Interim financial information for 2023 Q1

NEO Finance AB 2023 Q1 Interim financial report

Please find attached interim information for the Q1 2023 of NEO Finance AB (hereafter – the Company) – sales results and unaudited financial data.

In 2023 1st quarter, NEO Finance, AB continued to increase the volume of all business segments. The company’s income increased by 28 percent during the 1st quarter of 2023 and reached 1 014 thousand EUR. For comparison, in 2022 Q1, they reached 793 thousand EUR income related to P2P lending activity had the greatest impact on income growth, it grew by 34 percent. In addition, income related to payment activities grew by 21 percent.

2023 Q1 2022 Q1 ∆, %
Loans granted, EUR 9 956 043 7 075 335 41%
Income, EUR 1 013 626 793 048 28%
Income related to peer-to-peer lending activities, EUR 689 280 515 542 34%
Income related to issuing and handling e-money, EUR 287 643 238 452 21%
Income from investment activities, EUR 36 703 39 054 -6%
Cost of sales, EUR (481 273) (383 183) 26%
Total revenue, EUR 532 353 409 865 30%
Operating costs, EUR (460 451) (337 353) 36%
EBITDA, EUR 166 559 72 512 130%
Profit / loss before tax, EUR 71 902 7 110  911%
EBITDA margin, % 16% 9%
Return on equity ratio (ROE), % 3% 0%

Results of business segments

„Paskolų Klubas“

During the 1st quarter of 2023, loans for EUR 9.95 million were granted in Paskolų Klubas platform – as much as 41 percent more than in 2022 the first quarter. In March, we enjoyed an all-time record of loan applications approved in one day – the amount of loans placed on the market for investment reached EUR 345 660. With the growth of loan volumes, the administered portfolio and the income of this segment, the Company earned a positive EBITDA, which reached EUR 38 thousand in the first quarter of this year in the Paskolų Klubas business segment


In 2023 1st quarter, the volume of payment initiation services grew – Neopay customers performed almost 6.5 million units of transactions – even 41% more compared to the 1st quarter of 2022, during which 4.7 million units of transactions were performed. In March, we achieved another solid record: we initiated 2.43 million transactions per month. In the open banking business segment, we not only earned record quarterly revenues, which reached EUR 287 thousand in the 1st quarter of this year, but also recorded a six-digit EBITDA value, maintaining a rapid growth in the number of transactions.


The crowdfunding platform FinoMark mediated the issuance of business loans for 1.5 million EUR in the 1st quarter of 2023, for comparison, 0.5 million EUR loans were financed in the 1st quarter of 2022. The company’s income in the 1st quarter of 2023 reached 77 thousand EUR, but in the 1st quarter of 2022 it reached 35 thousand EUR. UAB Finomark’s activities are still gaining momentum, so this quarter it was not yet possible to achieve positive EBITDA and pre-tax profit indicators, which reached EUR -27 thousand and EUR -41 thousand respectively.


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 Q1 of 2023, with confirmation by the responsible persons, are available for review in the attached document