NEO Finance, AB Interim Report and unaudited Financial Statements for twelve-month period ended 31 December 2019
In 2019, NEO FInance, AB continued to increase the volume of loans issued, reaching EUR 18.62 M and, compared to 2018 grew by 30%. Likewise, the income grew to EUR 1.72 M versus EUR 1.02 M in 2018 (70% growth). Company’s EBITDA decreased by 39%, and in 2019 was EUR -530K, whereas in 2018 it was EUR -381 K. Negative change was affected by one-off capital attraction costs, provisions adjustment and Payment initiation service (PIS) expansion. Accordingly, the net profit in 2019 was EUR -659 K, compared to EUR -453 K in 2018.
Payment initiation service (PIS) was growing rapidly. In 2019, the company performed over 3.55 M transactions, compared to 680 K transactions in 2018. Accordingly, primarily due to the increase in PIS volumes, payment-activity-related revenue increased more than 4 times, from EUR 39 K in 2018, to EUR 178 K in 2019.
Interim financial statements and interim report of NEO Finance, AB (legal entity code 303225546, address: Vivulskio st. 7, Vilnius, Lithuania) for twelve months period, as well as Confirmation of responsible persons, are ready for acquaintance in the attachment.
Chief Financial Officer