Mountain Alliance AG publishes annual financial statements 2025 – significant NAV growth expected for 2026

• Net Asset Value (NAV) at EUR 40.4 million (31 December 2024: EUR 42.5 million) or EUR 5.33 per share (31 December 2024: EUR 6.17)
• Successful completion of a capital increase
• Promising investments in the defence sector successfully implemented
• Significant increase in value anticipated for defence investment Destinus

Munich, 27 May 2026 – Mountain Alliance AG (MA, ISIN DE000A12UK08) today published its annual financial statements 2025, prepared in accordance with the German Commercial Code (HGB) and the German Stock Corporation Act (AktG), as well as the net asset value as at 31 December 2025. In the financial year 2025, Mountain Alliance AG generated revenue of EUR 204,336, compared with EUR 144,605 in the previous year. Earnings after tax amounted to EUR -459,396, compared with EUR -1,301,574 in the prior-year period. On a net basis, the financial year 2025 resulted in a net loss of EUR -459,678, following a loss of EUR -1,301,856 in the prior-year period.

The improvement in earnings is primarily attributable to income from investments amounting to EUR 1,280,000 in connection with the sale of a plot of land by the portfolio company getlogics GmbH. This is offset by impairment losses of EUR 669,532. These result primarily from the full write-off of the investment in getlogics GmbH following the announced cessation of business operations and the associated liquidation. In addition, the investments in Crealytics and Miet24 were written down on the basis of updated company forecasts.

The net asset value (NAV) of Mountain Alliance AG as at 31 December 2025, after deduction of net financial liabilities, amounted to EUR 40.4 million, compared with EUR 42.5 million at the end of 2024. Based on 7,569,205 outstanding shares (previous year: 6,885,584 shares), this results in a NAV per share of EUR 5.33 as at 31 December 2025, compared with EUR 6.17 as at 31 December 2024.

In the 2025 financial year, Mountain Alliance AG consistently pursued its strategic realignment and set the course for future growth. Against the backdrop of a noticeable recovery in the venture capital market, particularly in the defence tech and dual-use technologies sectors, the company was able to raise just under EUR 2.0 million through a successful capital increase and invest specifically in promising technology fields.

By investing in Destinus, Mountain Alliance has established a stake in a leading European provider of autonomous flight systems and scalable attack and defence technologies. Additional growth momentum stems from Destinus’ strategic partnership with Rheinmetall AG to expand industrial drone production capacities in Europe. Furthermore, Mountain Alliance invested in Mindguard, an innovative provider of AI-powered solutions to promote mental resilience in the defence sector.

Operationally, the online language school Lingoda GmbH in particular showed very positive development, with double-digit revenue growth once again and an EBITDA margin in the double-digit range. Although Shirtinator AG was affected by declining revenues in 2025 as a result of changes to search engine algorithms and reduced visibility on Google, it responded early with extensive restructuring and optimisation measures. The first positive effects of these strategic adjustments have already been evident since the first quarter of 2026. At the same time, the company’s financial liabilities were reduced by around EUR 800,000 through the successful sale of getlogics GmbH’s property, further strengthening the balance sheet structure.

For the 2026 financial year and subsequent years, the strategic focus is on the consistent further development of the realignment initiated in 2025. The company plans to further expand its investment activities, particularly in the areas of defence tech, dual-use, drone technology, satellite technology, cybersecurity and artificial intelligence. The aim remains to sustainably increase the Net Asset Value (NAV) and create long-term value for shareholders through the targeted allocation of capital and active portfolio management.

Mountain Alliance AG expects its stake in Destinus, in particular, to provide a positive boost to the development of its net asset value. The company’s positive operational performance and, in particular, the joint venture with Rheinmetall AG to expand European drone manufacturing underscore its considerable growth potential. The valuation indicators circulating in the market regarding Destinus, which have recently intensified, including a possible IPO in Amsterdam , already suggest a positive effect on Mountain Alliance’s NAV.

Dr. Hans Ulrich Tetzner, CEO of Mountain Alliance AG, comments: “2025 was a year of strategic repositioning for Mountain Alliance. With investments in future-oriented sectors such as defence tech, dual-use and AI, we have laid the foundations for the next phase of growth. In particular, the development of our portfolio company Destinus confirms our focus on key European technologies with significant potential for value appreciation. We already see ourselves as strongly positioned to benefit from structural growth in security- and technology-driven markets.”

The 2025 annual financial statements are available for download at www.mountain-alliance.de.

About Mountain Alliance AG:
Mountain Alliance AG (MA) (ISIN: DE000A12UK08) is an investment company whose shares are listed on the m:access segment of the Munich Stock Exchange and on the Basic Board of the Frankfurt Stock Exchange. As a lean, transparent, and intelligent investor with many years of expertise and an excellent network, the company invests in innovative technology companies. Its goal is to gain early exposure to companies and business models that actively shape future technology trends. In this way, the company provides its shareholders with easy access, via the stock exchange, to a diversified portfolio of technology-oriented hidden champions. 

Contact:
Mountain Alliance AG
Dr. Hans Ulrich Tetzner
Sole Member of the Management Board
Theresienstr. 40
80333 Munich
Email: tetzner@mountain-alliance.de
www.mountain-alliance.de

CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Investor Relations
Bahnhofstr. 98
82166 Gräfelfing/Munich
phone: +49 89 1250903-30
e-mail: sh@crossalliance.de
www.crossalliance.de