AS “mogo” interim condensed financial information for the 6 month period ended 30 June 2017.AS “mogo” earns 2.1 million during the first 6 months of 2017.
Turnover amounted to EUR 6.3 million (31% increase, compared to the same period in 2016), EBITDA reached EUR 3.7 million (29% increase, compared to the same period in 2016), net profit was EUR 2.1 million (50% increase, compared to the same period in 2016) and net profit margin was 33% (15% increase, compared to the same period in 2016).
As at 30 June 2017 gross value of the lease portfolio reached 29.6 million euro (11% increase, compared to 31 December 2016).
Interim Condensed Statement of Profit or Loss and Other Comprehensive Income
|
In EUR |
|
01.01.2017.-30.06.2017. |
|
01.01.2016.-30.06.2016. |
|
Interest and similar income |
|
6 322 294 |
|
4 819 908 |
|
Interest expense and similar expense |
|
(1 131 451) |
|
(1 052 895) |
|
Impairment |
|
(832 282) |
|
(130 775) |
|
Gross profit |
|
4 358 561 |
|
3 636 238 |
|
Selling expense |
|
(349 630) |
|
(232 584) |
|
Administrative expense |
|
(1 766 323) |
|
(1 753 392) |
|
Other operating income |
|
13 352 |
|
6 411 |
|
Other operating expense |
|
(5 607) |
|
(3 407) |
|
Other interest receivable and similar income |
|
135 970 |
|
285 |
|
Profit before tax |
|
2 386 323 |
|
1 653 551 |
|
Corporate income tax |
|
(347 751) |
|
(235 420) |
|
Deferred corporate income tax |
|
59 356 |
|
(21 542) |
|
Total comprehensive income for the period |
|
2 097 928
|
|
1 396 589 |
Interim Condensed Statement of Financial Position
|
In EUR |
|
30.06.2017. |
|
31.12.2016. |
|
NON-CURRENT ASSETS |
|
|
|
|
|
Intangible Assets |
|
995 168 |
|
1 020 061 |
|
Property, plant and equipment |
|
135 649 |
|
177 638 |
|
Investments in related companies |
|
20 |
|
20 |
|
Finance lease receivables |
|
21 267 934 |
|
19 082 765 |
|
Deferred tax |
|
138 360 |
|
79 004 |
|
TOTAL NON-CURRENT ASSETS |
|
22 537 131 |
|
20 359 488 |
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
Finished goods and goods for resale |
|
20 180 |
|
17 948 |
|
Finance lease receivables |
|
6 641 345 |
|
6 152 513 |
|
Loans to related parties |
|
2 459 945 |
|
120 000 |
|
Loans to non-related parties |
|
62 |
|
2 056 |
|
Receivables from related companies |
|
61 |
|
1 718 |
|
Other receivables |
|
303 121 |
|
775 713 |
|
Prepaid expense |
|
174 988 |
|
98 946 |
|
Accrued revenue |
|
50 331 |
|
534 |
|
Cash and cash equivalents |
|
582 361 |
|
147 024 |
|
TOTAL CURRENT ASSETS |
|
10 232 394 |
|
7 316 452 |
|
|
|
|
|
|
|
TOTAL ASSETS |
|
32 769 525 |
|
27 675 940 |
|
|
|
|
|
|
|
EQUITY |
|
|
|
|
|
Share Capital |
|
5 000 000 |
|
5 000 000 |
|
Currency conversion reserve |
|
1 |
|
1 |
|
Retained earnings |
|
4 829 375 |
|
3 318 381 |
|
TOTAL EQUITY |
|
9 829 376 |
|
8 318 382 |
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
Liabilities for issued bonds |
|
15 979 508 |
|
17 920 905 |
|
TOTAL NON-CURRENT LIABILITIES |
|
15 979 508 |
|
17 920 905 |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Prepayments received from customers |
|
233 126 |
|
216 215 |
|
Loans from credit institutions |
|
5 468 743 |
|
682 414 |
|
Trade payables |
|
105 714 |
|
81 328 |
|
Payables to related companies |
|
143 |
|
- |
|
Loans from non-related parties |
|
869 923 |
|
- |
|
Taxes payable |
|
98 228 |
|
68 958 |
|
Other liabilities |
|
21 086 |
|
112 494 |
|
Other provisions |
|
130 875 |
|
96 350 |
|
Accrued liabilities |
|
32 803 |
|
178 894 |
|
TOTAL CURRENT LIABILITIES |
|
6 960 641 |
|
1 436 653 |
|
|
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
|
32 769 525 |
|
27 675 940 |
|
|
|
|
|
|
Attachment: AS “mogo” interim condensed financial information for the 6 month period ended 30 June 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 more than 270 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 operate successfully not only in Latvia, but also in Estonia, Lithuania, Georgia, Poland, Bulgaria and Romania, 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
|