AS “mogo” interim condensed financial information for the 3 month period ended 31 March 2017.AS “mogo” earns 1.1 million during the first 3 months of 2017.
Turnover amounted to EUR 3.1 million (32% increase, compared to the same period in 2016), EBITDA reached EUR 1.8 million (55% increase, compared to the same period in 2016), net profit was EUR 1.1 million (122% increase, compared to the same period in 2016) and net profit margin was 35% (69% increase, compared to the same period in 2016).
As at 31 March 2017 gross value of the lease portfolio reached 28.1 million euro (5% increase, compared to 31 December 2016).
Interim Condensed Statement of Profit or Loss and Other Comprehensive Income
|
In EUR |
|
01.01.2017.-31.03.2017. |
|
01.01.2016.-31.03.2016. |
|
Interest and similar income |
|
3 103 891 |
|
2 358 979 |
|
Interest expense and similar expense |
|
(564 005) |
|
(515 472) |
|
Impairment |
|
(374 698) |
|
(331 058) |
|
Gross profit |
|
2 165 188 |
|
1 512 449 |
|
Selling expense |
|
(130 412) |
|
(98 022) |
|
Administrative expense |
|
(874 845) |
|
(828 544) |
|
Other operating income |
|
7 069 |
|
2 480 |
|
Other operating expense |
|
(2 204) |
|
(401) |
|
Other interest receivable and similar income |
|
67 287 |
|
14 |
|
Profit before tax |
|
1 232 083 |
|
587 976 |
|
Corporate income tax |
|
(183 633) |
|
(125 904) |
|
Deferred corporate income tax |
|
28 985 |
|
22 575 |
|
Total comprehensive income for the period |
|
1 077 435
|
|
484 647
|
Interim Condensed Statement of Financial Position
|
In EUR |
|
31.03.2017. |
|
31.12.2016. |
|
NON-CURRENT ASSETS |
|
|
|
|
|
Intangible Assets |
|
1 024 120 |
|
1 020 061 |
|
Property, plant and equipment |
|
150 757 |
|
177 638 |
|
Investments in related companies |
|
20 |
|
20 |
|
Finance lease receivables |
|
20 221 521 |
|
19 082 765 |
|
Deferred tax |
|
107 989 |
|
79 004 |
|
TOTAL NON-CURRENT ASSETS |
|
21 504 407 |
|
20 359 488 |
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
Finished goods and goods for resale |
|
26 518 |
|
17 948 |
|
Finance lease receivables |
|
6 323 196 |
|
6 152 513 |
|
Loans to related parties |
|
2 550 000 |
|
120 000 |
|
Loans to non-related parties |
|
561 |
|
2 056 |
|
Receivables from related companies |
|
- |
|
1 718 |
|
Other receivables |
|
627 944 |
|
775 713 |
|
Prepaid expense |
|
180 013 |
|
98 946 |
|
Accrued revenue |
|
31 541 |
|
534 |
|
Cash and cash equivalents |
|
317 723 |
|
147 024 |
|
TOTAL CURRENT ASSETS |
|
10 057 496 |
|
7 316 452 |
|
|
|
|
|
|
|
TOTAL ASSETS |
|
31 561 903 |
|
27 675 940 |
|
|
|
|
|
|
|
EQUITY |
|
|
|
|
|
Share Capital |
|
5 000 000 |
|
5 000 000 |
|
Currency conversion reserve |
|
1 |
|
1 |
|
Retained earnings |
|
4 395 816 |
|
3 318 381 |
|
TOTAL EQUITY |
|
9 395 817 |
|
8 318 382 |
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
Liabilities for issued bonds |
|
15 717 740 |
|
17 920 905 |
|
TOTAL NON-CURRENT LIABILITIES |
|
15 717 740 |
|
17 920 905 |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Prepayments received from customers |
|
243 208 |
|
216 215 |
|
Loans from credit institutions |
|
5 310 801 |
|
682 414 |
|
Trade payables |
|
71 708 |
|
81 328 |
|
Payables to related companies |
|
2 216 |
|
- |
|
Loans from non-related parties |
|
631 694 |
|
- |
|
Taxes payable |
|
4 133 |
|
68 958 |
|
Other liabilities |
|
14 831 |
|
112 494 |
|
Other provisions |
|
126 249 |
|
96 350 |
|
Accrued liabilities |
|
43 506 |
|
178 894 |
|
TOTAL CURRENT LIABILITIES |
|
6 448 346 |
|
1 436 653 |
|
|
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
|
31 561 903 |
|
27 675 940 |
|
|
|
|
|
|
Attachment: AS “mogo” interim condensed financial information for the 3 month period ended 31 March 2017.
About AS “mogo”
AS “mogo” offers classical finance lease and lends against vehicles already owned by clients (a type of service known as leaseback), which is available by filling out an application on the company website, mobile website, over the phone, enquiring with one of 320 affiliated car dealerships, or at one of its client service centers in major cities throughout Latvia. Company has more than 10 thousand active customers. Mogo group companies also operate in Estonia, Lithuania, Georgia, Poland, Romania and Bulgaria, with more plans to expand business in other countries. Read more: www.mogofinance.com Maris Kreics
Group CFO
Phone: +371 66900904
Email: maris.kreics@mogofinance.com
|