Ferratum Oyj : Ferratum Group continues on its profitable growth path in the first nine months of 2015

Ferratum succeeded in increasing the number of its customers to 1.2 million in the first nine months of 2015, an increase of 29.3% year on year (9M 2014: 0.9 million customers). Ferratum Group's revenues rose by 60.2% from EUR 49.4 million to EUR 79.2 million in the reporting period. On a quarterly basis, Ferratum continued its sales growth in the third quarter and thus for the seventh consecutive quarter. After posting a revenue of EUR 18.6 million in the third quarter of 2014, Ferratum generated EUR 29.4 million in revenue in the third quarter of 2015, a 58.0% increase.

Dr. Clemens Krause, CFO of Ferratum Group, expressed his great satisfaction with the company's development: "We are pleased that we were able to continue the positive trend in the third quarter. With revenues of EUR 79.2 million, we exceeded our record sales in 2014 after only nine months. We were also able to show significant growth rates with respect to earnings. We will continue to stay on this profitable growth path."

Risk provisions increased slightly in relation from EUR 14.2 million in the first nine months of 2014 to EUR 24.8 million in the reporting period with higher customer receivables of EUR 93.6 million in total (12/2014: EUR 61.5 million) due to further optimized risk management. A one-time effect in the amount of EUR 1.4 million that was incurred in this connection also had a positive impact on earnings during the reporting period. In contrast, operating expenses rose significantly to EUR 42.2 million (9M 2014: 26.8 million EUR) due to the many measures aimed at accelerating growth. Besides significantly higher marketing and selling expenses of EUR 11.2 million (9M 2014: EUR 6.2 million), this figure also includes IPO costs of EUR 0.5 million.

Ferratum thus achieved earnings before interest and taxes (EBIT) adjusted for non-recurring IPO expenses of EUR 12.7 million, which equates to an adjusted EBIT margin of 16.0%. Including the IPO costs, EBIT rose by 44.2% to EUR 12.2 million (9M 2014: EUR 8.5 million). This resulted in an EBIT margin of 15.4% (9M 2014: 17.1%). Including the net financial expenses, adjusted earnings (EBT) before taxes increased by 70.6% to EUR 9.9 million - net of IPO costs to EUR 9.4 million (9M 2014: EUR 5.8 million). The adjusted EBT margin amounted to 12.5% (11.9% after IPO costs; 9M 2014: 11.7%). As a result, adjusted net income for the period increased significantly by a total of 90.5% to EUR 8.8 million (EUR 8.3 million after IPO costs) compared to EUR 4.6 million in the first nine months of 2014. With 21,577,750 shares in total (excluding treasury shares), undiluted earnings per share rose to EUR 0.39 at the end of the reporting period (9M 2014: 0.25 EUR).

Considering how positively the company is developing, Jorma Jokela is very confident for the future: "We are ready to take the next step. Our team is working hard every day to bring the Mobile Bank to market. The preparation of the systems is at a very advanced stage. As the next step, we plan to go live with a selected number of customers in Sweden." Soon thereafter the mobile bank will be launched to the public also in other countries. Significant PR work and marketing are scheduled from Q1 2016 on. The marketing and further development of Ferratum's Mobile Bank are the most important strategic targets for 2016.

The full-length report on the first nine months of 2015 is available for downloading in English starting today on the website www.ferratumgroup.com in the "Investor Relations" section.

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