Published on: 18 Feb 2020
OPERATIONAL AND FINANCIAL HIGHLIGHTS
Tallinn, Estonia, 18 February 2020. IuteCredit Europe (“ICE”), a leading European personal finance group, reported today unaudited results for 12M/2019.
“The increase of our key performance indicators in loans issued and revenue for the full year 2019 is satisfactory. In contrast, the loss of control over our operating activities in Kosovo had a negative impact on our targeted net loan portfolio and annual net profit margin. However, those who overcome obstacles also make progress. IuteCredit has two new operational country businesses in the Group from which we expect fast growth in new markets during the next periods. In addition, our product innovations contribute not only to fast and easy loan applications but also to completely new benefits for our customers. We are particularly proud to be the first financial company in Macedonia to offer debit cards from MasterCard. For the full year 2020, we have set our own targets to more than 210 million EUR in loans issued to over 300 thousand customers. This corresponds to an increase of the net loan portfolio to EUR 140 million by the end of the year. We continue to focus on maintaining a high level of payment discipline on the part of our clients while keeping a strict eye on the share of operating costs in interest income. We expect 2020 total revenue to amount to over 75 million EUR and a net profit margin of 20%. A new technological platform will help to expand our range of financial services,” said Tarmo Sild, Group CEO of IuteCredit.
The full unaudited report for 12M/2019 is available under https://iutecredit.com/investor-relations/#reports
Earnings Call: CEO Tarmo Sild and CFO Kristel Kurvits will comment on the unaudited 12M 2019 results by means of a presentation on 19 February 2020, 10.00 CET. The call will be held in English.