DGAP-Ad-hoc: Ferratum Oyj / Key word(s): Profit Warning
Ferratum Oyj: Reducing 2020 revenue and EBIT expectations
18-March-2020 / 07:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*Reducing 2020 revenue and EBIT expectations*
Helsinki, 18 March 2020 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS)
("Ferratum" or the "Group") reduces 2020 revenue and EBIT expectations.
In 2020, the Board of Ferratum Oyj expects the Covid-19 pandemic to have a
material impact on the Groups performance. Revenue and EBIT are expected to
materially decrease compared to 2019.
Taking into consideration the current macro-economic uncertainty, impairment
levels are expected to increase during 2020. An expectation of deteriorating
economic indicators would increase impairments driven by the implemented
statistical risk reserving model. In addition, the Board expects continued
high volatility in FX rates as a consequence of the Covid-19 outbreak and
the oil market turmoil which might have a negative impact on net
profitability in 2020.
*About Ferratum Group:*
Ferratum Group is an international provider of mobile banking and digital
consumer and small business loans, distributed and managed by mobile
devices. Founded in 2005 and headquartered in Helsinki, Finland, Ferratum
has expanded rapidly to operate in 23 countries across Europe, Africa, South
and North America, Australia and Asia.
As a pioneer in digital and mobile financial services technology, Ferratum
is at the forefront of the digital banking revolution. Ferratum has
approximately 740,000 active customers that have an open Mobile Bank account
or an active loan balance in the last 12 months (as at 31 December 2019).
Ferratum Group is listed on the Prime Standard of Frankfurt Stock Exchange
under symbol 'FRU.' For more information, visit www.ferratumgroup.com [1].
*Contacts:*
IR@ferratum.com
https://www.ferratumgroup.com/investors/ir-contact [2]
18-March-2020 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Ferratum Oyj
Ratamestarinkatu 11 A
00520 Helsinki
Finland
Phone: +49 (0) 30 9210058-44
Fax: +49 (0)30 9210058-49
E-mail: ir@ferratum.com
Internet: https://www.ferratumgroup.com
ISIN: FI4000106299
WKN: A1W9NS
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1000209
End of Announcement DGAP News Service
1000209 18-March-2020 CET/CEST
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=3fa5c737ea9db8fbd79f449420a64a54&application_id=1000209&site_id=vwd&application_name=news
2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=77d2da58a8cf33341df2025f7b208e56&application_id=1000209&site_id=vwd&application_name=news
(END) Dow Jones Newswires
March 18, 2020 02:15 ET (06:15 GMT)
