Multitude with 9 months EBIT growth of 50% up to EUR 32.5 million
Multitude with 9 months EBIT growth of 50% up to EUR 32.5 million
- Continued high profitability: EBIT 50% up to EUR 32.5 million - EBIT margin at 19% and after-tax profit doubled to EUR 12.4 million
- Strong cash position at EUR 167.0 million
- Robust payment behaviour
- EUR 45 million EBIT guidance for 2023 remains in place
Helsinki, 16 November 2023 – Multitude SE – a fully regulated international growth platform for financial technology (ISIN: FI4000106299, WKN: A1W9NS) continues its profitable growth track with a strong performance in the first nine months of 2023. The company reported revenue growth of 6.2% to EUR 167.4 million (9M 2022: EUR 157.6 million) with revenue growth in each of the three segments (SweepBank, Ferratum and CapitalBox). In the third quarter, Multitude was able to increase its growth rate from the previous quarter with a 7.2% increase in sales to EUR 57.9 million.
Due to a further improved cost efficiency Group EBIT for the reporting period was EUR 32.5 million, 50% higher than the comparable figure for the previous year of EUR 21.7 million. EBIT margin jumped from 13.8% in the previous-year period to 19.4% this year. The surge in interest rates had a significant impact on net finance costs. In comparison to the same period last year, net finance costs have increased from EUR 13.8 million to EUR 17.4 million in Q1-Q3 2023. Profit before taxes reached EUR 15.2 million – substantially above previous year`s figure of EUR 7.9 million and after-tax profit rose to EUR 12.4 million (9M 2022: EUR 6.1 million). Earnings per share went up accordingly from EUR 0.17 to EUR 0.37.
After the strong performance in the first nine months, management is still confident to achieve the communicated full-year guidance for 2023 with an improvement in consolidated EBIT from EUR 31.6 million in 2022 to EUR 45 million.
“Despite continuous uncertainties in the in the market, Multitude has been able to achieve significant further growth throughout 2023 so far. The increase in in revenue and EBIT demonstrate that we were right in our strategic focus on sustainable and profitable growth”, Jorma Jokela, CEO of Multitude SE comments on the development.
Stable portfolio size and solid portfolio quality
The Group’s total loans to customers further increased to EUR 548.2 million at the end of Q3 2023 from EUR 509.5 million (+7.6%) at the end of 2022, the Group’s impaired loan coverage ratio (“ILCR“) remains stable at 17.8% and even slightly improved compared to the first half 2023.
In the second half of 2022, Multitude expanded its business activity to include investments in securitized bonds through warehouse lending investments equalling EUR 43.4 million at the end of Q3 2023 with significant growth of EUR 14.5 million (+50.1%) from EUR 28.9 million at the end of 2022.
High liquidity position of EUR 167.0 million – solid balance sheet quality
The Group’s balance sheet quality was further strengthened. At of the end of Q3 2023, total assets reached EUR 819.5 million, marking a substantial increase of EUR 64.3 million compared to EUR 755.2 million recorded at the end of 2022. Current assets tallied up to EUR 619.7 million. The ratio of current assets to total assets remains high at 75.6%, (31.12.2022: EUR 576.3 million and 76.3%). This surge is primarily attributed to the net growth in cash and cash equivalents and current loans to customers. Cash and cash equivalents rose from EUR 153.3 million to EUR 167.0 million at the end of Q3 2023. Additionally, the Group’s non-current assets also experienced growth, expanding by EUR 21.0 million from EUR 178.9 million to EUR 199.8 million by the end of Q3 2023. The Group’s shareholders’ equity slightly increased to EUR 184.4 million, representing an equity ratio of 22.5%. The Group introduced net equity ratio as a one of the main measures for capital adequacy which equals 28.7% at the end of Q3 2023 and 30.6% at the end of 2022.
|Key figures, EUR million||9M 2023||9M 2022||Change|
|Profit before interests and taxes (EBIT)||32.5||21.7||+49.8%|
|EBIT margin %||19.4%||13.8%||+5.6 PP|
|Profit before tax||15.2||7.9||+ 91.9%|
|Net profit (loss)||12.4||6.1||+102.7%|
|Earnings per share, attributable to the ordinary equity (EUR)||0.37||0.17||+117.6%|
Important note: Improved presentation of financial statement line items
The Group has improved its presentation of certain financial items on the consolidated financial statements at the end of 2022. As a result, the Group’s consolidated statement of financial positions, consolidated statements of profit or loss, total comprehensive income, and cash flows, including relevant note disclosures for the comparative period of 9M 2022, have been restated to reflect the impact of the presentation adjustments.
For the full report on the first nine months 2023 and further information please refer to: www.multitude.com/investors/results-reports-and-publications/
Chief Strategy and IR Officer
Phone : +41 79 371 34 17
E-mail : Lasse.email@example.com
About Multitude SE:
Multitude is a fully regulated growth platform for financial technology. Its ambition is to become the most valued financial ecosystem. This vision is backed by 18+ years of solid track record in building and scaling financial technology. Through its full European banking license, profound know-how in technology, regulation, cross-selling, and funding, Multitude enables a range of sustainable banking and financial services to grow and scale. Currently, it has three independent business units on this growth platform: Ferratum as consumer lender, CapitalBox as business lender, and SweepBank as a shopping and financial app. Multitude and its independent units employ over 700 people in 16 countries, and they together generated EUR 212 million turnover in 2022. Multitude was founded in 2005 in Finland and is listed in the Prime Standard segment of the Frankfurt Stock Exchange under the symbol ‘FRU.’ www.multitude.com
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Nokia Corporation Financial Calendar for 20241.12.2023 07:00:00 CET | Press release
Nokia Corporation Stock Exchange Release 1 December 2023 at 8:00 EET Nokia Corporation Financial Calendar for 2024 Espoo, Finland – In this stock exchange release, Nokia provides its financial calendar for 2024, which includes the planned publication dates of its financial reports. Planned publication dates for Nokia's financial reports in 2024: report for Q4 2023 and full year 2023: 25 January 2024report for Q1 2024: 18 April 2024report for Q2 2024 and half-year 2024: 18 July 2024report for Q3 2024 and January–September 2024: 17 October 2024 Publication of "Nokia in 2023" Nokia plans to publish its "Nokia in 2023" annual report, which includes the review by the Board of Directors and the audited annual accounts, during the week starting on 26 February 2024. Nokia's Annual General Meeting Nokia's Annual General Meeting 2024 is planned to be held on 3 April 2024. About Nokia At Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are p
S&P Global Ratings raises its rating on CNH Industrial to ‘BBB+’1.12.2023 07:00:00 CET | Press release
Basildon, December 1, 2023 CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces that on November 30, 2023, S&P Global Ratings raised its long-term issuer credit ratings on CNH Industrial N.V. and its subsidiary, CNH Industrial Capital LLC, to 'BBB+' from 'BBB'. S&P Global Ratings also affirmed the 'A-2' short-term issuer credit rating. Additionally, S&P Global Ratings raised the issue-level ratings on CNH Industrial N.V. and its industrial subsidiaries' debt, as well as the issue-level ratings on CNH Industrial Capital LLC's senior unsecured debt, to 'BBB+' from 'BBB'. The outlook is stable. CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland Agriculture supply 360° agricul
Canada Carbon Provides Update on Its Asbury Mine Exploration Program1.12.2023 04:04:42 CET | Press release
TORONTO, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Canada Carbon Inc. (the "Company" or "Canada Carbon” or ("CCB"), (TSX-V:CCB), (FF:U7N1) is pleased to report that extensive graphitic mineralization was observed during its ongoing drill program on the Asbury Property (“the Property”). The Company would like to take this opportunity to provide a general update regarding the exploration program on the Property. Current exploration work includes drilling, completion of an NI 43-101 compliant resource calculation, metallurgical testing and development of a geochemical signature. The information provided from the exploration work will allow the Company to proceed with a Preliminary Economic Study to be completed in 2024. Drill Program Phase 1 of the drill program commenced on October 16th, and will be completed on November 30th 2023. The current drill program is testing a folded conductor anomaly, located on the North Eastern side of a regional magnetic anomaly. The drilled area is mostly located
Delårsrapport januari – september 202330.11.2023 23:59:00 CET | Pressemelding
Tredje kvartalet 2023 (jämfört med tredje kvartalet 2022) Nettoomsättningen uppgick till 8 MSEK (24)Bruttomarginalen ökade till 67 % (35 %)Rörelseresultatet ökade till 128 MSEK (-14)Periodens nettoresultat blev 122 MSEK (-4)Resultat per aktie före och efter utspädning ökade till 0,45 SEK (-0,05) Januari – september 2023 (jämfört med januari – september 2022) Nettoomsättningen uppgick till 30 MSEK (61)Bruttomarginalen ökade till 66 % (63 %)Rörelseresultatet ökade till 98 MSEK (-37)Nettoresultatet blev positivt och uppgick till 99 MSEK (-9)Resultat per aktie före och efter utspädning uppgick till 0,42 SEK (-0,17) Rapporten för januari – september 2023 i sin helhet finns tillgänglig på följande adress: https://www.anoto.com/investors/reports/ För ytterligare information kontakta: Joonhee Won, VD, Anoto Group AB För mer information om Anoto, besök www.anoto.com eller email firstname.lastname@example.org Denna information är sådan information som Anoto Group AB (publ) är skyldigt att offentliggöra enligt EU:
Interim Report January – September 202330.11.2023 23:59:00 CET | Press release
Third quarter 2023 (compared to third quarter 2022) Net sales for the quarter amounted to MSEK 8 (24)Gross margin for the quarter increased to 67% (35%)Operating profit increased to MSEK 128 (-14)Net income for the period turned to profit of MSEK 122 (-4)Earnings per share before and after dilution increased to SEK 0.45 (-0.05) January – September 2023 (compared to January – September 2022) Net sales for the period amounted to MSEK 30 (61)Gross margin for the period increased to 66% (63%)Operating profits increased to MSEK 98 (-37)Net income became positive at MSEK 99 (-9)Earnings per share before and after dilution increased to SEK 0.42 (-0.17) The report for January – September 2023 is available in its entirety on the following address: https://www.anoto.com/investors/reports/ For further information, please contact: Joonhee Won, CEO, Anoto Group AB For more information about Anoto, please visit www.anoto.com or email email@example.com This information is information that Anoto Group AB (