IuteCredit releases unaudited results for 3M / 2021

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DGAP-News: IuteCredit Finance S.à.rl / Keyword (s): Quarterly / intermediate declaration
18.05.2021 / 07:30
The issuer is solely responsible for the content of this advertisement.

IuteCredit releases unaudited results for 3M / 2021
Growth momentum is stronger than third wave headwinds

OPERATIONAL HIGHLIGHTS

STRATEGIC HIGHLIGHTS

FINANCIAL HIGHLIGHTS

Tallinn, Estonia, May 18, 2021. IuteCredit Europe (“ICE”), a leading European personal finance group, today released unaudited results for 12M / 2020.

“The macroeconomic development in the first quarter was not as positive as we expected after the second wave of the coronavirus pandemic and even before Christmas. Instead, foreclosure measures in response to Wave 3 limited the demand for loans in stores and cut customers off from their income streams as well. to varying degrees. To make matters worse, the start of vaccinations in the Balkan countries has not progressed as fast as in most EU countries. And infection, hospitalization and death rates per 100,000 population have broken records. However, the public spirit and the joie de vivre in our markets remained strong. Although we missed our own growth targets, we managed to achieve slight growth when the third wave hit full blast. No comparison with the previous year, when we encountered the first wave with a sharp contraction in the balance sheet and experienced a momentary free fall in our customer repayments. So, no doubt, this year is much better, we have kept the growth momentum and this momentum is strong as the third wave is in full swing.

Investor money therefore continues to be invested productively. Based on our current assessment, we will need more capital in 2021 to fund growth given the downward trend in APRs.

Given the first quarter which has just ended and the outlook still volatile, our growth outlook for 2021 obviously also needs to be adjusted. We expect total assets to grow to EUR 170 million by the end of the year and total turnover to exceed EUR 55 million, with net profit exceeding EUR 6 million ”, said Tarmo Sild, CEO of the IuteCredit group.

The full unaudited report for 3M / 2021 is available at iutecredit.com/reports/.

Call for earnings:

CEO Tarmo Sild and CFO Kristel Kurvits will comment on 3M / 2021 unaudited results through a webcast presentation on May 20, 2021, 10.00 CEST. The webcast / call will be in English.

Please register on time to participate in the webcast / call to:
IuteCredit Europe – 3M 2021 Results Call.

The corresponding presentation will also be available on the company’s website ahead of the webcast / results call.

Contact:

IuteCredit
Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: [email protected]
Call: +372 50 88 77 0

Aalto Capital (Investor Relations)
Sven Pauly, consultant
Email: [email protected]
Call: +49 89 898 67 77 0

About IuteCredit:

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

IuteCredit loan products are unsecured consumer loans with maturities between 1 month and 36 months and car-backed loans with maturities of up to 60 months.

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

www.iutecredit.com

18.05.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.

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