SaveLend Group Q3 net revenue rises on credit volume growth
Overview
Sweden fintech firm's Q3 net revenue rose over 30% yr/yr
Company posted Q3 net loss and negative EBITDA, citing investments and one-off costs
Q3 saw record credit volumes, with strong growth in factoring, consumer, and real estate credits
Outlook
Company sees favourable conditions for further volume growth, especially in factoring credits
Company expects Refino to contribute positively to group earnings in Q4
Company expects banking licence to enable faster growth and improved funding flexibility
Result Drivers
CREDIT VOLUME GROWTH - Co said record credit volumes, up 88% yr/yr, drove revenue increase
FACTORING AND LOANS - Factoring credits grew nearly 300%, consumer loans rose 85%, real estate credits up 65% yr/yr
INVESTMENTS AND ONE-OFF COSTS - Co said Q3 net loss was due to strategic investments and SEK 1.5 mln licence application fee
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | SEK 32.90 mln | ||
Q3 Adjusted Loss Per Share | SEK 0.13 | ||
Q3 Net Loss | SEK 7.20 mln | ||
Q3 EBIT | -SEK 6.90 mln | ||
Q3 EBITDA | -SEK 3.30 mln |
Reuters Recommended Reads
Oct 19 - Sweden's Truecaller preliminary Q3 net sales rise 3% yr/yr
Oct 21 - Sweden fintech investor VEF posts Q3 net loss
Oct 20 - Sweden's Tele2 Q3 sales rise on service revenue growth, cuts guidance
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)