Safello Publishes Interim Report for Q1 2021
Stockholm, 31 May 2021 | Today, Safello Group AB (“Safello”) publishes the company’s interim report for the first quarter of 2021. The interim report can be found on safello.com/ir.
Safello experienced its best quarter since inception, with record-high market demand lifting net turnover +195 percent compared to the same period the prior year, while gross profit rose by +250%. Below is a brief summary of the report.
First quarter of 2021 (January — March 2021)
- Net turnover increased by 195% (year-on-year) and amounted to SEK 194.7 million (66.0).
- Gross profit increased by 250% and amounted to SEK 10.5 million (3.0).
- Operating profit before depreciation and amortization (EBITDA) amounted to SEK 1.3 million (-0.1).
- Operating profit amounted to SEK 0.8 million (-0.6).
- Net profit amounted to SEK 0.8 million (-0.6).
- Earnings per share (based on 17,449,600 issued and authorized shares, but before the new issue prior to listing) amounted to SEK 0.05.
- The number of orders executed increased by 34% to 57,403 (42,975)
During the quarter, Safello strengthened its management and board teams in preparation for the listing on the Nasdaq First North Growth Market, which occurred on 12 May 2021. The company also entered into a strategic collaboration with Klarna for its Open Banking solution, enabling Safello's customers to safely buy cryptocurrencies and pay via Klarna.
In addition, Safello has acquired Rational Money AB, the company behind bitcoin.se, Sweden's leading educational portal on cryptocurrencies which further strengthens Safello's market position and profit margins.
Continued growth in the second quarter
As of 31 March 2021, Safello had completed more than 412,000 orders for a total volume of SEK 1.026bn. The number of registered users exceeded 191,000. Safello notes a continued growth into the second quarter as well. As of 27 May 2021, Safello had completed more than 451,000 orders for a total volume of SEK 1.161bn. The number of registered users exceeded 206,000.
| Key metric | As of 31 March 2021 | As of 27 May 2021 |
| Number of orders | 412,000 orders | 451,000 orders |
| Total order value | SEK 1.026bn | SEK 1.161bn |
| Number of registered customers | 191,000 customers | 206,000 customers |
Comment from CEO Frank Schuil
“We are proud and happy to follow up a thriving subscription period with a successful IPO and first day of trading. This is an important company milestone for Safello and a validation of the crypto industry in the established financial ecosystem. As one journey ends, another one begins and now our focus is on executing on our growth plans and creating long-term value for our shareholders.”
For environmental and cost reasons, Safello Group AB has decided not to print the report. A printout may be distributed to shareholders upon request.
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This information is such that Safello Group AB is required to disclose in accordance with the EU Market Abuse Regulation. The information was provided by the contact person below, for publication on 31 May 2021.
Contact information
Johan Edin, CFO Safello, ir@safello.com
Certified Adviser
Corpura Fondkommission AB, info@corpura.se, +46 722 52 34 51
Safello is an online cryptocurrency brokerage. Registered as a financial institution with Finansinspektionen (Swedish FSA), Safello offers a secure way to buy and sell crypto, in seamless transactions at industry-leading speeds. Partners integrate Safello’s brokerage solution to their web and mobile applications. Operational since 2013 in Sweden, Safello is driving crypto adoption for users, with a safe, efficient and user-friendly platform.