Sun Finance Group - Unaudited results (6M 2024)
During the period, the Group delivered solid financial results while navigating a strategic shift in the geographical scope of its operations. Interest income reached €133.6m (-7.4% vs 6M 2023), EBITDA of €48.5 was delivered (36.3% margin), while the net loan portfolio stood at €153.2m (-12.7% vs 6M 2023).
In March, Sun Finance was once more recognised as one of the Fastest Growing European Companies by The Financial Times, maintaining its position in the ranking for the 4th consecutive year - a notable achievement not only for the Baltic region but also at the European level.
Within the same month, the Group’s 3.5-year senior unsecured bonds (LV0000802692), with a coupon rate of 11% + 3M EURIBOR and maturity in November 2026, were admitted to trading on the Nasdaq First North market.
In April, the Group achieved a significant milestone, reaching €3 billion in loans issued to customers since the company’s inception.
Towards the end of May, the Group registered a new senior unsecured bond issue of up to €40 million to refinance the 3-year €20 million bonds maturing on 30 June 2024, as well as to support new product development and further geographic expansion. The new bond issue, maturing in November 2027, has been organized as a private placement with an 11% coupon rate, paid monthly.
About Sun Finance Group and Sun Finance Treasury Limited
Sun Finance Treasury Limited is a 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 17.8 million registered customers and employs around 1,400 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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