DGAP-News

creditshelf: Strong revenue growth and record loan volume in Q1 2021 - Seite 2

EBIT is characterized by significantly increased revenue combined with prudent cost management. Accordingly, total expenses were below the previous year's level - despite a sharp increase in arranged loan volumes. Personnel expenses decreased with a constant headcount due to lower expenses for share-based employee incentive programs. Marketing and advertising expenses decreased because of a focused marketing approach with efficient, target customer-oriented campaigns. The same applies to legal and consulting expenses, which were also reduced thanks to the successful development of internal resources and the resulting greater independence from external service providers.

"In Q1 2021, the scalability potential of our business became evident. While our business continues to grow, we have reduced the underlying cost base quarter-over-quarter through efficiency gains. creditshelf is characterized by lean and efficient structures and processes, both within our own organization and towards our customers," explains CFO Fabian Brügmann.

The Management Board confirms the forecast published on March 30, 2021 as part of the annual report. The range for group revenue remains unchanged at EUR 6 to 8 million. Also unchanged, the Management Board expects negative group EBIT of minus EUR 3 to minus EUR 4 million.
 

Key Figures at a Glance

 

	Q1 2021	Q1 2020
in EUR million
Loan request volume	357.1	500.0
Arranged loan volume	37.6	11.6
in kEUR
Revenue	1,657.5	685.6
of which borrower fees	1,256.7	443.0
of which investor, servicing, and advisory fees	400.8	242.6
Other income	0.0	300.2
Own work capitalized	143.0	71.4
Total expenses	2,201.3	2,914.4
Personnel expenses	1,339.0	1,510.9
of which for share-based employee incentive programs	145.5	292.0
Advertising and marketing expenses	149.3	627.4
Legal and consulting expenses	134.4	225.1
Third-party services	98.3	70.6
Sales commission	62.4	82.4
Miscellaneous other operating expenses	417.9	398.0
EBITDA	‒400.8	‒1,857.2
Depreciation and amortization	317.5	274.0
EBIT	‒718.2	‒2,131.2

 

The full quarterly statement for Q1 2021 is available for download effective today from the company's investor relations website, ir.creditshelf.com.