07.03.2017
Ferratum Oyj FI4000106299
DGAP-News: Ferratum Oyi: Ferratum Group achieves record Q4 performance and strong full year 2016 results in line with guidance
DGAP-News: Ferratum Oyj / Key word(s): Preliminary Results
Ferratum Oyi: Ferratum Group achieves record Q4 performance and strong full
year 2016 results in line with guidance (news with additional features)
07.03.2017 / 07:50
The issuer is solely responsible for the content of this announcement.
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Helsinki, March 7, 2017 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS)
("Ferratum" or the "Group") announces strong preliminary unaudited results
for the 12 months ended 31 December 2016 (the "Period").
Financial highlights
* Record Group revenue for the Period of EUR 154.1 million - up 39%
year-on-year
* Record Q4 2016 revenue of EUR 45.5 million - up 43% year-on-year
* Operating profit (EBIT) for the Period of EUR 21.1 million - up 28%
year-on-year
* EBIT margin for the Period of 13.7%
* Strong positive operating cash flow of EUR 23.7 million
* EPS (basic and diluted) increased 17.6% to EUR 0.60 per share
* EUR 20 million Ferratum bond expiring in January 2017 (WKN: A1Z4JU)
replaced with a new EUR 25 million bond (WKN: A189MG)
* Cost of capital reduced significantly to 5.25% in 2016 (2015: 8.02%)
Operational highlights
* Gross book value of loan portfolio increased 58% to EUR 247 million
* Net book value of loan portfolio (net of risk provisions) grew by 73% to
EUR 184 million
* Portfolio quality further improved: impaired loan coverage ratio reduced
to 25.4% at Period end (2015: 31.5%)
* Management actions taken in 3Q 2016 to accelerate growth have been
effective
* Strong recovery of growth in consumer lending driven by new customers and
demand from existing Microloan customers for bigger and longer term
products such as Credit Limit and PlusLoans
* Ferratum Business (SME) lending, launched in Q2 2015, contributed EUR 4.3
million to Ferratum's revenues over the Period
* Ferratum Mobile Bank launched in Germany, Norway and Sweden
* Deposit volume at the Period end over EUR 100 million, exceeding
Ferratum's expectations
* Active/former customers increased 27% to 1.6 million
* New customers during the Period increased 21% to 330,145 (2015: 272,787)
3 months ended 12 months ended
31 December 31 December
Key Figures, EUR '000 2016 2015 2016 2015
Revenue 45,483 31,829 154,128 111,008
Operating profit (EBIT) 6,911 4,266 21,142 16,478
Profit before tax 5,272 3,024 14,728 12,419
Profit before tax % 11.6% 9.5% 9.6% 11.2%
Earnings per share, basic
(EUR) 0.21 0.13 0.60 0.51
Earnings per share, diluted
(EUR) 0.21 0.12 0.60 0.51
CEO and Founder Jorma Jokela commented: "2016 has been another year of
strong, profitable growth for Ferratum, during which we took decisive steps
to restore the momentum of revenue growth and profitability to deliver full
year results in line with our guidance. Our actions in Q3 to reorganize our
management structures, invest in more scalable IT architecture and systems
and focus on core business growth delivered a record performance over the
last quarter - both in terms of absolute revenue growth and profitability -
and current trading gives us confidence that this momentum is continuing
into 2017."
Strategic Developments
2016 has been a significant year in Ferratum's journey to become a leading
international mobile bank, marked by the launch of our app-based Mobile
Bank in three markets: Germany, Norway and Sweden. Since launch, demand in
these markets has exceeded our expectations, attracting over EUR 100
million in total deposits. This positive development provides Ferratum with
a very strong liquidity position of EUR 73 million at the year-end 2016 and
is a solid base for further growth in 2017.
We expect to build on this momentum by launching the Mobile Bank in several
more countries over the year ahead, as well as rolling out Credit Limit,
PlusLoans and Ferratum Business (SME) lending in additional countries
during 2017.
In the final quarter of 2016, Ferratum Bank Plc successfully refinanced a
EUR 20 million bond expiring in January 2017 with a EUR 25 million senior
unsecured bond maturing in March 2020. The additional capital raised
further supports the Group's strong financial position and ability to
enhance and expand Ferratum's offering to the Group's customers.
As of March 1, 2017, the two bonds issued by Ferratum Capital Germany GmbH
- Ferratum Capital Germany GmbH 8% 2018 (WKN: A1X3VZ) and Ferratum Capital
Germany 4.875% 2019 (WKN: A2AAR2) - have commenced trading on Scale,
Deutsche Börse's new market segment for small and medium-sized enterprises.
2017 Outlook
The Board of Directors of Ferratum Oyj reconfirms that revenues for the
fiscal year 2017 are expected to range between EUR 200 million and EUR 225
million. The operating profitability margin (EBIT margin) is expected to
range between 13% and 16%.
Ferratum Oyj bases this guidance on certain assumptions, including:
* Consumer credit volumes continue to grow, exceeding the market average,
based on new customers, continued diversification of consumer lending
products and growth in new markets.
* Ferratum Business (SME) lending continues to gain market share in the 5
existing markets. Ferratum plans to introduce the product in additional
markets during 2017.
* The Ferratum Mobile Bank is rolled out in additional countries and
generates new customers, retains customer loyalty, stimulates cross
selling, increases deposit volume and diversifies deposit currencies.
* There are no material negative changes in the consumer and business
credit markets of relevance to Ferratum.
* Stable capital market conditions.
* There are no unexpected significant new regulatory challenges or changes.
About Ferratum Group:
Ferratum is an international provider of consumer and small business loans,
distributed and managed by mobile devices. Founded in 2005 and
headquartered in Helsinki, Finland, Ferratum is a pioneer in the fields of
financial technology and mobile lending and has expanded rapidly to operate
in 23 countries. Ferratum's customers utilize digital media to apply for
consumer credit in amounts varying between EUR 25 and EUR 5,000 and small
businesses instalment loans up to EUR 100,000 with a term of six to twelve
months. Led by its founder, Jorma Jokela, Ferratum has more than 1.6
million active and former customers who have been granted one or more loans
in the past (as at 31 December 2016).
Ferratum Group is listed on the Prime Standard of Frankfurt Stock Exchange
under symbol 'FRU.' For more information, visit www.ferratumgroup.com.
Contacts:
Ferratum Group
Dr. Clemens Krause, CFO
T: +49 30 88715308
F: +49 30 88715309
E: [email protected]
European media enquiries:
Edelman.ergo, A Daniel J Edelman Company
Alexander Schmidt | Andreas Martin
T: +49 69 27 13 89 26
E: [email protected]
E: [email protected]
Ferratum Group
Paul Wasastjerna
Head of Investor Relations
T: +358 40 7248247
F: +358 20 741 1614
E: [email protected]
UK media enquiries:
Smithfield, A Daniel J Edelman Company
Alex Simmons | Brett Jacobs
T: +44 20 7903 0669 | +44 20 7903 0675
E: [email protected]
E: [email protected]
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=SLYOFAGIDE
Document title: Ferratum Oyi: Preliminary Result
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07.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Ferratum Oyj
Ratamestarinkatu 11 A
00520 Helsinki
Finland
Internet: https://www.ferratumgroup.com
ISIN: FI4000106299
WKN: A1W9NS
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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