DGAP-News: IuteCredit reports unaudited results for H1/2019

2019. augusztus 22., csütörtök, 07:30





DGAP-News: IuteCredit Finance S.à.r.l. / Key word(s): Half Year Results


IuteCredit reports unaudited results for H1/2019


22.08.2019 / 07:30



The issuer is solely responsible for the content of this announcement.



IuteCredit reports unaudited results for H1/2019

Growth in line with targets




OPERATIONAL AND FINANCIAL HIGHLIGHTS



- Group loans issued more than doubled by 120.4% to 70,126 thousand EUR (H1/2018: 31,815 thousand EUR)



- Interest and similar income up two-folded by 114,4% to 17,816 thousand EUR (H1/2018: 8,311 thousand EUR)



- Doubled net interest income of 113.0% to 14,471 thousand EUR (H1/2018: 6,793 thousand EUR)



- Net profit increased strongly by 8.7% to 3,757 thousand EUR (H1/2018: 3,457 thousand EUR)



- Outlook 2019: 150 million EUR loans issued to +200,000 customers with net loan portfolio above 100 million EUR mark, revenues to exceed 55 million EUR with a net profit margin of at least 20%




Tallinn, Estonia, 22 August 2019. IuteCredit Europe ("ICE"), a leading European personal finance group reported today unaudited results for H1/2019.



"The growth of our customer database in the first six months of 2019, to almost 500,000 customers with 40,000 installment loan applications processed per month, underlines IuteCredit"s continued expansion in line with its targets. Having grown profitably, in particular in topline, we will continue to focus on improving the OPEX in the further course of the year.



It is our mission, particularly in view of rising regulatory requirements and the resulting decline in credit yields, to be ahead of the competition in terms of costs, and at the same time to create the extraordinary experience in the field of personal finance by exceeding customers" expectations.



For 2019 as a whole, we aim to issue more than 150 million EUR worth loans to more than 200,000 customers with the net loan portfolio growing past the 100 million EUR mark. Group revenues are expected to exceed 55 million EUR with a net profit margin of at least 20%", said Tarmo Sild, Group CEO of IuteCredit.



The full unaudited report for H1/2019 is available under https://iutecredit.com/#reports.




Contact:



IuteCredit

Kristel Kurvits, Group Chief Financial Officer (CFO)

Email: kristel.kurvits@iutecredit.com

Phone: +372 55 88 77 0



Evelin Kanter, Group Chief Legal Officer (CLO)

Email: evelin.kanter@iutecredit.com

Phone: +372 50 52 72 9

Aalto Capital (Investor Relations)

Sven Pauly, Consultant

Email: sven.pauly@aaltocapital.com

Phone: +49 89 898 67 77 0




About IuteCredit:



IuteCredit - established in 2008 - is a leading European personal finance company. The Group is specialized in consumer credits via its 100% subsidiaries using equity and loan capital. IuteCredit serves customers currently in Moldova, Albania, North-Macedonia, Kosovo and Bosnia and Herzegovina.



Until 31/06/2019, 300 people including the Management and IT team served more than 180,000 of active loan customers and worked with the pool of 480,000 customers.



IuteCredit"s loan products are unsecured consumer loans with maturities between 1 month and 36 months and car-secured loans with maturities up to 60 months.



The mission of IuteCredit is to create the extraordinary experience in personal finance by exceeding customers" expectations.



www.iutecredit.com
















22.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: IuteCredit Finance S.à.r.l.

14, rue Edward Steichen

2540 Luxembourg

Luxemburg
ISIN: XS2033386603
EQS News ID: 861241





 
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861241  22.08.2019 



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