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Ferratum Capital Germany GmbH: Ferratum Group publishes interim report for the first nine months 2013


Ferratum Capital Germany GmbH / Key word(s): Quarter Results

15.11.2013 / 18:05


Ferratum Group publishes interim report for the first nine months 2013

- Further growth with revenue increase of 16.8 % yoy

- Customer Base grew by 33.2 % yoy

- Preparations for market entry in Germany and Rumania: Further profitable growth of the company is expected

Berlin, November 15, 2013 - The Ferratum Capital Germany GmbH, the German corporation to Ferratum Group, the pioneer for mobile micro-credits in Europe, announces the consolidated financial statements for the first nine months of the business year 2013 today. The Finnish parent of the group JT Family Holding Oy therefore serves as guarantor for the bond in the Entry Standard of Frankfurt Stock Exchange that was successfully placed in October 2013.

As a result of the consequently pursued expansion strategy, Ferratum Group was able to increase its customer base by 33.2 % to 1.8 million customers during the first three quarters of 2013 in comparison to the end of the reporting period 2012 (2012: 1.3 million customers). Accordingly, revenues were above the previous year's level: The revenue of Ferratum Group clearly increased during the first nine months of 2013 by 16.8 % to EUR 40.5 million (Q1-Q3 2012: EUR 34.7 million).

Jorma Jokela, founder and CEO of the Ferratum Group, comments the business development: 'After successfully integrating our businesses in Poland and Slovakia under the Ferratum Bank, we now begin to see advantages the consolidation brings along. We also managed to further extend our already wide customer base existing in 18 markets. It is our long-term goal to become the worldwide market leader for mobile micro credits. The underlying profitability of our business model remains strong, although the margin declined compared to the period of the preceding year due to higher operative costs in the context of the expansion as well as unique costs for the bond placement. Overall, we consider the business development as proof for our operating strength and the very good base for the capability of debt servicing.'

For the realization of future company growth the Ferratum Group has obtained the banking license in Malta in 2012. The Ferratum Bank Ltd., an affiliate of Ferratum Group, successfully started its business activities in March 2013. The bank serves as a platform for further international activities and enables the optimization of the business model in existing countries. Channeling the business activities via the Bank entity and consolidation in the European markets has brought along the increase in the infrastructural costs of the Group. In addition, unique consulting costs in the context of the successful bond placement in Germany fell partly into this reporting period of 2013. Therefore the increased operational costs by EUR 2.3 million were responsible for the lower profitability. Earnings before interests and taxes (EBIT) decreased in the reporting period to EUR 4.8 million (Q1-Q3 2012: EUR 5.7 million). Earnings before taxes (EBT) were EUR 2.8 million in the reporting period.

Jorma Jokela is confident of the future: 'Since its foundation in 2005 the Ferratum Group has always been profitable and this was the case for the first nine months of 2013. With an equity ratio of around 30 % we have a solid balance sheet structure at our disposal. For a further positive business development we set the course with the banking license as well as with the bond placement in Germany. Overall, I regard Ferratum being positioned for a sustainable and profitable growth of our customer oriented business model.' Consequently, Ferratum has prepared for the market entry in Germany in the third quarter as well as initiated the preparations for the market entry in Rumania.

The entire interim report for the first nine months 2013 can be downloaded from the Website www.ferratumgroup.com in the section 'bond' from now on.

Contact:

Ferratum Group 
Dr. Clemens Krause 

T: +49 30 88715308    
F: +49 30 88715309    
M: [email protected]  

cometis AG
Henryk Deter | Mariana Kuhn

T: +49 611 20 58 55-61
F: +49 611 20 58 55-66
M: [email protected]



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