news - The SiLLC Assembly

Coinbase Global Inc Reports Narrower Q1 Loss as Investors Regain Confidence in Cryptocurrencies

May 4, 2023 [crocon media – msch] – Cryptocurrency exchange Coinbase Global Inc (Nasdaq: COIN) reported a smaller first-quarter loss on Thursday, indicating a cautious return of investors to the volatile asset class as they seek to hedge against worsening economic conditions. Coinbase’s shares, which had plummeted by 85% in 2022, have rebounded by 40% this year as cryptocurrencies start to regain ground.

The San Francisco-based company saw its net loss decrease to $79 million in the three months ending March, compared to a $430 million loss in the same period last year. This news prompted a 3% increase in Coinbase’s shares during extended trading.

Investors have been gradually returning to the speculative asset class as concerns grow over a potential recession and a crisis of confidence in the banking sector. However, trading volumes for the cryptocurrency exchange have more than halved to $145 million, suggesting that a full reversal is yet to materialize into significant gains for the company.

Despite the challenges, the narrowing of Coinbase’s Q1 loss reflects a growing optimism in the cryptocurrency market. As economic uncertainties persist, investors may continue to seek alternative investment options like cryptocurrencies, potentially providing further support for companies like Coinbase.

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Disclaimer
All transactions are carried out by The SiLLC Assembly, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions, and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relate to The SiLLC Assembly International.

Ballard Power Systems Q1 2023 Financial Performance: A Mixed Bag Amid Hydrogen Market Growth

May 10, 2023 [crocon media – msch] – Ballard Power Systems, a leader in hydrogen fuel cell technology, recently announced its Q1 2023 financial results, showcasing a mixed performance with both promising and challenging aspects.

Positive Developments

On the positive side, Ballard reported a healthy order intake of $17.6 million, surpassing their quarterly revenue. This promising trend suggests potential growth in the future. The company also boasts a significant order backlog of $137.7 million, twice the amount reported a year ago, reflecting an increase in customer platform wins and a promising outlook for the second half of 2023.

Furthermore, Ballard ended the quarter with a sizeable cash reserve of $863.8 million, providing a measure of financial stability in a volatile market. The company’s 12-month order book also demonstrated robust growth, increasing by approximately 29% quarter over quarter. This increase offers a positive outlook for the company’s near-term revenue growth.

Significantly, Ballard has outlined plans to invest in their business ahead of the hydrogen growth curve, a strategy that could position them for increased market share and long-term profitability.

Areas of Concern

Despite the positive indicators, Ballard’s Q1 2023 financials also revealed some areas of concern. Total revenue for the quarter came in at $13.3 million, representing a 37% year-over-year decrease, indicating a considerable slowdown in sales. Revenue decreases were reported across all segments, including Heavy Duty Mobility, Stationary, and Emerging and Other Markets.

The company’s gross margin was significantly negative in Q1 2023, falling to negative 42%. This decrease was driven by a change in revenue mix, pricing strategy, and increased investment in manufacturing capacity, among other factors. Operating expenses and cash operating costs also rose, contributing to a worse adjusted EBITDA compared to Q1 2022.

Furthermore, Ballard’s cash reserves have decreased by 19% since Q1 2022, and cash used in operating activities has increased. The company also reported equity losses in JV & Associates. Despite the promising aspects related to order intake and backlog, Ballard has not provided revenue or net income guidance for 2023, possibly indicating uncertainty about future performance.

Conclusion

Ballard Power Systems’ Q1 2023 financial performance presents a mixed picture. While there are positive signs related to future orders and investment in growth, the company also faces challenges related to revenue decline and negative gross margin. How Ballard navigates these challenges and capitalizes on the opportunities will be key to its success in the rapidly evolving hydrogen fuel cell market.

Read the original press release for more details : https://www.newswire.ca/news-releases/ballard-reports-q1-2023-results-860042223.html

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Deutsche Rohstoff Group Starts 2023 with Strong Q1 Earnings and Increased Production

May 11, 2023 [crocon media – msch] – Deutsche Rohstoff Group has reported a strong start to 2023, with increased earnings and growth in oil and gas production. In Q1 2023, the company generated earnings of EUR 14.6 million, corresponding to EUR 2.86 per share, which is an improvement from the previous year’s EUR 12.8 million and EUR 2.36 per share. Key highlights include:

Revenue of EUR 42.7 million, a 50% increase from the previous year’s EUR 28.1 million
EBITDA at EUR 32.3 million, significantly higher than the previous year’s EUR 25.2 million
Operating cash flow of EUR 42.9 million, compared to EUR 6.8 million in the previous year
Oil and gas production growth of over 38%, amounting to 976,832 barrels of oil equivalent (BOE) and 477,191 barrels of oil (BO)
Net income from hedging transactions balanced, compared to EUR -10.5 million losses in the previous year
Equity ratio surpassing 40% for the first time since 2015

In the first quarter, the average realized oil price after hedges was USD 74.62/bbl, with WTI trading at an average of USD 75.93/bbl. The consolidated balance sheet reflects the positive results, with consolidated equity increasing to EUR 144.8 million at the end of Q1 2023 and the equity ratio reaching 40.2%.

Cash flow from operating activities amounted to EUR 42.9 million, while cash flow from investing activities reached EUR 37.6 million. The company expects a significant increase in production volumes in the second half of the year, particularly with the start of production from ten wells in a joint venture with Oxy and three of 1876 Resources’ own wells.

For 2023, the company’s guidance projects revenues between EUR 150 and 170 million, EBITDA between EUR 115 and 130 million, and a clearly positive Group result.

Read the original press release for more details : https://rohstoff.de/en/eur-42-7-million-revenue-in-q1-2023/

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