SaveLend Group Q3 net revenue rises on credit volume growth

SaveLend AB

Wed 07:36

Overview
Sweden fintech firm's Q3 net revenue rose over 30% yr/yr
Company posted Q3 net loss and negative EBITDA, citing investments and one-off costs
Q3 saw record credit volumes, with strong growth in factoring, consumer, and real estate credits

Outlook
Company sees favourable conditions for further volume growth, especially in factoring credits
Company expects Refino to contribute positively to group earnings in Q4
Company expects banking licence to enable faster growth and improved funding flexibility

Result Drivers
CREDIT VOLUME GROWTH - Co said record credit volumes, up 88% yr/yr, drove revenue increase
FACTORING AND LOANS - Factoring credits grew nearly 300%, consumer loans rose 85%, real estate credits up 65% yr/yr
INVESTMENTS AND ONE-OFF COSTS - Co said Q3 net loss was due to strategic investments and SEK 1.5 mln licence application fee

Company press release: ID:nMFNb5Cb23

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
SEK 32.90 mln
 
Q3 Adjusted Loss Per Share
 
SEK 0.13
 
Q3 Net Loss
 
SEK 7.20 mln
 
Q3 EBIT
 
-SEK 6.90 mln
 
Q3 EBITDA
 
-SEK 3.30 mln
 

Reuters Recommended Reads
Oct 19 - Sweden's Truecaller preliminary Q3 net sales rise 3% yr/yr
Oct 21 - Sweden fintech investor VEF posts Q3 net loss 
Oct 20 - Sweden's Tele2 Q3 sales rise on service revenue growth, cuts guidance

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)