Results Centre

Review 2015

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Ready for next Milestones

The consistent implementation of our growth strategy had a positive impact on Ferratum´s development in 2015. We can once again announce a record year with significant increases in revenues and profitability. With our EU banking license, the self-learning Big Data technology and our established lending business in 23 countries, we are excellently positioned to play a key role in shaping the digital revolution in the banking sector. The course is set for further growth.« Jorma Jokela, CEO and founder of Ferratum Group.

The Growth Drivers for Sustainable Business Development

Geographic expansion
Market entries in 4 countries in 2015 bring us closer to our goal to extend our business activities to 30 countries in the medium-term.

Diversified product portfolio
We have established 4 different loan products and will gradually introduce them into existing markets while working on the further expansion of the product portfolio.

Mobile Bank
The preparations have been completed. Now we are ready for the launch. The introduction of the Mobile Bank in the European market is the most important strategic goal for 2016.

Profitable Growth continued

Adjusted by the IPO costs, operating profit (EBIT) improved by 43.9% to EUR 17.0 million (2014: EUR 11.8 million), which corresponds to an adjusted EBIT margin of 15.3%. Adjusted earnings before taxes (EBT) rose by 67.5% in the reporting period to EUR 12.9 million (2014: EUR 7.7 million), which corresponds to an adjusted EBT margin of 11.6%. As a result, net income adjusted for IPO expenses of EUR 6.8 million last year increased to EUR 11.4 million in fiscal year 2015.

New Record level achieved

Ferratum Group continued its positive growth trend in 2015 by achieving new records in terms of revenues of EUR 111.0 million and operating profit of EUR 16.5 million. Ferratum Group thus achieved its goals in fiscal year 2015 and set crucial impulses for further growth in 2016.

Financial Highlights

Financial highlights, EUR ’000 Jan - Dec 2016 Jan - Dec 2015 Jan - Dec 2014
Revenue 154,128 111,008 70,508
Operating profit 21,142 16,478 10,611
Profit before tax 14,728 12,419 6,531
Net cash flows from operating activities before movements in loan portfolio and deposits received 50,857 46,355* 27,316
Net cash flow from operating activities 23,733 (32,690) (8,876)
Net cash flow from investing activities (8,266) (5,450) (1,918)
Net cash flow from financing activities 40,857 47,625 1,722
Net increase/decrease in cash and cash equivalents 56,324 9,485 (9,071)
Profit before tax % 9.6 11.2 9.3

*restated: the amount of Increase / decrease in interests accrued was taken out and included to net cash flows from operating activities (after movements in loan portfolio)


Financial highlights, EUR ’000 Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014
Accounts receivable – consumer loans (net) 184,346 106,758 61,529
Deposits from customers 101,436 3,009 2,137
Cash and cash equivalents 73,059 17,452 8,026
Total assets 295,683 140,127 79,805
Non-current liabilities 72,246 48,927 28,885
Current liabilities 135,563 13,562 29,477
Equity 87,875 77,638 21,443
Equity ratio % 29.7 55.4 26.9
Net debt to equity ratio 1.53 0.58 2.35
Calculation of key financial ratios        
Equity ratio (%) = 100 X Total equity
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Total assets
Net debt to equity ratio =     Total liabilities – cash and cash equivalents
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Total equity
Profit before tax (%) = 100 X Profit before tax
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Revenue