Ferratum Oyj: Ferratum Interim Report January - September 2016
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Ferratum Oyj /
Ferratum Oyj: Ferratum Interim Report January - September 2016
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Ferratum Interim Report January - September 2016
Highlights 9M 2016
* Year-on-year revenue up 37.3 % to EUR 108.7 million (9M 2015: EUR 79.2
million)
* Operating profit (EBIT) rose by 16.4 % to EUR 14.2 million (9M 2015: EUR
12.2 million)
* Decreased EBIT margin of 13.1 % (9M 2015: 15.4 %)
* Strong operative Cash flow: EUR 43.8 million (9M 2015: -21.5 million)
Helsinki, November 10, 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 nine months of
the year 2016. Since the start of the year Ferratum has introduced its Credit
Limit product in both Spain and Poland while presenting the PLUS Loan product to
the Finnish market. Ferratum Business (SME) has been launched in Denmark and the
Netherlands during 2016. The group has also introduced a completely new member
to its product family, marketplace lending (Ferratum P2P). Yet, another
milestone for the group is the deposit-taking by Ferratum Bank Plc, which has
been well accepted by the customers in both Germany and Sweden.
The combined revenue share of PLUS Loan (including Ferratum Business) and Credit
Limit grew from 44.6 % in 9M 2015 to 63.9 % while the revenue share of the
Microloan business decreased to 35.8 % (9M 2015: 55.6 %).
Key Figures, EUR '000 Jan-Sept 2016 Jan-Sept 2015
Revenue 108,645 79,179
Operating Profit 14,231 12,212
Profit before tax 9,456 9,395
Net cash flows from operating activities before 40,242 34,698*
movements in portfolio and deposits received
Profit before tax % 8.7 11.9
* Restated: the amount of Increase / decrease in interests accrued was taken out
and included to Net cash flows from operating activities (after movements in
portfolio)
Key Figures, EUR '000 Sept 30, 2016 Dec 31, 2015
Accounts receivable - consumer loans (net) 153,615 106,758
Deposits from customers 88,661 3,009
Cash and cash equivalents 71,765 17,452
Total assets 256,785 140,127
Non-current liabilities 47,673 48,927
Current liabilities 125,862 13,562
Equity 83,250 77,638
Equity ratio 32.4 55.4
Net debt to equity ratio 1.22 0.58
CEO Jorma Jokela comments the first nine months
"In the first nine months 2016 Ferratum continued to grow dynamically. As we
want to continue to grow significantly and achieve an increased profitability we
have set up a Growth Acceleration Program. The program includes changes in the
organization which is now oriented towards products, instead of regions. In
addition, the number of the directors team members has been reduced. We want to
use the existing capacities more efficiently than before.
Another aspect of the program is to discontinue products which are not
profitable, we have therefore decided to suspend FerBuy. Furthermore, we decided
to repeal the intended takeover of FCB Firmen-Credit Bank GmbH. The IT strategy
has also undergone adjustments in order to achieve a more efficient IT
architecture and systems.
Beside the achievements relating to the Growth Acceleration Program we reached
the important milestone of launching the Mobile Bank to the public in Norway and
Germany. The Mobile Bank will open additional opportunities to attract new
customers and present more products to our existing customers."
About Ferratum Group:
The Finnish Ferratum Group, a pioneer for mobile consumer loans, 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 1.5 million active and former customers who have been granted one or more
loans in the past and 4.3 million total user accounts in its database (as of 30
September 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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Source: Ferratum Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 506063
Anzahl Zeichen: 6568
contact information:
Town:
Helsinki
Kategorie:
Business News
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