OPERATIONAL HIGHLIGHTS

       
“2018 proved to be the best year in Mash’s history” said James Hickson, Group CEO of Mash. “We made exceptional progress, not just in terms of our financial performance, but also in both the execution of our strategy and in attracting people that share our vision and values. I am humbled by the progress we have made and the dedication of our team.”

Hickson added, “We believe that a fundamental measure of success is shareholder value in the long term. This value will be directly derived by our ability to extend and secure our position as a market leader in consumer centric pay-later solutions. The stronger our market leadership and distribution capability the more powerful our economic model will be. To this end, we have continued to focus on long term profitability investing in hiring staff, our culture and our technology platform. Our decisions will continue to be shaped by this philosophy. We at Mash are truly grateful to our shareholders, partners and employees that work so passionately to make history and create a brand we can be proud of. I remain honoured and humbled to work with you.”

According to Group Chairman Tommi Lindfors, the Group’s achievements in 2018 have convinced customers, merchants and investors alike of its business model. “We set new revenue records on a daily, weekly, monthly, quarterly and yearly level in 2018, increased our customer base, grew our merchant base by over 1000%, reached record customer satisfaction levels and at the same time were able to secure over EUR 157 million of new debt and equity from investors during 2018. That can only be described as a resounding success, and shows that we are on the right track.”

Significant events 2019

In February 2019, The Finnish Parliament approved new legislation affecting consumer loans, limiting the maximum allowable interest rates and other loan-related costs for consumer loans. These are expected to come into force in September 2019. Having moved to longer maturities and competitive pricing well in advance, Mash is well-prepared for the upcoming changes, with only a minor part of Mash’ Finnish customers affected by the changes.

Outlook for 2019

Outlook for 2019

The Board of Directors estimates that the operating environment will continue to change gradually in all its markets, with some new regulation affecting lending expected during 2019 or later. Other regulatory changes are expected to have marginal effects. Mash aims to achieve profitable growth within the current product categories in its home markets, and develop its new markets. The outlook regarding turnover and total balance sheet for the financial year is that there will be growth compared to the previous year.

For more information, please see Mash Investor Information and the Annual Review 2018

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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.

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

SOURCE : Mash Group Oyj

--BERNAMA