DGAP-News: Mogo Finance reports Unaudited results for the three months ended 31 March 2019EQS
Im Artikel erwähnte Wertpapiere: 9.5 Mogo 22 Bds-S
DGAP-News: Mogo Finance S.A. / Key word(s): Quarterly / Interim Statement
Mogo Finance reports Unaudited results for the three months ended 31 March 2019
- Group loans issued increased by 17.0% equaling EUR 37.8 million (3M 2018: EUR 32.2 million), of which EUR 24.3 million in mature markets (3M 2018: EUR 24.1 million)
- Consolidated number of active customers up significantly by approx. 30.8% to over 85,000 (31 December 2018: approx. 65,000)
- To further strengthen the grip on cost of risk, several initiatives were launched, namely GPS project and security officer functions rolled out both as a Group and country priorities
- Near-prime car loan product has been successfully tested in Latvia and will be implemented in other mature and mid-tier markets where it has the biggest potential to succeed
FINANCIAL HIGHLIGHTS AND PROGRESS
- Interest and similar income up significantly by 34.7% to EUR 16.7 million (3M 2018: EUR 12.4 million)
- Rapid growth in net interest income of 37.5% to EUR 12.1 million (3M 2018: EUR 8.8 million)
- Quarterly increase in EBITDA by 43.2% to EUR 6.3 million (3M 2018: EUR 4.4 million)
- Net profit for the period adjusted for FX effects improved notably by 57.1% to EUR 1.1 million (3M 2018: EUR 0.7 million)
Modestas Sudnius, CEO of Mogo Finance, commented:
Effective, market-leading processes have always been a backbone of Mogo Group's operations and recent developments in process optimizations will allow us to strengthen our core competences even more. This together with our established regional teams will ensure sustainable growth in mature countries and will help to boost the operational excellence and quality portfolio growth in both start-up and mid-tier countries while better controlling the cost of risk."
Please register here: http://emea.directeventreg.com/registration/4397238
The presentation for the conference call will be available here as of 17 May 2019, at 09:00 CEST.
Mogo Finance operates through its own branch network, more than 1,500 partner locations and strong online presence. Physical footprint makes Mogo Finance top of mind brand in used car financing. Established in 2012, headquartered in Riga, Latvia Mogo Finance operates in: Latvia, Estonia, Lithuania, Georgia, Poland, Romania, Bulgaria, Moldova, Albania, Belarus, Armenia, Ukraine, Uzbekistan, Kazakhstan and North Macedonia.
This announcement does not constitute an offer of securities for sale in the United States. The bonds have not been and will not be registered under the Securities Act or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
This announcement does not constitute a prospectus for the purposes of Directive 2003/71/EC, as amended (the "Prospectus Directive") and does not constitute a public offer of securities in any member state of the European Economic Area (the "EEA").
This announcement does not constitute an offer of bonds to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the bonds. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "Relevant Persons"). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.
PROFESSIONAL INVESTORS ONLY - Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as the bonds do not constitute packaged products and will be offered to eligible counterparties and professional clients only.
15.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Mogo Finance S.A.|
|8-10 avenue de la Gare|
|Listed:||Regulated Market in Frankfurt (General Standard)|
|EQS News ID:||812109|
|End of News||DGAP News Service|