GlobeNewswire by notified

Multitude SE publishes 9M 2022 results

Share

Multitude SE publishes 9M 2022 results

Helsinki, 17 November 2022 – Multitude SE (ISIN: FI4000106299, WKN: A1W9NS) (“Multitude” or the “Group”) announces unaudited results for the nine months ended 30 September 2022 ("9M 2022").

Financial Highlights

  • Revenue increased by EUR 3.7m compared to 9M 2021, despite challenging market environment
  • 13.1% lending portfolio growth y-o-y compared to 9M 2021
  • Positive upwards trend in EBIT
  • EBIT, PBT, and after-tax profit amounted to EUR 20.8m, EUR 7.7m, and EUR 6.0m
  • Earnings per share EUR 0.17 compared to EUR 0.03 in 9m 2021

Key Figures, EUR million9M 20229M 2021*
Revenue162.8159.1
Profit before interests and taxes (EBIT)20.823.2
Profit before tax7.78.5
Net profit from continuing operations6.06.6
Net Profit (loss)6.02.7
Earnings per share, basic, continuing operations (EUR)      0.170.22
Earnings per share, attributable to the ordinary equity (EUR)      0.170.03

*Restated to reflect carve-out of discontinued operations

Growth in portfolio size and solid asset quality

The Group follows its current strategy of concentrating on the most profitable lending markets, focusing its operations and portfolio on more stable revenue sources with a well-established customer base. The Group’s collective loan portfolio stood at EUR 484.7 million at the end of Q3 2022 – a noticeable increase from EUR 443.9 million (+9.2%) at the end of Q4 2021, respectively. Increase in net loan receivable portfolio at the end of Q3 2022 as compared to the end of Q4 2021 amounted to EUR 3.5 million (+1.2%) in Ferratum, EUR 29.4 million (+33.8%) in SweepBank, and EUR 8.0 million (+10.7%) in CapitalBox tribes.

Relatively flat operating expenses

The Group’s operating expenses, excluding impairment losses, remained relatively flat, with a net increase of EUR 6.8 million (5.0%) when comparing 9M 2022 and 9M 2021. Selling and marketing expense decreased by EUR 4.6 million (-22.5%), driven by the netting of broker fees from revenue, improved procurement activities in the first half of the year, and new austerity measures implemented in the following months. Decrease of marketing and selling expense adjusted by the reclassification done in 9M 2022 is EUR 2.8 million (-13.6%). This reduction was offset by the increases in depreciation and amortization, EUR 1.2 million (+10.5%), coming mainly from the revaluation of rights of use asset. The increase in personnel expense by 2.2% (compared to 9M 2021) is justified by the increase in share-based expense amounting to EUR 0.3 million when comparing 9M 2022 and 9M 2021.

Lower interest expenses and controlled foreign exchange impact

Net finance costs have shown a significant decrease on a year-on-year basis, amounting to EUR 1.7 million (-11.4%) when comparing EUR 13.1 million in 9M 2022 to EUR 14.8 million in 9M 2021. Interest expense decreased by EUR 2.8 million (-23.0%) due to the conversion of the outstanding 2018 and 2019 bonds to the 2021 perpetual bonds, in which interests are charged directly against retained earnings instead of profit or loss. Although major uncertainties in the capital and currency markets, Multitude managed to limit the increase in net foreign exchange loss amounting to EUR 0.7 million when comparing 9M 2022 and 9M 2021 results.

Improved profitability amids worsening macroeconomic conditions

The Group’s operations during 9M 2022 have delivered solid positive profit before interests and taxes (‘EBIT’), profit before taxes, and after-tax profit from continuing operations amounting to EUR 20.8 million, EUR 7.7 million, and EUR 6.0 million, respectively. The Group’s operations for the comparative period 9M 2021 amounted to EUR 23.4 million, EUR 8.7 million, and EUR 6.8 million, respectively.

The Group’s profitable results were mainly attributed to a combination of the Group’s marginal revenue growth, increased risk provisioning, and lower net finance costs during 9M 2022.

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 17+ 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 19 countries, and they together generated EUR 214 million turnover in 2021. 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

Contacts:

IR@multitude.com
https://www.multitude.com/investors/ir-contact

Attachment

To 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

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

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

ZetaDisplay emitterar nya seniora säkerställda obligationer och avser att återlösa sina seniora icke-säkerställda obligationer1.2.2023 18:00:00 CET | Pressemelding

ZetaDisplay emitterar nya seniora säkerställda obligationer och avser att återlösa sina seniora icke-säkerställda obligationer Malmö, 1 februari 2023 ZetaDisplay AB (publ) (“Emittenten”) har framgångsrikt prissatt seniora säkerställda obligationer om SEK 300 miljoner under ett ramverk om SEK 500 miljoner med en löptid på tre år (“Nya Obligationerna”). Transaktionen var väl övertecknad och renderade ett brett intresse från både nordiska och internationella institutionella investerare. De Nya Obligationerna kommer att ha en rörlig ränta om 3m STIBOR plus 7,75 procent per år och en slutlig förfallodag i februari 2026. Emittenten avser att notera de Nya Obligationerna på Nasdaq Stockholms företagsobligationslista. Likviden från de Nya Obligationerna kommer att användas till att refinansiera Emittentens SEK 300 miljoner seniora icke-säkerställda obligationer med förfallodag i mars 2023 (ISIN: SE0013109568) (“2019/2023Obligationerna”). Förtidsinlösen av 2019/2023 Obligationerna förväntas att

ZetaDisplay successfully issues new senior secured bonds and intends to redeem its senior unsecured bonds1.2.2023 18:00:00 CET | Press release

ZetaDisplay successfully issues new senior secured bonds and intends to redeem its senior unsecured bonds Malmö, 1 February 2023 ZetaDisplay AB (publ) (the “Issuer”) has successfully priced senior secured bonds of SEK 300 million under a SEK 500 million framework and with a tenor of 3.0 years (the “New Bonds”). The transaction was well oversubscribed and rendered a broad interest from both Nordic and international institutional investors. The New Bonds have a floating rate coupon of 3 months STIBOR + 7.75 per cent per annum and final maturity in February 2026. The Issuer intends to apply for listing for the New Bonds on the corporate bond list of Nasdaq Stockholm. The proceeds will be used to refinance the Issuer’s SEK 300 million senior unsecured bonds with maturity in March 2023 (ISIN: SE0013109568) (the “2019/2023Bonds”). Redemption of the 2019/2023 Bonds is expected to occur on or around 27 February 2023 (the “Redemption Date”) and is conditional on the settlement of the New Bonds.

Ilkka Oyj – Acquisition of own shares on 1 February 20231.2.2023 18:00:00 CET | Press release

ILKKA OYJ, STOCK EXCHANGE RELEASE, 1 February 2023 at 19:00 EET IlkkaOyj – Acquisition of own shares on 1 February 2023 At Nasdaq Helsinki Ltd: Date1 February 2023Exchange transactionBuyShare trading codeILKKA2Amount, shares 740Average price/share, EUR3.98Total cost, EUR2,945.20 The company holds a total of 44,087 of its own shares (ILKKA2) including the shares acquired on 1 February 2023. Detailed information concerning the acquisition is attached to this stock exchange release. On behalf of Ilkka Oyj DANSKE BANK A/S, FINLAND BRANCH Jonathan Nyberg Antti Väliaho Additional information Olli Pirhonen, CEO, Ilkka Oyj, tel. +358 40 766 5418 www.ilkka.com Attachment Ilkka buyback 1.2.2023

Innofactor Plc: Share Repurchase 1.2.20231.2.2023 17:30:00 CET | Press release

Innofactor Plc Announcement 1.2.2023Innofactor Plc: Share Repurchase 1.2.2023In the Helsinki Stock ExchangeTrade date 1.2.2023Bourse trade BuyShare IFA1VAmount 6,200SharesAverage price/ share 1.1752EURTotal cost 7,286.24EURInnofactor Plc now holds a total of 1 358 836 sharesincluding the shares repurchased on 1.2.2023On behalf of Innofactor PlcNordea Bank OyjJanne Sarvikivi Sami HuttunenAdditional information:Sami Ensio, CEOInnofactor PlcTel. +358 50 584 2029sami.ensio@innofactor.comwww.innofactor.com Attachment Innofactor_1.2_trades

RULE 2.9 ANNOUNCEMENT1.2.2023 16:40:00 CET | Press release

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION FOR IMMEDIATE RELEASE 1 FEBRUARY 2023 PAYPOINT PLC ("PAYPOINT") RULE 2.9 ANNOUNCEMENT In accordance with Rule 2.9 of The City Code on Takeovers and Mergers, the Company confirms that, as at the date and time of this announcement, its issued share capital consists of 68,986,938 ordinary shares of 1/3 pence each, which carry voting rights of one vote per share. The Company does not hold any ordinary shares in treasury. The International Securities Identification Number for the Company's ordinary shares is GB00B02QND93. Enquiries: PayPoint plc Brian McLelland, Company Secretary +44(0)7721211100