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Sweden's SaveLend Group Q1 revenue rises on loan growth

Overview

Sweden fintech platform's Q1 revenue rose 15% yr/yr to SEK 29.2 mln

Net profit climbed to SEK 35.2 mln, with adjusted EPS at SEK 0.61

EBITDA remained negative due to investments in credit market company transition

Outlook

Company says new financial targets will take effect upon receipt of credit market company licence

SaveLend Group aims to achieve market-leading return on equity and annual growth in total capital

Company expects to expand revenue streams by accepting deposits after regulatory approval

Result Drivers

LOAN VOLUME GROWTH - Co said a 68% increase in loans originated on its platform was the main driver of revenue growth

INVESTMENTS IN TRANSFORMATION - Negative EBITDA attributed to one-off costs and investments in becoming a credit market company

Company press release: ID:nMFN2CMLCx

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 RevenueSEK 29.20 mln
Q1 Adjusted EPSSEK 0.61
Q1 Net IncomeSEK 35.20 mln
Q1 EBIT-SEK 6.80 mln
Q1 EBITDA-SEK 3.30 mln
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (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.)

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