management (CRM) system has sustainably improved M-Moto’s cost structure as well as the scalability of the business model. The company’s accelerated growth targets annualized revenue of $12 million by the end of the calendar year.
With Europe fully reopened, M-Moto is seeking a wider market for its services. According to a study by RL Polk, the average vehicle age for M-Moto types of engine overhauls and repairs is 11.4 years. Expansion into countries such as France and Spain gives the company a total addressable market (TAM) of approximately 1 million engines per year.
Dr. Eduard Nazmiev, CEO of Exxe Group, said: “Since 2020, we have focused on digitization measures to help M-Moto weather the recession, this has exceeded our expectations. At the corporate level, Exxe Group plans to restructure the acquisition to achieve even better returns for our shareholders.”
M-Moto, formerly known as Mein Motors, provides engine overhaul and repair for more than a dozen popular and premium automotive brands, including BMW, Mercedes Benz, Audi, Porsche, and more. M-Moto has unique expertise in repairing the engines of supercars such as Bugatti, Lamborghini, Ferrari and others. The work is done to the same quality as an original engine and returned to the shop in the same time a replacement engine can be shipped, but at a fraction of the cost.
About the Exxe Group
Exxe Group is a diversified fintech company focused on acquisitions in the following sectors: private equity, real estate, sustainable technology and financial services. Exxe Group is an acquisition-driven company. The Company’s strategy is to acquire majority stakes in undervalued companies and play an active role in improving their performance – accelerating their growth by providing them with both access to capital and management expertise. .
For more information, please visit the company’s website
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