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creditshelf Aktiengesellschaft: creditshelf remains stable in Q3 2022 and confirms positive EBIT forecast for the total year

EQS-News: creditshelf Aktiengesellschaft / Key word(s): 9 Month figures/Quarterly / Interim Statement
creditshelf Aktiengesellschaft: creditshelf remains stable in Q3 2022 and confirms positive EBIT forecast for the total year
10.11.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

creditshelf remains stable in Q3 2022 and confirms positive EBIT Forecast for the total Year

  • Clearly positive EBIT in the amount of kEUR 537 for 9M 2022

  • Revenue growth of 4,7% to kEUR 5,112 driven by strong margins

  • Expenses further reduced without curbing growth and scaling

  • Additional financing source enables creditshelf to continue targeted growth path

  • EBIT forecast for fiscal year 2022 confirmed

Frankfurt am Main, November 10, 2022 - creditshelf, the next generations’ corporate financier, published its financial figures for the first nine months of fiscal year 2022.

creditshelf recorded revenue growth to kEUR 5,112 in the first nine months of 2022 (prior-year period: kEUR 4,881) in a challenging environment. The arranged loan volume decreased from EUR 110 million in the prior-year period 2021 to EUR 94 million in the reporting period, however, this development was offset by a positive margin development. The overall margin from the ratio of net sales to arranged loan volume was 5.4%, higher than in the prior-year period (4.8%). Compared with 2021, longer tenures and increases in fees had a positive impact on sales.

"Even though we were not able to use the full credit pipeline due to reduced funding, we remain optimistic for the rest of 2022 after a stable first nine months. Although macroeconomic uncertainties remain due to the war in Ukraine, we expect there will be strong demand for financing for forward-looking projects to overcome supply chain issues and rising energy prices," explains creditshelf CFO Dr. Daniel Bartsch.

With only a slight increase in total expenses of kEUR 6,088 (9M 2021: kEUR 6,051), the company mainly benefited from reduced expenses for marketing and advertising as well as for legal and advisory services. Personnel expenses were at the level of the prior-year period despite a slight increase in headcount. This development was mainly due to lower expenses for share-based employee incentive programs. As a result of the positive business performance, earnings before interest, taxes, depreciation and amortization (EBITDA) improved to kEUR 992, significantly higher than the still negative figure for the prior-year period (kEUR -1,124). In terms of operating profit (EBIT), creditshelf improved significantly after ordinary depreciation and amortization of kEUR 455 (9M 2021: kEUR 952) and is positive at kEUR 537 (9M 2021: kEUR -2,076).

In addition, earnings benefited strongly from an income-relevant compensation of kEUR 1,750 received by creditshelf from the insolvency administrator of Amsterdam Trade Bank as compensation for, among other things, lost revenue and expenses incurred. This is reflected in the significantly increased other income. Amsterdam Trade Bank's credit facility to the financing vehicle investing on the creditshelf platform has since been sold to another investor, so creditshelf no longer has any business relations with Amsterdam Trade Bank.

In early November, creditshelf has entered into an additional secured financing facility. As part of the transaction, Goldman Sachs will provide up to EUR 100 million of secured funding for loans originated by creditshelf through its lending platform, supporting the needs of German SMEs. The transaction will further strengthen creditshelf’s position as the largest non-bank financier of German SMEs. The German fintech will manage the credit value chain of all loans originated on its platform – from customer acquisition to risk analysis and loan structuring to loan servicing – while Goldman Sachs will provide secured debt financing against the loans.

creditshelf CFO Dr. Daniel Bartsch is optimistic about the coming months: "The transaction makes us very proud and is a great success for our corporate development. The additional funding source is an essential component of our growth strategy, enabling us to meet the ever-increasing loan demand of our SME client base."

Based on an annual revenue forecast of EUR 7 to 8m, creditshelf expects to close the fiscal year 2022 with an EBIT of EUR 0 to 1 million, thus proving the validity of the business model despite adverse circumstances by the first-ever positive annual result.

 

Key Figures at a Glance

 

9M 2022

9M 2021

In EUR million

 

 

Loan request volume

1.456,0

1.162,2

Arranged Loan Volume

94,3

110,9

 

 

 

In kEUR

 

 

Revenue

5.111,7

4.880,9

of which borrower fees

3.655,5

3.606,8

of which investor, servicing, and advisory fees

1.456,2

1.274,1

Other income

1.968,4

45,5

Own work capitalized

390,4

488,3

Total expenses

-6.088,0

-6.051,0

Personnel expenses

-4.199,7

-4.064,3

of which for share-based employee incentive programs

-120,2

-421,6

Legal and consulting expenses

-441,3

-544,3

Advertising and marketing expenses

-364,4

-526,2

Third-party services

-249,4

-235,8

Miscellaneous other operating expenses

-1.223,4

-1.168,6

EBITDA

992,1

-1.124,3

Ordinary depreciation

-454,7

-951,6

EBIT

537,4

-2.076,1

Financial result

-134,2

-62,6

Income tax expense/income

0,0

-8,2

Net result

403,2

-2.146,9

 

The full quarterly statement for Q3 2022 is available for download effective today from the company's investor relations website, ir.creditshelf.com.

 

Communikation & IR:
creditshelf Aktiengesellschaft
Kashthury Parthiban
Communikations & IR
Mainzer Landstraße 33a
60329 Frankfurt
Germany
Tel.: +49 69 348 719 113
ir@creditshelf.com
www.creditshelf.com

 

ABOUT CREDITSHELF

ir.creditshelf.com

creditshelf is next generations’ digital corporate financier. Founded in 2014 and headquartered in Frankfurt am Main, the company arranges bank-independent, flexible financing solutions via its constantly growing network. creditshelf caters to complementary needs: SME entrepreneurs gain easy access to attractive alternative financing solutions, institutional investors can invest directly in German SMEs, and the company’s partners can support their clients as innovative providers of new credit solutions. creditshelf's business model revolves around its unique, data-driven risk analysis and unbureaucratic, fast digital processes. creditshelf covers the entire value chain: Its platform is used to select suitable credit projects, analyze potential borrowers’ credit quality, perform credit scoring, and price risk adequately. The company receives fees from both borrowers and investors for these services.

creditshelf has been listed on the Frankfurt Stock Exchange’s Prime Standard segment since 2018. The experts making up its team have many years’ experience of SME financing and are trusted partners and visionaries for building tomorrow’s businesses.


10.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

creditshelf Aktiengesellschaft

Mainzer Landstrasse 33a

60329 Frankfurt/Main

Germany

E-mail:

ir@creditshelf.com

Internet:

www.creditshelf.com

ISIN:

DE000A2LQUA5

WKN:

A2LQUA

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1483715


 

End of News

EQS News Service

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