Strong Q4’22 performance has allowed Sun Finance to conclude the financial year of 2022 significantly surpassing previous records set in terms of loans issued, revenues and profitability
During the period, the Group has issued €192m to customers, thus reaching the total issuance volume of €690m in 2022 (up by 51% vs 2021). The continuous growth trend has been maintained on a quarter-on-quarter basis since Q2 of 2020
The quarterly revenue of €81.3m in Q4’22, for the first time exceeding €80m, has allowed the Group to reach a total revenue of €273.9m in 2022, an increase of 42% vs the prior year
By recording EBITDA of €37m in Q4’22, an annual figure of €116.5m has been achieved with a margin of 42.5%
At the end of Q4’22, the net portfolio had grown to €162m (an increase of 68% vs Q4’21), driven by the strong customer demand in our operational markets, expansion of the product range offered and continuous portfolio quality improvements
For the upcoming periods, the Group plans to maintain its focus on new product development and scaling as well as further geographic expansion
Financial highlights
- Loan volumes: €192m, an increase from €123m in Q4’21 (+57%)
- Net portfolio: €162m, an increase of €66m (+68%) vs Q4’21
- Cost/income ratio: 22.5%, a decrease of 83bps vs Q4’21
- EBITDA: €37m, an increase of 83% vs Q4’21, delivering 45.5% 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 three continents, with headquarters in Riga, Latvia. Sun Finance has more than 11 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.