• Further strategic acquisitions close to completion
• Financial key figures 2019 and forecast 2020 to be published at the end of April
Berlin, 19 March 2020. THE SOCIAL CHAIN AG (WKN: A1YC99) will grow significantly in the first quarter of 2020. Compared to the previous year, the company expects a jump in sales of over 30 percent. Growth has accelerated in particular in recent weeks. Steven Bartlett, CEO of SOCIAL CHAIN AG says: "It’s been incredibly inspiring to see such monumental growth across the business in the first quarter of 2020. We’ve focused heavily on making our business operationally more efficient and commercially more effective and that’s paying dividends now. In March Social Media useage, viewership and engagement reached the highest we’ve seen it in a long time, and this has made our position as a company sat at the heart of the Social Media economy, more significant than ever before.”
The strategy of accelerating organic growth of SOCIAL CHAIN AG through targeted investments has been successful. Investments in strong own brands such as Solidmind and KoRo are paying off earlier than planned. Business in the food and health sectors is developing faster than average. KoRo focuses on the trend Superfood online. Solidmind is an already established supplier of food
supplements in the health sector. Bartlett announced further upcoming acquisitions: "Our goal is to further strengthen the international scalability of our business model and against this background, some restructuring will be carried out in the coming weeks. As leaders in social media brands, our focus is clearly on social media and social commerce but other areas are being put to the test.”
Before the end of April, SOCIAL CHAIN AG will issue a forecast for the first full business year. At the same time, the most important figures for the short fiscal year 2019 will be presented.