Cogia AG: Cogia reports positive EBITDA of €350,850 in the first half of 2024 after restructuring and cost reduction measures
Cogia AG (WKN A3H 222 / ISIN DE000A3H2226), a leading provider of secure communication, big data analytics and artificial intelligence (AI) technologies, today announced a positive EBITDA of €350,850 for the first half of 2024, demonstrating its resilience and strategic management in a challenging economic environment. This positive result follows the implementation of a comprehensive restructuring programme. The company took strategic cost-cutting measures in all business areas, including a significant reduction in personnel costs. These efforts led to a 70% reduction in operating costs excluding depreciation and amortisation compared to the previous year.
This strategic change was accompanied by a reorganisation of Cogia's business activities. Following the successful sale of the secure messenger app Socializer Messenger to VCIG, Cogia has fully acquired Elastic.io, a leading provider of integration platforms. This acquisition strengthens Cogia's position in the enterprise AI and data integration market and is an important part of the company's long-term growth strategy.
In addition, Cogia continues to invest in AI-driven innovation, building on its 2023 advances in generative AI. The company plans to launch an AI assistant for its secure messenger platform with the aim of improving the user experience and creating new revenue opportunities.
Outlook for the second half of 2024: Looking ahead, Cogia will focus primarily on expanding Elastic.io's operations and leveraging Cogia's AI-powered solutions to drive growth in the enterprise market. The company will remain committed to developing and deploying cutting-edge technologies that enable organisations to navigate the evolving digital landscape.
About Cogia AG: Cogia AG is a leading German provider of secure communication, big data analytics and AI technologies. The company offers products and solutions that enable companies, authorities and organisations to effectively use available information for improved decision-making and secure communication.
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