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December 25, 2024 -Wednesday

 
  MASH GROUP PLC REPORTS INTERIM UNAUDITED FINANCIALS, Q1 2018 ENDED 31ST MARCH 2018

Wednesday 02/05/2018



Mash Group reports record revenue, up 78% from Q1/17 and 23% from Q4/17. With an EBIT of EUR 1.2 million, the Group believes they are well positioned to maintain momentum, comments CEO Hickson.

FINLAND, May 2 (Bernama-GLOBE NEWSWIRE) -- Mash continued to grow rapidly in all markets during the first quarter, with new daily, weekly and monthly records in January, February and March.

Financial Highlights
  • Lending volumes in Q1/18 were 31% higher than in Q4/17, and 142% higher than Q1/17.
  • Revenues increased by 23% from the previous quarter and 78% compared to Q1/17, while EBIT increased 204% and 149%, correspondingly.
  • The Group’s solidity remains excellent, with equity increasing by 32% compared to the previous quarter and 78% compared to Q1/17, raising the equity ratio to 42%.
  • Total assets grew by 23% (Q4/17) and 70% (Q1/17).


“Today, our average monthly volumes are over two and a half times that of Q1 2017 and three times compared to Q1 2016”, says Group CEO James Hickson. “This is a testament to the bold decisions we made in 2017 to reposition our products, invest in our people and focus on developing strong partnerships that help drive sustainable growth moving forward.  The changes we made to our product – shifting away from upfront fees to interest-based pricing – increases revenue over time, and we expect to benefit from that in 2018.” 

“We are also happy with the investment we have made with our pay later solution in Finland, which is now available in thousands of stores with plans to launch in more markets in 2018. There is work still to do, and we continue to explore potential collaboration opportunities with established market players to build new capabilities, but we believe we are well positioned moving forward.”

Tommi Lindfors, Chairman of Mash Group added, “We made significant progress to grow our equity to 42% of our total balance sheet.  This underscores the belief from our new and existing investors in our go-forward business and strategy, which is today ratified by our Q1 result.”

The Group confirmed that they will communicate Q2 2018 figures on Monday 13th of August.


Interim Financial Statement
 
 Q1/2018Q4/2017Q1/2017
ASSETS   
NON-CURRENT ASSETS   
  Intangible assets32 312 18828 290 82920 517 459
  Tangible assets18 48417 26625 779
  Investments3 812 541 0
TOTAL NON-CURRENT ASSETS36 143 21328 308 09420 543 237
    
CURRENT ASSETS   
Current receivables76 229 50661 015 41643 163 140
  Cash and Bank Receivables7 897 3458 555 8957 013 571
TOTAL CURRENT ASSETS84 126 85069 571 31150 176 711
TOTAL ASSETS120 270 06497 879 40670 719 948
    
EQUITY & LIABILITIES   
EQUITY   
  Share capital and issue80 00080 00080 000
  Translation difference-455 01496 287-4 652
  Reserve for invested non-restricted equity50 325 91333 179 01921 463 289
  Retained earnings224 3876 730 1196 903 866
  Profit for the Financial period88 731-2 092 199-163 832
TOTAL EQUITY50 264 01737 993 22728 278 671
    
LIABILITIES   
  Non-current Liabilities13,835,00026 550 0007 704 750
  Current liabilities56,171,04633 336 17934 736 527
TOTAL LIABILITIES70 006 04659 886 17942 441 277
TOTAL EQUITY & LIABILITIES120 270 06497 879 40670 719 948
 

INCOME STATEMENT
Q1 2018Q4 2017Q1 2017
TURNOVER5 033 1304 098 5802 827 072
Other operating income4 2852 643310
Materials and services-154 615-193 498-116 399
Personnel costs-855 962-674 049-347 891
Depreciation-901 284-789 444-506 994
Other business-related costs-1 972 097-2 064 300-1 393 153
EBIT1 153 457379 932462 945
Financial income and expenses-1 054 633-1 206 437-619 230
EBT98 824-826 505-156 285
Tax-10 0937 940-7 547
Net Profit88 731-818 565-163 832

The interim financial figures and any comparison figures provided are unaudited. The reader is advised to refer to the 2017 annual review and financial statements for the latest audited figures and more information about the Group.

About Mash

Mash has been at the forefront of FinTech innovation since 2007. We leverage our advanced proprietary algorithms, machine learning capabilities, and automated platform to deliver superior finance and payments solutions to thousands of customers every day. We work hard for a future powered by technology, making every transaction seamless, flexible and worry-free. Today, Mash is one of Europe’s leading FinTech companies.

Mash.com | press@mash.com | investor@mash.com |  @MashComOfficial

For more information please contact:
Jonas Lindholm
Mash Group Plc
Tel +358 10 217 1003
investor@mash.com 
press@mash.com

Attachments

Source : Mash Group Oyj


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