Earnings Release • Feb 22, 2022
Earnings Release
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Norwegian Block Exchange AS (NBX) – Financial results for the fourth quarter and full year 2021
Oslo 22 February 2022 – Norwegian Block Exchange AS (NBX), the first publicly listed crypto exchange in the Nordics, today released its report for the fourth quarter 2021 and preliminary full year figures for 2021.
“There is never a dull day in the crypto industry, and this quarter was no exception, with significant volatility in the crypto markets. However, while we manage short-term volatility in volumes and financials, we have a clear long-term strategy to build a solid and credible position in the crypto industry. At NBX we have focused on executing on our strategy to develop our product offering and market position in the Nordics. In the fourth quarter we added three new tokens, positioning NBX as the Nordic exchange with the widest range of crypto- and fiat currencies. We also launched our own staking operation with promising results after only two months of operation,” said CEO of NBX Stig Kjos-Mathisen, and continued:
“Our efforts yield good results, and in the fourth quarter the growth of unique NBX users was 116 percent.”
The total number of verified users was 18,000 at the end of Q4 2021, whereas registered users (customers that have registered on the platform with username and password) was approx. 50,000 at the end of 2021.
NBX had a trading volume of NOK 370 million in the fourth quarter, a growth of 441 percent compared to the fourth quarter 2020 and 25 percent compared to the third quarter 2021.
NBX operating income in Q4 2021 was NOK 2.4 million, compared with NOK 0.5 million in the same quarter 2020. In addition, the company had financial income of NOK 2.3 million, mainly from market-making and holding crypto related to this in a rising market. The net result in the fourth quarter 2021 was NOK -8.5 million, down from NOK -5.5 million in Q4 2020.
“We continue to drive long-term growth by investing in product development, technology and marketing, and our plan is to continue to do so. Recruitment of new talent is a substantial cost driver. In the fourth quarter it is also important to bear in mind that we had a one-off cost related to the IPO on Euronext Growth of around NOK 2 million and around 1 million of cost related to the application for an e-money license,” said Stig-Kjos Mathisen.
-ends-
Please find enclosed Norwegian Block Exchange’s Fourth quarter and full year report for 2021.
Contact persons:
Stig Kjos-Mathisen, CEO
Email: [email protected], Phone: +47 932 87 572
Torstein Thinn, CFO
Email: [email protected], Phone: +47 986 44 144
Liv Freihow, Director Communications and Public Affairs
Email: [email protected], Phone: +47 482 50 924
About NBX:
Truly Norwegian cryptocurrency exchange and custodian.
Based in Oslo and registered with the Financial Supervisory Authority of Norway,
Offers an easy and secure access to cryptocurrency for everyone, focusing on the Nordic markets, but open for customers globally
50,000 registered customers at the end of 2021
Trading volume of NOK 1,161 million during full year 2021
32 in 11 countries. Headquarters at Fornebu.
Largest shareholders: Observatoriet Invest AS (Bjørn Kjos, 31.8%), Sparebanken Øst (9.9%), Kistefos Investment AS (9.3%), Nye Km Aviatrix Invest AS (8.1%), Dasha Invest (5.0%) and MP Pensjon (4.7%)
This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Torstein Thinn on the time and date set out above.
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