Ferratum Oyj : Ferratum Group releases final figures for the financial year 2014

GlobeNewswire

Helsinki/Berlin, March, 27 2015 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS; together with its consolidated subsidiaries hereinafter "Ferratum Group" or "Ferratum"), an international provider of mobile consumer loans headquartered in Helsinki, is today releasing its consolidated financial statements as at December, 31 2014 drawn up in accordance with IFRS. The final, audited figures confirm the company`s positive performance in the financial year 2014.

These figures show that Ferratum lifted revenues by 21.2% to EUR 70.5 million, up from EUR 58.2 million, thereby setting a new record. The positive revenue development is especially attributable to the increase in the number of customers, which were up to around one million in the financial year 2014 (2013:0.8 million customers). Adjusted for the non-recurrent costs of the IPO, Ferratum generated earnings before interest and tax (EBIT) of EUR 11.8 million from its operations. The adjusted EBIT margin came in at 16.7%. Also when including the IPO-related costs, EBIT climbed by 44.8% to EUR 10.6 million (2013: EUR 7.3 million), resulting in an EBIT margin of 15.1% (2013: 12.6%). Growth in profitability was promoted in particular by an optimised risk management system: with a larger portfolio of EUR 61.5 million (2013: EUR 44.7 million) in customer receivables (microloans), the risk provision was reduced to EUR 20.4 million in the period under review, down from EUR 21.6 million in the financial year 2013. Adjusted earnings before tax (EBT) grew significantly to EUR 7.7 million (EUR 6.5 million after IPO-related costs; 2013: EUR 3.9 million), bringing the adjusted EBT margin to 10.9% (9.3% after IPO-related costs; 2013: 6.7%). As a result, the Group`s profit was raised to a record figure of EUR 6.8 million (EUR 5.6 million after IPO-related costs), compared with the previous year`s figure of EUR 3.5 million, which corresponds to earnings per share of EUR 0.36 (with 18,744,200 shares at the end of the reporting period). Taking account of the IPO-related costs, earnings per share stood at EUR 0.31 (2013: EUR 0.19).

Jorma Jokela, founder and CEO of the Ferratum Group, summarised the year 2014 as follows and looks to the future with optimism: "The financial year 2014 was the most successful year in the company`s 10-year history, marking a significant increase in revenue and profitability. On top of this, Ferratum received around EUR 48 million in growth capital from its successful IPO. We have now set in place a key prerequisite for moving ahead with dynamic and profitable growth."

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