Ferratum Oyj: Interim Report January - June 2016 / Continued dynamic and profitable growth
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Ferratum Oyj /
Ferratum Oyj: Interim Report January - June 2016 / Continued dynamic and
profitable growth
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Ferratum Interim Report January - June 2016
Continued dynamic and profitable growth
Highlights H1 2016
* Year-on-year revenue up 41.4 % to EUR 70.4 million (H1 2015: EUR 49.8
million)
* Operating profit (EBIT) rose by 60.2 % to EUR 10.1 million (H1 2015: EUR
6.3 million)
* Improved EBIT margin of 14.3 % (H1 2015: 12.6 %)
* Portfolio quality with steady improvement: declined impaired loan coverage
ratio of 34.2 % (H1 2015: 41.4 %)
Helsinki/Berlin, August 11, 2016 - Ferratum Oyj (ISIN: FI4000106299, WKN:
A1W9NS), a pioneer in the field of financial technology and an international
provider of mobile banking services, continued its growth trend in the first
half year 2016. Since the start of the year Ferratum has introduced its Credit
Limit product in both Spain and Poland while introducing the PLUS Loan product
to the Finnish, British and Slovakian markets. In addition, Ferratum Business
(SME) which focuses on small and medium-sized enterprises was introduced to two
new markets, Denmark and the Netherlands, during the first half of the year. The
group has also introduced a completely new member to its product family,
marketplace lending (Ferratum P2P). As a result Ferratum showed strong topline
growth while once again improving its profitability. Revenues rose to EUR 70.4
million, an improvement of 41.4 % compared to H1 2015. The (diluted) earnings
per share improved to EUR 0.29 (H1 2015: EUR 0.21).
Product developments in H1 2016
* Mobile Bank launched to the public in Sweden
* Ferratum P2P launched in Czech Republic
* Deposit taking started in Germany
* Credit Limit launched in Spain and Poland
* PLUS Loans launched in the UK, Finland and Slovakia
* Ferratum Business (SME) launched in Denmark and the Netherlands
The combined revenue share of PLUS Loan (including Ferratum Business) and Credit
Limit grew from 40.3 % in H1 2015 to 61.7 % while the revenue share of the
Microloan business decreased to 38.2 % (H1 2015: 59.7 %).
Key Figures, EUR '000 Jan-Jun 2016 Jan-Jun 2015
Revenue 70,428 49,796
Operating Profit 10,075 6,288
Profit before tax 7,014 5,169
Net cash flows from operating activities before 32,009 19,416
movements in portfolio
Profit before tax % 10.0 10.4
Key Figures, EUR '000 June 30, 2016 Dec 31, 2015
Accounts receivable - consumer loans (net) 137,453 106,758
Deposits from customers 32,896 3,009
Cash and cash equivalents 39,403 17,452
Total assets 197,922 140,127
Non-current liabilities 47,766 48,927
Current liabilities 69,015 13,562
Equity 81,141 77,638
Equity ratio 41.0 55.4
Net debt to equity ratio 0.95 0.58
CEO Jorma Jokela comments the first half year
"The results show our dynamic growth which we expect to continue. I'm pleased to
see that the diversification of our product portfolio, the geographic expansion
and the development of the Mobile Bank pay off. One major milestone in the first
half of 2016 was the launch of the Mobile Bank in Sweden. This product has a
trend-setting technology for the banking industry and will serve as a future
anchor in our product portfolio.
We are running our business with a very conservative risk provision model, in
which the expected defaults are already booked during the disbursement of a new
loan. This helps us to grow products with a larger loan amount and a longer term
like our PLUS Loan product.
To help us further expand our loan business we issued a new bond in Germany with
attractive conditions. We experienced a positive feedback from investors and
where able to raise EUR 25 million. Our efforts were also honored by the rating
agency Creditreform AG. The group's credit rating was upgraded during Q2 2016
from BBB to BBB+. Furthermore, we are successfully raising money with the
deposit business.
During the next months we want to continue our growth strategy. Rolling out
products like Ferratum P2P and especially the Mobile Bank in key markets like
Germany is crucial for our further profitable growth.
About Ferratum Group:
The Finnish Ferratum Group, a pioneer for mobile consumer loans in Europe,
offers short-term consumer loans for private customers. Ferratum's customers can
utilize digital media to apply for consumer credit in amounts varying between
EUR 25 and EUR 3,000. Moreover, Ferratum offers successful small businesses
installment loans with a term of six to twelve months. Managed by its founder
Jorma Jokela, Ferratum has expanded rapidly since it was founded in 2005:
Ferratum has more than 1.4 million active and former customers who have been
granted one or more loans in the past and 4.1 million total user accounts in its
database (as of 30 June 2016). Ferratum is represented in 23 markets.
Contacts:
Ferratum Group
Dr. Clemens Krause, CFO
T: +49 30 88715308
F: +49 30 88715309
M: clemens.krause(at)ferratum.com
Ferratum Group
Paul Wasastjerna
Head of Investor Relations
T: +358 40 7248247
F: +358 20 741 1614
M: paul.wasastjerna(at)ferratum.com
cometis AG
Henryk Deter | Claudius Krause
T: +49 611 20 58 55-28
F: +49 611 20 58 55-66
M: krause(at)cometis.de
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ferratum Oyj via GlobeNewswire
[HUG#2034478]
Unternehmensinformation / Kurzprofil:
Datum: 11.08.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 488482
Anzahl Zeichen: 7510
contact information:
Town:
Helsinki
Kategorie:
Business News
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