Sun Finance Group - Unaudited results (3M 2024)
Throughout the period, the Group sustained solid financial performance, achieving growth in key financial metrics compared to the same period last year.
Financial highlights:
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Interest income: €79.5m, an increase from €76.3m in 3M 2023 (+4.2%)
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Net portfolio: €174.9m, an increase of €4.3m (+2.5%) vs 3M 2023
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Cost/income ratio: 27.3%, an increase of 452bps vs 3M 2023
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EBITDA: €31.3m, delivering a margin of 39.4%
In March 2024, the Group’s 3.5-year senior unsecured bond issue (LV0000802692), with a coupon rate of 11% + 3M EURIBOR and maturity in November 2026, was admitted to trading on the Nasdaq First North market.
To refinance the Group’s 3-year €20m bonds maturing on 30 June 2024, as well as to support new product development and further geographic expansion, the Group registered a new senior unsecured bond issue of up to €40m at the end of May 2024. The new bond issue, maturing in November 2027, is organized as a private placement with an 11% coupon rate, paid monthly.
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 nine countries across four continents, with headquarters in Riga, Latvia. Sun Finance has more than 16.5 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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