NEO Finance, AB Interim financial information for 2023 H1

Please find attached interim information for the H1 2023 of NEO Finance AB (hereafter – the Company) – sales results and unaudited financial data.

In the first half of 2023, “NEO Finance”, AB demonstrated positive growth in all business segments. The volume of loans granted increased by 18.5%, and revenues grew by 36.4%. Income related to peer-to-peer lending experienced a significant increase of 40.3%, while revenue from electronic money issuance and management rose by 27.4%, and investment activity generated a notable growth of 43.6%.

The company’s EBITDA soared by 193%, reaching 366.6 thousand EUR during the first half of this year. Continuously improving its pre-tax profit line, the company achieved a pre-tax profit of 171.8 thousand EUR in the first half of 2023, while in the same period in 2022, it incurred a loss of 12.2 thousand EUR.


Based on unaudited data, in the first half of 2023:

• Loans granted amounted to 20,861 thousand EUR. Compared to the same period in 2022, the volume of issued loans increased by 18.5%.

• Cost of sales increased by 31%, from 774 thousand EUR to 1,014 thousand EUR.

• Operating costs increased by 18%, from 781,482 thousand EUR to 922,000 thousand EUR.

• EBITDA grew by 193%, from 125,021 EUR to 366,601 EUR.

• In the first half of 2023, pre-tax profit amounted to 171,807 EUR, while in the first half of 2022, a loss of 12,286 EUR was recorded.

2023 H1 2022 H1 ∆, %
Loans granted, EUR 20 861 211 17 609 213 18.5%
Income, EUR 2 107 903 1 544 972 36.4%
Income related to peer-to-peer lending activities, EUR 1 406 280 1 002 159 40.3%
Income related to issuing and handling e-money, EUR 611 024 479 721 27.4%
Income from investment activities, EUR 90 599 63 093 43.6%
Cost of sales, EUR (1 014 207) (774 166) 31%
Total revenue, EUR 1 093 696 770 806 41.9%
Operating costs, EUR (921 889) (781 482) 18%
EBITDA, EUR 366 601 125 021 193.2%
Profit / loss before tax, EUR 171 807 (12 286)
EBITDA margin, % 17.4% 8.1%
Return on equity ratio (ROE), % 6.4% (0.5%)

Results of business segments

„Paskolų Klubas“

The results of the first half of the year demonstrate excellent growth and successful operations. The amount of loans financed on the “Paskolų Klubas” platform during this period exceeded 20.8 million EUR, which is 19% more compared to the same period last year when the total financed loans amounted to 17.6 million EUR. The “Paskolų Klubas” team continues to actively and innovatively work on attracting loan recipients, and with favorable market conditions, they successfully increase their market share in the consumer lending segment and compete effectively with established players in the market.

We are particularly pleased with the second quarter of this year, as it marked several records. Firstly, we listed more than EUR 354,900 worth of credits on the primary market in a single day – historically the highest number of consumer loan applications. In June, a record amount of loans, exceeding 4.2 million EUR, was financed through the platform. Moreover, in June, we paid a record interest amount to investors, surpassing 600,000 EUR.


NEOPAY’s second quarter of this year proved to be quite successful, as the transaction volume increased by 36% compared to the same quarter in 2022. We took another step forward in the Polish market by successfully adding a new product – BLIK – to our portfolio. This payment settlement product already holds over 70% of the market share. With the introduction of this product into our existing offering, we expect faster expansion and consolidation in the Polish market. Furthermore, this quarter marked the emergence of the first customers who integrated the “Neopay 3“ (“Buy now – pay later”) service into their online stores. The Baltic countries and Poland remain our largest markets in terms of transaction volume. We are delighted to see our foothold in the Polish market growing stronger.


The crowdfunding platform “FinoMark” acted as an intermediary for issuing business loans amounting to EUR 930 thousand in Q2 of 2023, compared to EUR 416 thousand of business loans financed in the same quarter of 2022. The company’s revenues for the first half of 2023 reached EUR 163 thousand, whereas they amounted to EUR 68 thousand in the first half of 2022. As “FinoMark” is still in the early stages of its operation, it has not yet generated positive pre-tax profit for the first half of 2023, which amounted to EUR -68.3 thousand. The key factor ensuring stable and sustainable growth of the platform is the “FinoMark” team. Thanks to their efforts, we continue to increase sales revenues and expand the loan portfolio every quarter. The team’s innovative approach and eagerness to grow allow us to quickly and efficiently adapt technological solutions, creating services that meet the needs of modern investors and loan recipients.


Tomas Savickas

Chief Financial Officer


The full interim report of NEO Finance AB (legal entity code: 303225546; registered address: Vivulskio g. 7, Vilnius, Lithuania) for the H1 of 2023, with confirmation by the responsible persons, are available for review in the attached document.