In 2021 Q3, volume of the loans issued through NEO Finance, AB continued to
increase and we achieved the best-ever quarterly result. The amount of issued
loans has reached EUR 7,72 M, a 64% increase compared to the 2020 Q3. Revenue
grew to EUR 914 K, 34% increase over 2020 Q3 (EUR 681 K). The company's EBITDA
in 2021 Q3 was EUR 117 139 profit, while in 2020 Q3 it was EUR 164 265. The
profit before tax of in the 2021 Q3 was EUR 69 035 (EUR 122 372 in 2020 Q3).
In 2021 Q3, the development of the Paskolu klubas and Neopay platforms created
intangible assets in amount of EUR 165 007, which were capitalized in that
period. In 2020 Q3, intangible assets worth EUR 284 228 were capitalized. Most
of these intangible assets were previously uncapitalized IT development costs
of the Neopay platform, as well as IT development costs incurred in that
quarter for the improvement of the Paskolu klubas platform. Due to the higher
capitalization of IT costs, resulted in 2020 Q3 lower costs. The difference in
capitalization between the mentioned quarters resulted in the profit in 2020 Q3
higher than in 2021 Q3.
2021 Q3 2020 Q3 ?, %
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Granted loans, EUR 7718577 4718978 64%
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Income, EUR 913531 680987 34%
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Cost of Sales, EUR -466044 -330481 41%
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Gross profit (loss), EUR 447487 350506 28%
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General and administrative expenses, EUR -330349 -186241 77%
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EBITDA, EUR 117139 164265 -29%
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Pre-tax profit, EUR 69035 122372 -44%
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EBITDA Margin, % 13% 24%
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Return on Equity (ROE), % 3% 9%
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Number of payment initiation service (PIS) transactions has almost tripled due
to the increasing number of customers in Lithuania and growth abroad. In 2021
Q3, the company initiated 3,991 M transactions, compared to 1,635 M
transactions during 2020 Q3. Total income from payment activities, thanks to
the growth of PIS transactions, grew almost 50% - from EUR 154 028 in 2020 Q3
to EUR 229 521 in the Q3 of 2021.
Interim financial statements and interim report of NEO Finance, AB (legal
entity code 303225546, address: A. Vivulskio g. 7, Vilnius, Lithuania) for
three months period ended 30 September 2021, as well as Confirmation of
responsible persons, are ready for acquaintance in the attachment.
Head of Administration
Aleksejus Loskutovas
Email: aleksejus@neofinance.com
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=1023647© 2021 GlobeNewswire
