Year-end Report 2018

JANUARY–DECEMBER 2018 (COMPARED WITH JANUARY–DECEMBER 2017)

  • Revenue increased by 42% to SEK 435.8 million (307.5)

  • Net interest income increased by 46% to SEK 357.1 million (243.8)

  • Adjusted Earnings before tax increased by 27% to SEK 152.2 million (119.5)

  • Cost/income ratio decreased to 0.31 (0.32)

  • The return on equity was 39%

THE FOURTH QUARTER (COMPARED WITH THE FOURTH QUARTER OF 2017)

  • Revenue increased by 6% to SEK 103.0 million (97.0)

  • Net interest income increased by 10% to SEK 85.3 million (77.8)

  • Earnings before tax decreased by 49% to SEK 20.7 million (39.7)

“2018 has been an eventful year and Northmill has taken giant leaps as a company. We continue to deliver strong
results and finished the last quarter according to plan. The earnings growth is expected to continue through strong loan book growth, stable margins, cost control and good credit quality. We will continue to invest in key strategic areas to prepare for an ambitious expansion plan as well as our goal of becoming a licensed bank.” says Hikmet Ego, CEO at Northmill.

The full Year-end 2018 report is available here.

 

For more information:

 

Tobias Ritzén, CFO
+46 72-534 97 61‬
tobias.ritzen@northmill.com

About Northmill

Northmill is a Swedish fintech innovation company, founded in 2006 with the vision of simplifying everyone’s financial life. Northmill develops straightforward and secure financial services using technology and innovation, with offices in Sweden, Finland, and Poland. As of 2018, the company has over 66 000 monthly active users and 100 employees.

About Us

Northmill, founded in 2006, is a Swedish innovative fintech-company with the vision of simplifying everyone’s financial life. With focus on technology, innovation and accessibility, Northmill has approximately 200 000 customers and 100 employees in three countries. Northmill is a Swedish financial institution under the supervision of Finansinspektionen, Sweden's financial supervisory authority. In 2018, for the second consecutive year, Northmill was awarded with Dagens Industri Gasell. Northmill Group had a net revenue of 435 MSEK in 2018.

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2018 has been an eventful year and Northmill has taken giant leaps as a company. We continue to deliver strong results and finished the last quarter according to plan. The earnings growth is expected to continue through strong loan book growth, stable margins, cost control and good credit quality. We will continue to invest in key strategic areas to prepare for an ambitious expansion plan as well as our goal of becoming a licensed bank.
says Hikmet Ego, CEO at Northmill