Lendify Sweden 2 AB (publ) releases interim report for the period 2018-01-01 to 2018-03-31
First quarter 2018,
- Operating income amounted to 1 421 kSEK.
- Operating profit amounted to -948 kSEK.
- Profit/loss after tax amounted to -4 861 kSEK
|kSEK||2018-01-01 - 2018-03-31|
|Operating income||1 421|
|Net financial income/expense||-3 913|
|Profit/loss for the period||-4 861|
|Total assets||413 585|
Lendify Sweden 2 AB (publ), org. no 559129-2981 (”Lendify Sweden 2”), was incorporated 5 September 2017. The company is a wholly owned subsidiary of Lendify AB, org. nr 556968–1744 (”Lendify”). Lendify Sweden 2 has issued bonds of SEK 400 million. Funds from the bond issue is used to finance acquisitions of consumer loan portfolios from Lendify. The average interest on the loan portfolio was 6.8% as at 2018-03-31. During the period there were no realized credit losses. Provision for credit losses amounted to SEK 1.3 million during the period.
|Key Indicators as of 2018-03-31|
|Average interest rate||6,8%|
|Average term (months)||91|
|Weighted Average UC score*||2,33%|
|Risk class||Percentage of outstanding nominal amounts||Weighted UC score*|
*The UC score represents the propensity, at time of loan origination, for a debtor to get a payment remark (Sw. betalningsanmärkning) within 12 months.
Events during the period
Lendify Sweden 2 issued bonds for SEK 400 million on 29 January 2018. On 31 January 2018 the first portfolio of consumer loans was sold from Lendify AB to Lendify Sweden 2 and the total nominal amount of the portfolio was SEK 108 million.
The Company has received unconditional shareholder’s contribution of SEK 21 million in the first quarter 2018.
The bonds were listed on NDX, a regulated market operated by NGM, on 29 March 2018.
The complete interim report in Swedish can be downloaded from:
For further information, please contact:
Erika Eliasson, Chief Investor Relations Officer tel. no. +46 (0)70 999 10 70
This information is information that Lendify Sweden 1 AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CET on 29 May 2018.