Sun Finance Group - Unaudited quarterly results (Q2, 2022)
During the period, Sun Finance Group has achieved all-time best quarterly performance and has maintained the continuous growth trend in loan sales by issuing €171m to customers, demonstrating increasing levels of issuance each quarter on quarter since Q2 of 2020
The €60m mark in quarterly revenue was surpassed for the first time, recording €66.5m in Q2’22, a substantial increase of 41% compared to the same period last year
At the end of the period, net portfolio reached a record high level of €129m (an increase of 42% vs 2021), driven by scaling new products, continuously growing our customer base, as well as working on portfolio quality improvements
In the beginning of May, the Group’s audited Financial statements for 2021 were published and the results for 2021 in this results update has been reflected as audited results
The Group is also preparing for a new bond issue including to refinance the €15m bonds maturing in September 2022
As part of our expansion strategy, the Group keeps having a strong focus on new product development and scaling, 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
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Loan volumes: €171m, an increase from €113m in Q2’21 (+52%)
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Net portfolio: €129m, an increase of €38m (+42%) vs Q2’21
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Cost/income ratio: 21.6%, an increase of 172bps vs Q2’21
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EBITDA: €28.6m, an increase of 38.5% vs Q2’21, delivering 43.1% margin
Zanda Apine
Investor Relations
Zanda.Apine@sunfinance.group
+371 263 98416
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