Sun Finance Group - Unaudited 6M 2023 results
During the period, the Group maintained a solid financial performance across all key financial metrics. By the end of June 2023, the Group’s net portfolio amounted to EUR 175.5 million, an increase of 8.1% compared to EUR 162.3 million at the end of 2022. Interest income grew by 26.7% compared to the same period previous year (6M 2022 – EUR 115.9 million), amounting to EUR 146.8 million. In the first half of 2023, the Group recorded a net profit of EUR 33.5 million, surpassing the 6M 2022 result (EUR 24.4 million) by 37.3%.
The Group’s loan issuance volume reached EUR 384.4 million during the period, being an increase of 21.4% compared to EUR 316.7 million issued in the same period last year. The Group delivered growth by broadening the product range offered in other Group’s operational markets, as well as scaling more recently launched products.
Financial highlights
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Loan volumes: €384.4m, an increase from €316.7m in 6M 2022 (+21.4%)
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Net portfolio: €175.5m, an increase of €46.1m (+35.6%) vs 6M 2022
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Cost/income ratio: 24.1%, a decrease of 3bps vs 6M 2022
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EBITDA: €54.3m, an increase of 24.7% vs 6M 2022, delivering 37.0% 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 eight countries across four continents, with headquarters in Riga, Latvia. Sun Finance has more than 12 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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