LHV Group renewed the Financial Plan for 2018
AS LHV Group is disclosing the revised financial plan for 2018. According to the updated plan, the consolidated net profit of LHV Group will be EUR 1.8 million higher than previously forecasted and the net profit attributed to the shareholders of the group EUR 2.7 million more than in the previous plan.
LHV Group revised its financial plan for this year in order to take into account the impact of the sale of its Lithuanian business unit, UAB "Mokilizingas" and also the effect of advising one substantial transaction. The new plan has included the actual financial results of 2018 Q1.
According to the renewed plan, the group’s income for 2018 will be EUR 2.8 million less and the costs EUR 3.3 million less than in the previously disclosed financial plan. According to the renewed financial plan, LHV forecasts this year’s consolidated net profit to amount to EUR 26.1 million, an increase of EUR 3.9 million (+18%) compared to 2017, out of which EUR 24.3 million will be attributed to the shareholders of the group, which means an increase of EUR 4.7 million from last year.
The financial plan has been attached to the announcement and will be made available at https://investor.lhv.ee/en/reports/.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are AS LHV Pank and AS LHV Varahaldus. LHV employs about 380 people and over 141,000 customers use LHV’s banking services. Pension funds managed by LHV have over 178,000 active customers.
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