Pressemitteilung der Ferratum Oyj:
Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) ("Ferratum", the "Company" or the "Group") announces unaudited results for the first nine months ended 30 September 2020 ("9M 2020").
Financial Highlights 9M 2020
- Revenue y-o-y down by -19.0% to EUR 176.7 million as a result of management actions related to the COVID-19 pandemic (including reduced lending and stricter scoring) and the decision to streamline the Group's countries of operations by suspending lending in selected markets
- Positive EBIT achieved by continued strict cost discipline as well as conservative and qualitative underwriting
Operational Highlights
- Investment in future growth: CapitalBox acquired SME lending business from Spotcap NL
9 months ended30 SeptemberKey Figures, EUR million9M 20209M 2019Revenue176.7218.1Operating profit (EBIT)19.333.5Profit before tax2.119.7Earnings per share, basic (EUR)0.030.78Earnings per share, diluted (EUR)0.030.78Successful navigation through the COVID-19 pandemic by substantial costreductions and lowered risk appetite
Revenue performance driven by substantial reduction of the Group's risk exposureFerratum's revenues reached during the first nine months of 2020 EUR 176.7 million, a decrease of 19% compared to the respective period last year (9M 2019: EUR 218.1 million). The reduction in revenues is caused by management actions related to the COVID-19 pandemic (including reduced lending and stricter scoring) and the decision to streamline the Group's countries of operations by suspending lending in Canada, New Zealand, Poland, Russia and Spain.
Operational cost base decreased by EUR 21.5 million - EBIT remained positive at EUR 19.3 millionThe Operating profit (EBIT) came in at EUR 19.3 million for the first nine months of 2020 and decreased by EUR 14.2 million compared to the first nine months of 2019 (EUR 33.5 million).
The reduction in EBIT is a result of COVID-19 related decrease in revenues and impairment charges, especially during Q1 2020 where the Group faced an EUR 7.8 million (COVID-19 related) impairment charge. As a result of the Group's reduced lending and risk exposure, impairment levels decreased during the course of Q2 (Q2 2020: ...
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