DGAP-News: IuteCredit Finance S.à.rl / Keyword (s): Figures 9 Months
16.11.2021 / 07:30
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IuteCredit publishes unaudited results for 9M / 2021
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OPERATIONAL HIGHLIGHTS

STRATEGIC HIGHLIGHTS

FINANCIAL HIGHLIGHTS

Tallinn, Estonia, November 16, 2021. IuteCredit Europe (“ICE”), one of Europe’s leading personal finance groups, today released unaudited results for 9M / 2020.

“IuteCredit has made a lot of money while growing and investing in future technologies and expansion in 9M 2021. In doing so, we have invested a significant portion of our additional cash (15 million euros at the end of the second quarter) in a productive loan portfolio. At the same time, our capital buffers are strengthening and protecting the capital of bondholders against the risks of personal loans. As of September 30, 2021, IuteCredit had nearly 150,000 successful retail clients, who continued to repay their loans regularly on schedule. defaulting customers, IuteGroup recovers an average of 40% of the principal amount in cash within 180 days of the default. Last but not least, we received overwhelming investor confidence when our initially planned bond offering of 50 million euros was oversubscribed by 35 million euros, while the bond coupon was reduced to 11%. Positive cash flow from operations, growing customer demand and supply from the capital markets are our focus.

On the basis of the revenues realized and the structure of the balance sheet, we are confident to bring the consolidated turnover of IuteGroup for the whole of 2021 to 60 million euros (initially exceeding 55 million euros ) and to exceed the net profit according to the initial forecasts by more than 6 euros. million, ”said Tarmo Sild, CEO of IuteCredit Group.

The full unaudited report for 9M / 2021 is available at iutecredit.com/reports/.

Call for earnings:

CEO Tarmo Sild and CFO Kristel Kurvits to comment on unaudited 9M / 2021 results through a webcast presentation on November 18, 2021, 10:00 am CET. The webcast / call will be in English.

Please register on time to participate in the webcast / call to:
IuteCredit Europe – Call for results 9M 2021.

The corresponding presentation will also be available on the Company’s website prior to the results webcast / call.

Contact:

Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: [email protected]
Telephone: +372 622 9177

About IuteCredit:

IuteCredit – established in 2008 – is one of the leading European personal finance companies. The Group specializes in consumer credit through its subsidiaries, which are 100% equity and borrowed capital. IuteCredit currently serves clients in Moldova, Albania, North Macedonia and Bulgaria as well as in Bosnia and Herzegovina.

IuteCredit’s credit products are unsecured consumer loans with maturities ranging from 1 month to 48 months and secured automobile loans with maturities of up to 72 months.

IuteCredit’s mission is to create an extraordinary personal finance experience by exceeding customer expectations.

www.iutecredit.com

16.11.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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