Berlin, 27th September 2024. 029 Group SE (ISIN: DE000A2LQ2D0), a global hospitality and lifestyle platform, announces the publication of its half-year report 2024. 029 Group SE reports a positive net result of EUR 703,212.44 for the first half of 2024, a significant improvement from the EUR -378,646.17 reported in the same period last year. The positive net result was primarily driven by the successful sale of the company's Emerald Stay investment.
Building on this financial success, the report also highlights significant achievements across the group's portfolio companies. Limestone Capital made notable strides, acquiring and successfully transforming a 55-room luxury hotel in Sardinia, which reopened as Aethos Sardinia. The company also advanced projects in Lisbon and Mallorca, while spearheading a €40 million Series A financing round for Myne Homes, Europe's leading managed co-ownership provider for premium vacation homes. In the hospitality tech sector, Hotelbird strengthened its market position in the German hospitality industry by acquiring new B2B clients and launching new guest communication features and premium services. Meanwhile, TRIP continued its impressive growth trajectory, solidifying its position as the 17th largest soft drink brand in the UK and achieving the fastest growth among the top 25 soft drinks in value sales.
Commenting on the results, our Managing Director Leon Sander states: “In the face of a challenging market and funding environment, our portfolio companies have demonstrated strong resilience and strategic progress in the first half of 2024. We remain cautiously optimistic and committed to sustainable growth, leveraging our operational strengths and prudent capital allocation to capitalize on opportunities in these dynamic times."
The 2024 half-year report are available on the 029 Group’s investor webpage, available at: https://www.029-group.com/investor-relations.
About 029 Group SE
029 Group SE believes that the next generation of consumer brands will be built on connection, experiences, and community. In a post-pandemic world, new patterns of work, life and leisure are emerging and accelerating. These trends create opportunities in hospitality and lifestyle for innovation-driven entrepreneurship with a strong community focus. 029 Group backs the most audacious entrepreneurs with a hands-on investment approach, focusing on areas where they can add significant value through their platform, global network and company building expertise. 029 Group is based in Berlin, Germany.
Further Information: https://www.029-group.com/
029 Group SE
Neue Schönhauserstr. 3-5
10719 Berlin
E-Mail: ir@029-group.com
https://www.029-group.com/
