NEO Finance AB
Please find attached interim information for the H1 2022 of NEO Finance AB (hereafter – the Company) – sales results and unaudited financial data.
In the first half of 2022, NEO Finance AB continued to increase the volume of issued loans. In the first half of 2022, the platform funded EUR 17.609M, 37% more than in the first half of 2021. Meanwhile, revenue decreased by 2% to EUR 1 545K compared to the same period of 2021 (EUR 1 583K). The Company’s EBITDA for the first half of 2022 was EUR 125K, while in the first half of 2021 this figure was EUR 312K.
The negative change was caused by the increased general expenses and the sale of the defaulted loan portfolio. Accordingly, the loss before tax in the first half of 2022 was (EUR 12K), while in the first half of 2021 a profit before tax of EUR 189K was achieved.
|H1 2022||H1 2021||∆, %|
|Loans granted, EUR||17 609 214||12 830 862||37%|
|Income, EUR||1 544 972||1 583 262||-2%|
|Sales expenses, EUR||(774 166)||(716 448)||8%|
|Gross profit/loss, EUR||770 806||866 774||-11%|
|General and administrative expenses, EUR||(781 482)||(671 860)||16%|
|EBITDA, EUR||125 021||312 317||-60%|
|Profit/loss before tax, EUR||(12 286)||189 095|
|Income tax, EUR||8%||20%|
|Net profit/loss, EUR||-1%||11%|
In the first half of 2022, the brokerage fee receivable on newly concluded loans, which is the largest source of income in peer-to-peer lending activities, amounted to EUR 2.438M. This income will be received throughout the disbursement period of the loans. Compared to the first half of 2021, brokerage fee revenue grew by 82%.
The volume of payment initiation services also grew in the first half of 2022 – Neopay customers performed almost 9.536M units of transactions. Compared to the first half of 2021, during which 7.304M units were processed, the volume of transactions increased by 30.6%.
In the first half of 2022, the FinoMark crowdfunding platform issued business loans for EUR 916K.
Head of Finance
The full interim report and financial statements of NEO Finance AB (legal entity code: 303225546; registered address: Vivulskio g. 7, Vilnius, Lithuania) for the H1 of 2022, with confirmation by the responsible persons, are available for review in the attached document.