Sun Finance Group reports audited results for 2022
During 2022, the Group continued to deliver continuous growth across all key financial metrics, notwithstanding the challenging economic conditions observed globally. In 2022, loans issued amount reached EUR 703.7 million, an increase of 54% compared to EUR 456.9 million issued in 2021. In line with the overall business growth during the reporting period, the Group’s financial metrics have significantly improved since last year. The net loan portfolio reached EUR 162.3 million at the end of 2022, recording an increase of 68% compared to EUR 96.6 million in 2021. Interest income has grown by 42%, reaching EUR 273.9 million, from EUR 193.1 million in 2021. The Group recorded a net profit of EUR 65.5 million in 2022, exceeding the 2021 result of EUR 51.0 million by 28%.
The Group finalised the listing process of its EUR 20 million 3-year corporate bond on the Nasdaq First North market in March 2022. In August, the Group registered its largest bond issue to date – EUR 50 million, with an annual coupon rate of 11% + 3M EURIBOR and maturity in September 2025. The latest bond issue has been admitted to trading on the Nasdaq First North market in April 2023.
Following the strategy to expand our ability to serve customer needs, the Group is continuously working to improve the current product offering as well as developing new products. As part of this process, the Group plans to continue scaling the Instalment Loan product during 2023 to enhance the product range offered in the current operational markets, as well as reviewing new geographies.
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 three 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
+371 263 98416
|