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     145  0 Kommentare LHV Group Updated Financial Plan for 2020

    Due to sudden changes in the economic environment, AS LHV Group is disclosing an updated financial plan for this year. Compared to the plan published in February, the planned growth of business volumes has been reduced, the volume of loan write-downs has been significantly increased and as a result the profit forecast has been lowered.

    According to the updated financial plan, in 2020 compared to the previous year, revenues of the consolidation group will increase by 18%, expenses by 14% and loan write-downs sixfold, resulting in a decrease of consolidated net profit to EUR 19.2 million or by 29% when compared to 2019. In terms of business volumes, LHV estimates a 7% growth of the loan portfolio, 11% increase in deposit volumes and 6% increase in assets under management for this year.

    Key indicators Updated FP 2020 2019 results   Change Previous
     FP 2020
    Financial results, EURt          
    Total revenue 87,316 73,818   13,498 95,647
    Total expenses 44,773 39,266   5,507 46,423
    Impairment losses on loans 19,357 3,209   16,148 7,177
    Earnings before taxes 23,185 31,342   -8,157 42,047
    Net profit 19,231 27,092   -7,861 35,917
    Business volumes, EURm          
    Loans 1,806 1,687   119 2,165
    Deposits 2,985 2,701   284 3,127
    Assets under management 1,454 1,374   80 1,576
    Key ratios          
    Cost / Income ratio 51.3% 53.2%   -1.90% 48.5%
    ROE (pre tax) 10.2% 16.2%   -6.00% 18.1%
    Capital adequacy 17.6% 18.0%   -0.4% 17.5%
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    LHV Group Updated Financial Plan for 2020 Due to sudden changes in the economic environment, AS LHV Group is disclosing an updated financial plan for this year. Compared to the plan published in February, the planned growth of business volumes has been reduced, the volume of loan …