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creditshelf remains strongly profitable in H1 2022

·6-min read

DGAP-News: creditshelf Aktiengesellschaft / Key word(s): Half Year Report
creditshelf remains strongly profitable in H1 2022
09.09.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

creditshelf remains strongly profitable in H1 2022

  • Clearly positive EBIT in the amount of kEUR 1,485

  • Revenue growth of 15% to kEUR 3,886 driven by strong margins

  • Requested loan volume up 30%, underlining high demand for financing alternatives

  • Negotiations with renowned investors on the funding side at an advanced stage

  • Forecast for fiscal year 2022 confirmed

Frankfurt am Main, September 9, 2022 - creditshelf, next generations’ corporate financier, published its financial figures for H1 2022.

The figures for H1 2022 illustrate creditshelf’s profitable and scalable business model. The company’s revenues grew by 15.0% to kEUR 3,886 (H1 2021: kEUR 3,380). Even though the arranged loan volume decreased from EUR 72 million in H1 2021 to EUR 66 million in the reporting period, this development was compensated by a positive margin development. In H1 2022, the overall margin from the ratio of revenue to arranged loan volume was 5.9%, significantly higher than in the same period of the previous year (4.7%). Compared to H1 2021, more large-volume loans with long tenors and increases in fees had a positive impact on revenues. The requested loan volume increased by 30% to EUR 972 million in H1 2022 (H1 2021: EUR 745 million).

"Although we were not able to service our full loan pipeline in H1 2022 due to reduced funding, as a leading alternative SME lender we were able to support many companies to become more flexible in their financing structure. Against the backdrop of persistent supply chain bottlenecks and rising energy and commodity prices, we see a great deal of interest in the SME financing market in using liquidity alternatives beyond the principal bank relationship," explains creditshelf CFO Dr. Daniel Bartsch.

With further reduced expenses, EBITDA amounted to a positive kEUR 1,782 and was thus significantly above the still negative prior-year period (kEUR -906). EBIT (kEUR 1,485 vs. kEUR -1,540) and net profit (kEUR 1,351 vs. net loss of kEUR 1,583) for H1 2022 were clearly positive as well.

Reduced total expenses of kEUR 4,323 (H1 2021: kEUR 4,594) mainly benefited from a reduction in marketing and advertising expenses as well as lower legal and consulting expenses. Despite a slight increase in headcount, personnel expenses remained at the level of the prior-year period. This development was mainly driven by lower expenses for share-based employee incentive programs.

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. Talks with renowned investors on the funding side are well advanced and are expected to form the basis for growth in the second half of the year.

creditshelf CFO Dr. Daniel Bartsch is optimistic about the upcoming months: "We are proud of the positive development on the earnings side. We showed that we can reach operational break-even within current structures and by staying disciplined regarding our costs. At the same time, H1 2022 makes it clear that our digital business model offers the potential for scaling. Once we broaden the funding foundation with new investor partnerships, we see tremendous growth potential."

The Management Board is maintaining its EBIT forecast, which was adjusted upwards in an ad hoc announcement on June 10, 2022, and its revenue forecast for fiscal 2022, which has been in place since the 2021 Annual Report. Based on a forecast range of EUR 10 to 12 million for revenues, the compensation amount and increased expenses, the company expects positive EBIT of EUR 0.0 to 1.0 million for the current fiscal year.

 

 

H1 2022

H1 2021

In EUR million

 

 

Loan request volume

972.1

744.5

Arranged Loan Volume

65.9

71.8

 

 

 

In kEUR

 

 

Revenue

3,885.7

3,380.1

of which borrower fees

2,705.2

2,497.1

of which investor, servicing, and advisory fees

1,180.5

883.0

Other income

1,954.2

1.6

Own work capitalized

264.6

306.8

Total expenses

-4,322.9

-4,594.2

Personnel expenses

-2,827.2

-2,785.7

of which for share-based employee incentive programs

-68.9

-323.0

Legal and consulting expenses

-241.3

-374.7

Advertising and marketing expenses

-228.6

-332.6

Third-party services

-187.7

-193.1

Miscellaneous other operating expenses

-838.1

-908.1

EBITDA

1,781.6

-905.7

Ordinary depreciation

-296.7

-634.0

EBIT

1,484.9

-1,539.6

Financial result

-87.8

-34.9

Income tax expense/income

-45.7

-8.2

Net result

1,351.4

-1,582.7

 

The full report for H1 2022 is available for download effective today from the company’s investor relations website, ir.creditshelf.com.

 

Communications & IR:

creditshelf Aktiengesellschaft
Maximilian Franz
Communications & 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.

 


09.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:

1438235


 

End of News

DGAP News Service

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