Multitude Group Annual Report 2023 published - on track for substantial profitable growth in 2024 and beyond

Multitude Group Annual Report 2023 published - on track for substantial profitable growth in 2024 and beyond

• Guidance for 2023 achieved: EBIT plus 44.8% to EUR 45.6 million
• Revenue up 8.5 % to EUR 230.5 million
• Net profit jumped to EUR 16.4 million, basic earnings per share amount to EUR 0.51
• Loans to customers and debt investments increased by 20.8% to EUR 638.1 million, impaired loan coverage ratio decreased to 16.6%
• Dividend proposal of EUR 0.19 per share
• Strong confidence for outlook:
  • 2024: EBIT guidance of EUR 67.5 million 
  • Mid-term 2026: net profit growth to EUR 30 million

Helsinki, 28 March 2024 – Multitude SE, a listed European FinTech company, offering digital lending and online banking services to consumers, small and medium-sized businesses, and other FinTechs (ISIN: FI4000106299, WKN: A1W9NS) (“Multitude”, “Company” or “Group”) announces that the Group's Annual Report, Corporate Governance Statement and Remuneration Report for the financial year ended 31 December 2023 have been published on the company’s website today.

With the publication of the audited figures in the annual report for 2023 Multitude confirms its preliminary numbers, showing a strong performance in 2023 and significant growth across all relevant key figures. As such, loans to customers rose by 13.6% to EUR 575.9 million and debt investments increased by 194.3% from EUR 21.1 million to EUR 62.1 million. This and an improved cost efficiency resulted in a strong growth of the EBIT from EUR 31.6 million in 2022 to EUR 45.6 million in 2023, signifying a 44.8% increase. Following this, net profit also rose sharply by 39.6% to EUR 16.4 million in 2023 and the basic earnings per share jumped from EUR 0.38 to EUR 0.51.

“With our very strong performance in 2023, Multitude has exceeded its guidance for the third year in a row and underlined its potential for further sustainable growth in the years to come”, commented CEO Jorma Jokela. “We are happy to confirm the success of our strategy, which has been further developed along the value chain. Based on the strong growth drivers of our FinTech platform we are very confident about increasing our EBIT by another 50% to EUR 67.5 million. Furthermore, we confirm our mid-term guidance to almost double Multitude`s net profit to EUR 30 million by the end of 2026.