EQS-News

4FINANCE HOLDING S.A. REPORTS RESULTS FOR THE SIX MONTHS ENDING 30 JUNE 2024 30.08.2024, 14:53 Uhr von EQS News Jetzt kommentieren: 0

Werte zum Artikel
Name Aktuell Diff. Börse
4 Finance Unternehmensanleihe 11,25 % bis 05/28 103,15 % -0,29 % Quotrix Düsseldorf

EQS-News: 4finance S.A. / Key word(s): Half Year Results
4FINANCE HOLDING S.A. REPORTS RESULTS FOR THE SIX MONTHS ENDING 30 JUNE 2024 (news with additional features)

30.08.2024 / 14:53 CET/CEST
The issuer is solely responsible for the content of this announcement.


 

4finance Holding S.A. reports results

for the six months ending 30 June 2024

Continued profitable growth with net profit of €22.9 million and Adjusted EBITDA of €75.1 million

Strong balance sheet and cash position

30 August 2024. 4finance Holding S.A. (the ‘Group’ or ‘4finance’), one of Europe’s largest digital consumer lending groups, today announces unaudited consolidated results for the six months ending 30 June 2024 (the ‘Period’).

Operational highlights

  • Online loan issuance volume of €278.2 million in the Period compared with €277.1 million in the prior year period. Demand for credit remains strong in most markets, with growth driven by the Czech Republic and Spain.
  • New growth opportunities: taking a deliberate, step-by-step approach. The UK joint venture (ondal.co.uk) and the Mexican business (kimbi.mx) progressing steadily, showing gradual growth.
  • TBI Bank loan issuance increased by 24% to €531.5 million in the Period, compared to €427.8 million in H1 2023.

Financial Highlights

  • Interest income up 13% year-on-year to €212.7 million in the Period compared with €187.9 million in H1 2023.
  • Cost to income ratio for the Period was 42.4%, an improvement from 44.7% in the prior year period, despite the increase in total operating costs year-on-year.
  • Adjusted EBITDA was €75.1 million for the Period, up 28% year-on-year, delivering 35% Adjusted EBITDA margin. The interest coverage ratio as of the date of this report is 2.0x, impacted by the increased interest expense at TBI Bank in recent quarters.
  • Net profit for the Period was €22.9 million, a 36% increase from €16.9 million in the prior year period.
  • Fundamental asset quality indicators at product level remain broadly stable. Group’s net impairment charges of €82.0 million reflect the larger portfolio and different product mix in online. Cost of risk at 13.0% for 6M 2024, a slight improvement from Q1 2024.
  • Net receivables up 8% to €1,173.4 million as of 30 June 2024 compared with €1,084.4 million as at year end 2023.
  • Overall gross NPL ratio at 9.6% as of 30 June 2024 (13.4% for online), compared with 9.4% as of 31 December 2023 (14.2% for online). TBI NPL ratio at 9.0% as of 30 June 2024, compared with 8.6% as of 31 December 2023.

Liquidity and funding

  • Strong liquidity position, with €47.2 million of cash in the online business at the end of the Period.
  • The balance of the related party loan to 4finance Group S.A. was reduced to €10 million in July.
  • The Group’s EUR 2028 bonds were listed on the Nasdaq Baltic First North on 29 August.

 

Kieran Donnelly, CEO of 4finance, commented:

“We have seen strong results for the first half of the year, with continued net profitability of €23 million, up 36% year-over-year, and Adjusted EBITDA of €75 million, up 28% from last year. 

“TBI Bank’s quarterly net receivables have surpassed €1 billion for the first time, as the bank continues to grow profitably.

“Our measured approach to new operations is also delivering, with our UK joint venture making its first profits, just 15 months after launch.

“These results reflect our solid performance and positive outlook.”

Contacts

Contact:   James Etherington, Group Chief Financial Officer / Liene Kuģeniece, IR & Finance Coordinator
Email:   james.etherington@4finance.com / investor_relations@4finance.com / liene.kugeniece@4finance.com
Website:   www.4finance.com

 


Additional features:

File: 4finance report on H1 2024 results


30.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: 4finance S.A.
8-10 Avenue de la Gare
1610 Luxembourg
Grand Duchy of Luxembourg
E-mail: info@4finance.com
ISIN: XS1417876163, SE0006594412, XS1092320099, XS1094137806,
WKN: A181ZP
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Dublin
EQS News ID: 1978897

 
End of News EQS News Service

1978897  30.08.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1978897&application_name=news&site_id=boersennews_de~~~d41e2cc8-bdcb-47ba-bb51-c77a04513666
Kommentare (0) ... diskutiere mit.
Werbung

Handeln Sie Aktien bei SMARTBROKER+ für 0 Euro!* Profitieren Sie von kostenloser Depotführung, Zugriff auf 29 deutsche und internationale Börsenplätze und unschlagbar günstigen Konditionen – alles in einer innovativen, brandneuen App. Jetzt zu SMARTBROKER+ wechseln und durchstarten!

*Ab 500 EUR Ordervolumen über gettex. Zzgl. marktüblicher Spreads und Zuwendungen.

k.A. k.A. k.A. k.A.
k.A. k.A. k.A. k.A.
k.A. k.A. k.A. k.A.
Schreib den ersten Kommentar!

Dis­clai­mer: Die hier an­ge­bo­te­nen Bei­trä­ge die­nen aus­schließ­lich der In­for­ma­t­ion und stel­len kei­ne Kauf- bzw. Ver­kaufs­em­pfeh­lung­en dar. Sie sind we­der ex­pli­zit noch im­pli­zit als Zu­sich­er­ung ei­ner be­stim­mt­en Kurs­ent­wick­lung der ge­nan­nt­en Fi­nanz­in­stru­men­te oder als Handl­ungs­auf­for­der­ung zu ver­steh­en. Der Er­werb von Wert­pa­pier­en birgt Ri­si­ken, die zum To­tal­ver­lust des ein­ge­setz­ten Ka­pi­tals füh­ren kön­nen. Die In­for­ma­tion­en er­setz­en kei­ne, auf die in­di­vi­du­el­len Be­dür­fnis­se aus­ge­rich­te­te, fach­kun­di­ge An­la­ge­be­ra­tung. Ei­ne Haf­tung oder Ga­ran­tie für die Ak­tu­ali­tät, Rich­tig­keit, An­ge­mes­sen­heit und Vol­lständ­ig­keit der zur Ver­fü­gung ge­stel­lt­en In­for­ma­tion­en so­wie für Ver­mö­gens­schä­den wird we­der aus­drück­lich noch stil­lschwei­gend über­nom­men. Die Mar­kets In­side Me­dia GmbH hat auf die ver­öf­fent­lich­ten In­hal­te kei­ner­lei Ein­fluss und vor Ver­öf­fent­lich­ung der Bei­trä­ge kei­ne Ken­nt­nis über In­halt und Ge­gen­stand die­ser. Die Ver­öf­fent­lich­ung der na­ment­lich ge­kenn­zeich­net­en Bei­trä­ge er­folgt ei­gen­ver­ant­wort­lich durch Au­tor­en wie z.B. Gast­kom­men­ta­tor­en, Nach­richt­en­ag­en­tur­en, Un­ter­neh­men. In­fol­ge­des­sen kön­nen die In­hal­te der Bei­trä­ge auch nicht von An­la­ge­in­te­res­sen der Mar­kets In­side Me­dia GmbH und/oder sei­nen Mit­ar­bei­tern oder Or­ga­nen be­stim­mt sein. Die Gast­kom­men­ta­tor­en, Nach­rich­ten­ag­en­tur­en, Un­ter­neh­men ge­hör­en nicht der Re­dak­tion der Mar­kets In­side Me­dia GmbH an. Ihre Mei­nung­en spie­geln nicht not­wen­di­ger­wei­se die Mei­nung­en und Auf­fas­sung­en der Mar­kets In­side Me­dia GmbH und de­ren Mit­ar­bei­ter wie­der. Aus­führ­lich­er Dis­clai­mer