Interim Report and Interim Financial Statements for 3 months period ended 30 September, 2021
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 Paskolų 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 Paskolų 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 |
∆, % |
|
Granted loans, EUR |
7718577 |
4718978 |
64% |
|
Income, EUR |
913531 |
680987 |
34% |
|
Cost of Sales, EUR |
-466044 |
-330481 |
41% |
|
Gross profit (loss), EUR |
447487 |
350506 |
28% |
|
General and administrative expenses, EUR |
-330349 |
-186241 |
77% |
|
EBITDA, EUR |
117139 |
164265 |
-29% |
|
Pre-tax profit, EUR |
69035 |
122372 |
-44% |
|
EBITDA Margin, % |
13% |
24% |
|
|
Return on Equity (ROE), % |
3% |
9% |
|
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
Aleksėjus Loskutovas
Email: [email protected]