Sun Finance Group - Unaudited quarterly results (Q3, 2023)
During the period, the Group issued €216.0 in loans to customers, reaching the all-time highest quarterly loan issuance level.
Besides the strong demand in our current operational markets, the growth was also driven by the acquisition of AS Zenka Group, an online lending company operating in Kenya, at the beginning of July. Its financial results are now reflected as part of the Group’s consolidated Q3’23 figures.
Following the solid growth in loan sales, the net portfolio reached €191.9m, being a 9.3% increase QoQ and an increase of 28.8% compared to the end of Q3’22.
During the period, the Group recorded EBITDA of €32.3m, up by 10.2% compared to Q3’22 and delivering a 41.2% margin.
Financial highlights
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Loan volumes: €216.0m, an increase from €184.9m in Q3’22 (+16.8%)
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Net portfolio: €191.9m, an increase of €42.9m (+28.8%) vs Q3’22
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Cost/income ratio: 26.0%, an increase of 462bps vs Q3’22
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EBITDA: €32.3m, an increase of 10.2% vs Q3’22, delivering 41.2% margin
About Sun Finance Group and Sun Finance Treasury Limited
Sun Finance Treasury Limited is subsidiary of Sun Finance Group, AS. Sun Finance is a financial technology company established in Riga, in 2017, by CEO Toms Jurjevs and co-founder Emīls Latkovskis. Sun Finance operates as an online consumer financing platform in nine countries across four continents, with headquarters in Riga, Latvia. Sun Finance has more than 15 million registered customers and employs more than 1400 people, 180 of whom work at the headquarters in Riga. The company is led by a team of seasoned professionals with more than 15 years of experience in managing FinTech, financial and IT companies.
Zanda Apine
Investor Relations
Zanda.Apine@sunfinance.group
+371 26 398 416
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