Helsinki/Berlin, August 10, 2016 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS), a pioneer in the field of financial technology and an international provider of mobile banking services has announced changes in reporting of its operating segments.
Ferratum's Board of Directors has decided to change the Group's operating segments from geographical to product base. This change already takes effect in the H1 report 2016. Operating segments are now based on the five major product types provided by Ferratum: Microloan, PLUS Loan, Credit Limit, Ferratum Business (SME) and Other (FerBuy, Ferratum P2P and Mobile Bank).
Non-directly attributable costs are allocated according the share in revenue and finance costs are allocated according the portfolio size of related types of products, i.e. their share in total accounts receivable - consumer loans.
In order to further increase transparency and in terms of continuity the Board of Directors of Ferratum Group also continues reporting revenues by geographical principle. All the countries where the Group has operating activities are combined into the following four regions (1) Nordics including Finland, Sweden, Denmark and Norway, (2) BCN including Netherlands, UK, New Zealand, Australia and Canada, (3) Northeast including Estonia, Latvia, Lithuania, Poland, Czech, Slovakia and Russia, and (4) Other (Southeast and West) including Bulgaria, Romania, Croatia, Spain, Germany, France and Mexico.
Business segments Year-End 2015
EUR '000
|
Micro
loan
|
PLUS Loan |
Credit Limit |
Ferratum Business |
Other* |
Total |
Revenue
| 58,510 | 12,678 | 39,398 | 373 | 50 | 111,008 |
Share in Revenue, %
| 52.7% | 11.4% | 35.5% | 0.3% | 0.0% | 100.0% |
| | | | | | |
Directly attributable cots:
| | | | | | |
Impairments
| (23,399) | (3,159) | (7,909) | (138) | (82) | (34,687) |
Marketing
| (6,208) | (3,212) | (9,381) | (120) | (1,125) | (20,046) |
Attributable Product Margin
| 28,904 | 6,307 | 22,107 | 115 | (1,158) | 56,275 |
| | | | | | |
Non-directly attributable costs:
| | | | | | |
Personnel expenses
| (8,712) | (1,888) | (5,866) | (55) | (490) | (17,010) |
Lending costs
| (3,753) | (813) | (2,527) | (24) | - | (7,116) |
Other administrative expenses
| (575) | (125) | (387) | (4) | (161) | (1,251) |
Depreciation and amortization
| (679) | (147) | (457) | (4) | (22) | (1,309) |
Other operating expenses
| (6,561) | (1,422) | (4,418) | (42) | (668) | (13,110) |
Total Non-directly attributable costs
| (20,278) | (4,394) | (13,654) | (129) | (1,341) | (39,797) |
Gross Product Margin
| 8,625 | 1,913 | 8,453 | (14) | (2,499) | 16,478 |
Gross Product Margin, %
| 14.7% | 15.1% | 21.5% | | | |
| | | | | | |
Unallocated finance income
| | | | | | 95 |
Finance expenses
| (1,276) | (744) | (1,907) | (79) | (4) | (4,010) |
Unallocated finance expense
| | | | | | (144) |
Finance costs, net
| (1,276) | (744) | (1,907) | (79) | (4) | (4,059) |
Net Product Margin
| 7,349 | 1,170 | 6,545 | (93) | (2,503) | 12,419 |
Net Product Margin, %
| 12.6% | 9.2% | 16.6% | | | |
| | | | | | |
Accounts receivable - consumer loans
| 33,973 | 19,794 | 50,775 | 2,102 | 114 | 106,758 |
Unallocated assets
| | | | | | 33,369 |
Unallocated liabilities
| | | | | | 62,489 |
| | | | | | | |
* Includes Mobile Bank, FerBuy and Ferratum P2P
Business segments 1 Half-Year 2015
EUR '000
|
Micro
loan
|
PLUS Loan |
Credit Limit |
Ferratum Business |
Other* |
Total |
Revenue
| 29,707 | 4,575 | 15,486 | 6 | 22 | 49,796 |
Share in Revenue, %
| 59.7% | 9.2% | 31.1% | 0.0% | 0.0% | 100.0% |
| | | | | | |
Directly attributable cots:
| | | | | | |
Impairments
| (10,818) | (1,208) | (4,345) | (8) | (65) | (16,444) |
Marketing
| (2,475) | (1,198) | (4,475) | (2) | (530) | (8,681) |
Attributable Product Margin
| 16,414 | 2,169 | 6,665 | (4) | (574) | 24,670 |
| | | | | | |
Non-directly attributable costs:
| | | | | | |
Personnel expenses
| (4,322) | (666) | (2,253) | (1) | (194) | (7,435) |
Lending costs
| (1,971) | (304) | (1,027) | (0) | - | (3,302) |
Other administrative expenses
| (293) | (45) | (153) | (0) | (46) | (537) |
Depreciation and amortization
| (291) | (45) | (152) | (0) | - | (488) |
Other operating expenses
| (3,861) | (595) | (2,013) | (1) | (151) | (6,620) |
Total Non-directly attributable costs
| (10,738) | (1,654) | (5,598) | (2) | (390) | (18,382) |
Gross Product Margin
| 5,675 | 515 | 1,068 | (6) | (964) | 6,288 |
Gross Product Margin, %
| 19.1% | 11.3% | 6.9% | | | |
| | | | | | |
Unallocated finance income
| | | | | | 839 |
Finance expenses
| (865) | (288) | (799) | (5) | (2) | (1,958) |
Finance costs, net
| (865) | (288) | (799) | (5) | (2) | (1,119) |
Net Product Margin
| 4,811 | 227 | 269 | (11) | (966) | 5,169 |
Net Product Margin, %
| 16.2% | 5.0% | 1.7% | | | |
| | | | | | |
Accounts receivable - consumer loans
| 35,748 | 11,892 | 33,026 | 221 | 73 | 80,960 |
Unallocated assets
| | | | | | 35,965 |
Unallocated liabilities
| | | | | | 46,234 |
| | | | | | | |
* Includes Mobile Bank, FerBuy and Ferratum P2P
Revenue of business segments geographically (YE and H1 2015)
EUR '000
| | Year-End 2015 | 1 Half-Year 2015 |
Nordics
| Finland, Sweden, Denmark, Norway | 39,546 | 17,122 |
BCN
| Netherlands, UK, New Zealand, Australia, Canada | 21,674 | 10,498 |
Northeast
| Estonia, Latvia, Lithuania, Poland, Czech, Slovakia, Russia | 38,536 | 17,497 |
Other (Southeast, West)
| Bulgaria, Romania, Croatia, Spain, Germany, France, Mexico | 11,252 | 4,679 |
Total revenue
| | 111,008 | 49,796 |
| | | | |
About Ferratum Group:
The Finnish Ferratum Group, a pioneer for mobile consumer loans in Europe, offers short-term consumer loans for private customers. Ferratum's customers can utilize digital media to apply for consumer credit in amounts varying between EUR 25 and EUR 3,000. Moreover, Ferratum offers successful small businesses installment loans with a term of six to twelve months. Managed by its founder Jorma Jokela, Ferratum has expanded rapidly since it was founded in 2005: Ferratum has more than 1.3 million active and former customers who have been granted one or more loans in the past and 3.9 million total user accounts in its database (as of 31 March 2016). Ferratum is represented in 23 markets.
Contacts:
Ferratum Group
Dr. Clemens Krause
T: +49 30 887 15 308
F: +49 30 887 15 309
M: [email protected]
Ferratum Group
Paul Wasastjerna
Head of Investor Relations
T: +358 40 724 8247
M: [email protected]
cometis AG
Henryk Deter I Claudius Krause
T: +49 611 20 58 55 28
F: +49 611 20 58 55 66
M: [email protected]
