During the period, Sun Finance Group has maintained the continuous growth trend in loan sales by issuing €141m to customers, demonstrating increasing levels of issuance each quarter on quarter since Q2 of 2020

For the 3rd consecutive quarter revenues over €50m were delivered, being an increase of 15% compared to the same period last year

At the end of the period, the Group’s net portfolio reached €111m (an increase of 28% compared to Q1’21), driven by continuously growing our customer base and product offerings as well as working on portfolio quality improvements

As part of our expansion strategy, a strong focus was set on new product development and scaling during Q1’22, including the Buy Now Pay Later (BNPL) and installment loan product, expected to further enhance the Group’s growth path in forthcoming periods

Financial highlights

• Loan volumes: €141m, an increase from €103m in Q1’21 (+36%)
• Net portfolio: €111m, an increase of €24m (+28%) vs Q1’21
• Cost/income ratio: 24.2%, an increase of 358bps vs Q1’21
• EBITDA: €19.4m, a decrease of 15% vs Q1’21 (€22.7m), delivering 37% 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 seven countries on three continents, with headquarters in Riga, Latvia. Sun Finance has more than 6 million registered customers and employs more than 1000 people, 148 of whom work at the headquarters in Riga. The company is led by a team of seasoned professionals with more than 10 years of experience in managing FinTech, financial and IT companies.