Exceptional growth of 104.3% in the revenues of the companies in the portfolio of Webit Investment Network (BSE: WIN)

103.5 million leva revenues for 2023 compared to 50.7 million leva in 2022 are the consolidated revenues of the WIN companies.

Today, June 3, 2024, the publicly listed company on the Beam market of the Bulgarian Stock Exchange - Webit Investment Network (with stock ticker WIN) announced the consolidated revenues of the six companies in which it invests up to now.

The portfolio is extremely well diversified both geographically and in some of the fastest growing areas with companies based on artificial intelligence in sectors such as agriculture and food, sustainability, biotechnology, healthcare, education, entertainment and furnishings. Two of the companies are from the US, another 3 from Europe, including Israel, France and Ireland, and one is from the United Arab Emirates.

WIN's expectations for the companies in their portfolio over the next 4-7 years are to continue to grow sustainably in terms of revenue and profits, and to bring a return on investment of between 2 times and over 10 times. In 2023, one of the companies in the portfolio not only doubled its revenue, but is already generating a profit. The expectations are that by 2026 the remaining companies will also declare a profit and continue to grow. WIN has invested in and acquired stakes in two-thirds (⅔) of the companies in its portfolio in the last six months.

"We are the kind of investors who believe that we should focus on the value we create for founders and their companies (beyond the money we invest in them). How we help them raise capital, how we help them get media attention, how we help them reach strategic customers, how we help them develop their own growth engine. We are on the side of the founders and we work with and for them, but of course we only invest in the top 0.1% in the world. WIN has the right to invest in these amazing companies, thanks to Webit and its 17-year, global history.

We have been proving what we can do every day for the past 17 years, now it is time to increase the scale and attract more capital.

The decision to slow down our investment activity in 2022 and 2023 was important because we have the pulse of the global venture capital markets and can therefore make accurate analyses. Two years ago, the market was not far from its peak and the free money for investments was almost twice as much. This made the valuations of the companies also up to twice as high. In practice, the fact that we made our investments in four out of six companies with a year and a half delay allowed us to purchase up to 1.5 times more shares in some of the companies in our portfolio today, which means that we have managed to increase our shareholders' money with these transactions," said Dr. Plamen Rusev on the occasion of WIN's high investment activity in the last six months. " Our expectations are that the market may be close to a bottom, after which the valuations will start to rise again, and that is why we have focused our efforts on investing in some of the most promising early-growth companies in the world. We have already almost exhausted the resource in WIN and are starting to plan a capital increase to continue investing in the top companies that reach the finals of Webit's Founders Games in Davos and represent the best - less than 0.1% of all participants in the global competition. Their growth and our 100% increase in revenue in 1 year prove the good selection." added Rusev.