Sun Finance Group - Unaudited quarterly results (Q3, 2022)
During the period, Sun Finance Group has recorded all-time best quarterly performance and has maintained the continuous growth trend in loan sales by issuing €185m to customers
The quarterly revenue of €77m in Q3’22, for the first time exceeding the €70m mark, has allowed the Group to reach the total 2021 revenue level of €193m already by the end of this reporting period
At the end of Q3’22, the net portfolio had grown to €149m (an increase of 58% vs Q3’21), driven by continuously growing our customer base and product offering as well as working on portfolio quality improvements
In August 2022, the Group registered a new Senior Unsecured bonds issue in amount of €50m. A part of the proceeds was directed to refinance the €15m bonds with the maturity date on 30 September 2022
The Group keeps having a strong focus on new product development and scaling, including the Buy Now Pay Later (BNPL) and installment loan product. During the reporting period, the Group has expanded its presence in Central Asia and South East Asia regions
Financial highlights
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Loan volumes: €185m, an increase from €118m in Q3’21 (+57%)
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Net portfolio: €149m, an increase of €55m (+58%) vs Q3’21
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Cost/income ratio: 19.9%, an increase of 158bps vs Q3’21
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EBITDA: €31.5m, an increase of 58% vs Q3’21, delivering 41.1% 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 on three continents, with headquarters in Riga, Latvia. Sun Finance has more than 9 million registered customers and employs more than 1000 people, ~150 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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