Valereum (VLRM) H1 2024 earnings summary

Executive summary

• Achieved significant progress in developing products and services for launch in H2 2024, including acquisition of GSX Group and partnerships with leading technology providers.

• Awarded a DASP licence in El Salvador to operate a regulated Real World Asset (RWA) ecosystem.

• Launched VLRM Capital Management VSA Private Fund Limited, with £1 million invested by the Chairman.

Financial highlights

• EBITDA improved to £873k in H1 2024 from a loss of £70k in H1 2023.

• Profit before tax of £322k in H1 2024, compared to a loss of £244k in H1 2023.

• Total assets increased to £5.2m from £1.8m year-over-year, mainly due to the revaluation of investments.

• Net cash increased by £116k in H1 2024, compared to a decrease of £87k in H1 2023.

• Net cash position of £47k at period end, versus net debt of £384k a year earlier.

Outlook and guidance

• Foundations laid for revenue generation from Q4 2024 and scaling into FY25 and beyond.

• Focus on scaling launched products and services during H2 2024 and into 2025.