Mash Group Plc Reports Interim Unaudited Financials, Q1 2018 Ended 31st March 2018 | Be Korea-savvy

Mash Group Plc Reports Interim Unaudited Financials, Q1 2018 Ended 31st March 2018


(image: Mash Group Oyj)

(image: Mash Group Oyj)

press-release-notification

May 2 (Korea Bizwire) – Mash continued to grow rapidly in all markets during the first quarter, with new daily, weekly and monthly records in January, February and March.

Financial Highlights

  • Lending volumes in Q1/18 were 31% higher than in Q4/17, and 142% higher than Q1/17.
  • Revenues increased by 23% from the previous quarter and 78% compared to Q1/17, while EBIT increased 204% and 149%, correspondingly.
  • The Group’s solidity remains excellent, with equity increasing by 32% compared to the previous quarter and 78% compared to Q1/17, raising the equity ratio to 42%.
  • Total assets grew by 23% (Q4/17) and 70% (Q1/17).

 

“Today, our average monthly volumes are over two and a half times that of Q1 2017 and three times compared to Q1 2016”, says Group CEO James Hickson. “This is a testament to the bold decisions we made in 2017 to reposition our products, invest in our people and focus on developing strong partnerships that help drive sustainable growth moving forward.  The changes we made to our product – shifting away from upfront fees to interest-based pricing – increases revenue over time, and we expect to benefit from that in 2018.” 

“We are also happy with the investment we have made with our pay later solution in Finland, which is now available in thousands of stores with plans to launch in more markets in 2018. There is work still to do, and we continue to explore potential collaboration opportunities with established market players to build new capabilities, but we believe we are well positioned moving forward.”

Tommi Lindfors, Chairman of Mash Group added, “We made significant progress to grow our equity to 42% of our total balance sheet.  This underscores the belief from our new and existing investors in our go-forward business and strategy, which is today ratified by our Q1 result.”

The Group confirmed that they will communicate Q2 2018 figures on Monday 13th of August.

Interim Financial Statement

  Q1/2018 Q4/2017 Q1/2017
ASSETS      
NON-CURRENT ASSETS      
  Intangible assets 32 312 188 28 290 829 20 517 459
  Tangible assets 18 484 17 266 25 779
  Investments 3 812 541   0
TOTAL NON-CURRENT ASSETS 36 143 213 28 308 094 20 543 237
       
CURRENT ASSETS      
Current receivables 76 229 506 61 015 416 43 163 140
  Cash and Bank Receivables 7 897 345 8 555 895 7 013 571
TOTAL CURRENT ASSETS 84 126 850 69 571 311 50 176 711
TOTAL ASSETS 120 270 064 97 879 406 70 719 948
       
EQUITY & LIABILITIES      
EQUITY      
  Share capital and issue 80 000 80 000 80 000
  Translation difference -455 014 96 287 -4 652
  Reserve for invested non-restricted equity 50 325 913 33 179 019 21 463 289
  Retained earnings 224 387 6 730 119 6 903 866
  Profit for the Financial period 88 731 -2 092 199 -163 832
TOTAL EQUITY 50 264 017 37 993 227 28 278 671
       
LIABILITIES      
  Non-current Liabilities 13,835,000 26 550 000 7 704 750
  Current liabilities 56,171,046 33 336 179 34 736 527
TOTAL LIABILITIES 70 006 046 59 886 179 42 441 277
TOTAL EQUITY & LIABILITIES 120 270 064 97 879 406 70 719 948

 

INCOME STATEMENT Q1 2018 Q4 2017 Q1 2017
TURNOVER 5 033 130 4 098 580 2 827 072
Other operating income 4 285 2 643 310
Materials and services -154 615 -193 498 -116 399
Personnel costs -855 962 -674 049 -347 891
Depreciation -901 284 -789 444 -506 994
Other business-related costs -1 972 097 -2 064 300 -1 393 153
EBIT 1 153 457 379 932 462 945
Financial income and expenses -1 054 633 -1 206 437 -619 230
EBT 98 824 -826 505 -156 285
Tax -10 093 7 940 -7 547
Net Profit 88 731 -818 565 -163 832

The interim financial figures and any comparison figures provided are unaudited. The reader is advised to refer to the 2017 annual review and financial statements for the latest audited figures and more information about the Group.

About Mash

Mash has been at the forefront of FinTech innovation since 2007. We leverage our advanced proprietary algorithms, machine learning capabilities, and automated platform to deliver superior finance and payments solutions to thousands of customers every day. We work hard for a future powered by technology, making every transaction seamless, flexible and worry-free. Today, Mash is one of Europe’s leading FinTech companies.

Mash.com | press@mash.com | investor@mash.com |  @MashComOfficial

For more information please contact:
Jonas Lindholm
Mash Group Plc
Tel +358 10 217 1003
investor@mash.com
press@mash.com

 

Attachments

Source: Mash Group Oyj via GLOBE NEWSWIRE

press release curation and disclaimer notice

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>