DGAP-News: Mogo Finance S.A.
/ Key word(s): Quarterly / Interim Statement/9 Month figures
Mogo Finance reports Unaudited results for the nine months ended 30 September 2019 Increase in issuances continue to drive strong results OPERATIONAL AND STRATEGIC HIGHLIGHTS - Group loans issued increased strongly by 40.2% equaling EUR 132.6 million (9M 2018: EUR 94.6 million), of which EUR 76.3 million in mature markets (9M 2018: EUR 69.1 million) - Number of active customers in mid-tier markets up significantly by approx. 100.0% to over 17,000 (31 December 2018: approx. 8,500) - Near-prime product launched in Latvia in cooperation local Latvian bank - After testing phase Mogo Finance decided to temporarily stop operations in the Ukraine market FINANCIAL HIGHLIGHTS AND PROGRESS - Interest and similar income including income from used car rent up strongly by 42.0% to EUR 55.8 million (9M 2018: EUR 39.3 million) - Rapid growth in net interest income of 35.5% to EUR 37.8 million (9M 2018: EUR 27.9 million) - Significant increase in EBITDA by 55.1% to EUR 22.8 million (9M 2018: EUR 14.7 million) - Net profit for the period improved notably by 82.1% to EUR 5.1 million (9M 2018: EUR 2.8 million) Modestas Sudnius, CEO of Mogo Finance, commented: "In the first nine months of 2019, growth of portfolio was supported by significant increase in key financial figures - net profit and EBITDA notably. Mid-tier markets are developing according to our strategy and increasingly contributing to the Group's profitability. Mogo growth and success in 2019 so far is a result of consistent strategy, great and dedicated team work within the headquarters as well as all countries where Mogo has gathered all the best talent from the industry." The full unaudited report for the nine months ended 30 September 2019 is available under https://mogo.finance/investment/results-and-reports/.
Please register: http://emea.directeventreg.com/registration/4819519 The presentation for the conference call will be available here as of 20 November 2019, at 09:00 CET.
Contact: Simonas Jurgionis, Investor Relations Manager
About Mogo Finance: Mogo Finance operates through its own branch network, more than 1,500 partner locations and strong online presence. Physical footprint makes Mogo Finance top of mind brand in used car financing. Established in 2012, headquartered in Riga, Latvia Mogo Finance operates in: Latvia, Estonia, Lithuania, Georgia, Poland, Romania, Bulgaria, Moldova, Albania, Belarus, Armenia, Uzbekistan, Kazakhstan and North Macedonia. IMPORTANT INFORMATION This announcement does not constitute an offer of securities for sale in the United States. The bonds have not been and will not be registered under the Securities Act or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. This announcement does not constitute a prospectus for the purposes of Directive 2003/71/EC, as amended (the "Prospectus Directive") and does not constitute a public offer of securities in any member state of the European Economic Area (the "EEA"). This announcement does not constitute an offer of bonds to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the bonds. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "Relevant Persons"). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents. PROFESSIONAL INVESTORS ONLY - Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as the bonds do not constitute packaged products and will be offered to eligible counterparties and professional clients only.
15.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Mogo Finance S.A. |
8-10 avenue de la Gare | |
1610 Luxembourg | |
Luxemburg | |
Internet: | www.mogofinance.com |
ISIN: | XS1831877755, LV0000801363 |
Listed: | Regulated Market in Frankfurt (General Standard) |
EQS News ID: | 913789 |
End of News | DGAP News Service |