NEO Finance, AB annual audited information for 2019 and commentary on the change in net result

Please find attached audited financial statements of NEO Finance, AB for the year 2019.

In the audited statements Company's loss for 2019 amounts to EUR 841 thous. and differs from the preliminary loss of EUR 659 thous. This difference is due to the following adjustments:

Taking into account the economic situation at the time of publication of the statements and possible payment delays in the future, Company's doubtful debts were re-evaluated, and their amount was increased by EUR 113,000.
The investment of EUR 65,000 made by NEO Finance, AB in the subsidiary’s NEO Finance B.V. authorized capital was devalued, as this company ended 2019 with a loss and had a negative equity. In the preliminary results published on 31-01-2020, this devaluation was not made, but NEO Finance B.V. result was included under Group's result, so this devaluation does not affect the actual result.

Andrius Ladauskas
CFO

You can find more information in the report here (on NEO Finance Nasdaq profile).