Published: 2012-04-25 08:00:05 CEST
Mash Group Oyj
Press release

Euroloan Consumer Finance PLC interim report 1.1.-31.3.2012

The first quarter of 2012 continued the good performance record for Euroloan. Sales growth was 116,4 and net profit improved by 190,8% compared with Q1/2011.

Helsinki, Finland, 2012-04-25 08:00 CEST (GLOBE NEWSWIRE) -- 2012 opened with continued strong performance by Euroloan Consumer Finance PLC in the first quarter, with growth in all key figures compared to Q1/2011. With a sales volume of 1.91 million EUR and EBIT of 0,88 million EUR, the company is in a good position to develop its business operations in several countries. Investments have been made during the first quarter to prepare for market expansion and the launch of new services later this year. The balance sheet of Euroloan continued to strengthen, with equity reaching over 3,53 million EUR. Successful raising of external capital during the first quarter also means that Euroloan continues in an excellent liquidity position.

 

Business growth in percent:

  Q1/2012
  vs Q1/2011
Sales growth 116,4 %
Balance growth 101,5 %
Equity growth 96,6 %
EBIT growth 171,1 %
Net Profit growth 190,8 %

 

Forecast

Marketing and sales have been successful during the first quarter and the high performance level is expected to continue in the second quarter. The company expects the sales volume for the entire year to be considerably higher than for the previous year.

 

Interim financial statement Q1/2011 and Q1/2012

 

BALANCE SHEET Q1/2011 Q1/2012
ASSETS    
     
NON-CURRENT ASSETS    
   Intangible assets 616 183,35 777 295,61
TOTAL NON-CURRENT ASSETS 616 183,35 777 295,61
     
CURRENT ASSETS    
  Current Receivables 4 674 546,07 9 316 888,36
  Cash and Bank Receivables 399 742,22 1 411 107,82
     
TOTAL CURRENT ASSETS 5 074 288,29 10 727 996,18
     
TOTAL ASSETS 5 690 471,64 11 505 291,79
     
EQUITY & LIABILITIES    
     
EQUITY    
  Share Capital 150 000,00 150 000,00
  Share Issue    
     
  Total Funds 570 184,86 817 108,19
  Prepaid dividends    
  Retained earnings 893 687,69 2 035 572,41
  Profit for the Financial period 180 410,69 524 553,15
     
TOTAL EQUITY 1 794 283,24 3 527 233,75
     
LIABILITIES    
    Current Liabilities 3 896 188,40 7 978 058,04
     
TOTAL LIABILITIES 3 896 188,40 7 978 058,04
     
TOTAL EQUITY & LIABILITIES 5 708 866,11 11 505 291,79
     
     
     
     
INCOME STATEMENT Q1/2011 Q1/2012
     
SALES 884 452,37 1 913 761,50
     
Personnel costs -127 061,16 -149 990,33
     
Other business-related costs -445 780,16 -918 956,51
     
EBIT 311 611,05 844 814,66
     
Financial income and expenses -67 812,82 -150 042,27
     
EBT 243 798,23 694 772,39
     
Tax -63 387,54 -170 219,24
     
Net Profit 180 410,69 524 553,15

 

The interim report contains unaudited figures and cost allocations, which may be different from those in the final annual financial statement. The financial statement includes the allocated credit losses for the quarter and revenues from the sales of written-off receivables.

For more information about Euroloan Consumer Finance PLC please see: http://www.euroloan.com

         Jonas Lindholm, Group CFO, Board Director
         Phone: +358 10 217 1003