Eleving Group S.A.
Mogo Finance reports Unaudited results for the six months ended 30 June 2019
DGAP-News: Mogo Finance S.A. / Key word(s): Half Year Results Mogo Finance reports Unaudited results for the six months ended 30 June 2019 Investments in growth pay off as profitability
– Group loans issued increased strongly by 30.3% equaling EUR 83.4 million (6M 2018: EUR 64.0 million), of which EUR 48.8 million in mature markets (6M 2018: EUR 48.3 million) – Consolidated number of active customers up significantly by approx. 53.8% to over 100,000 (31 December 2018: approx. 65,000) – Mid-tier countries Moldova and Romania, as well as Start-up country Belarus, have reached profitability (before FX) on a monthly basis – Historic milestone reached in financial return: eight out of fifteen countries (31 December 2018: five out of thirteen) became profitable (before FX).
– Interest and similar income including income from rent up strongly by 33.8% to EUR 35.2 million (6M 2018: EUR 26.3 million) – Rapid growth in net interest income of 31.4% to EUR 24.7 million (6M 2018: EUR 18.8 million) – Significant increase in EBITDA by 66.7% to EUR 15.0 million (6M 2018: EUR 9.0 million) – Net profit for the period improved notably by 76.2% to EUR 3.7 million (6M 2018: EUR 2.1 million)
However, we are particularly proud of the fact that investments in portfolio and product growth not only pay off through operational excellence but also make it easier to control risk costs at the same time. Our stable NPL ratios benefit equally from economies of scale and economies of scope and can be further optimized through our comprehensive management procedures. Mogo Group, with a further improvement in financial performance in the medium and long term, has promising prospects for the future development of the company.” The full unaudited report for the six months ended 30 June 2019 is available under https://mogo.finance/investment/results-and-reports/.
Please register http://emea.directeventreg.com/registration/7680644 Contact: Simonas Jurgionis, Investor Relations Manager Aalto Capital
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.
14.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Mogo Finance S.A. |
8-10 avenue de la Gare | |
1610 Luxembourg | |
Luxemburg | |
Internet: | www.mogofinance.com |
ISIN: | XS1831877755, LV0000801363 |
Listed: | Regulated Market in Frankfurt (General Standard) |
EQS News ID: | 857663 |
End of News | DGAP News Service |