DGAP-News

Ferratum Capital Germany GmbH: Ferratum Group publishes Q1 2021 results - Seite 3

Total assets up by 13.7 %, driven by cash and accounts receivables

Total Assets increased from EUR 675.1 million at the end of Q4 2020 by EUR 92.6 million to EUR 767.6 million at the end of Q1 2021. Most important drivers were cash and cash equivalents and accounts receivables. Compared to end of Q4 2020, cash and cash equivalents were up by 27.0 % or by EUR 63.9 million at EUR 300.4 million. Accounts receivable grew with 7.4 % to EUR 387.8 million. The increase in net receivables is a result of the Group's successful increased loan disbursement of its strategic key segments SweepBank, more specifically the Primeloan product, and CapitalBox. Primeloan revenues came in at EUR 1.5 million and net accounts receivables for Primeloan stood at EUR 44.9 million, this reflects already a 11.6 % share of total net accounts receivables. In addition, net accounts receivables for Primeloan and Capitalbox reached EUR 115.4 million at the end of Q1 2021 which represents a 29.8 % share of the Group's total net loan book of EUR 387.8 million.

At the end of Q12021, current assets stood at EUR 710.1 million (31.12.2020: EUR 615.1 million), this equals to 92.5 % of total assets while non-current assets stood at EUR 57.6 million (7.5 % of total assets).

Current liabilities increased by 28.3 % or by EUR 86.7 million to EUR 393.3 million representing 51.2 % of total equity and liabilities. The largest driver for this increase was deposits which grew by 32.2 % to EUR 364.8 million. Non-current liabilities were almost stable at EUR 249.5 million (31.12.2020: EUR 243.0 million).

At the end of Q1 2021, current and non-current deposits totaled to EUR 435.6 million (31.12.2020: EUR 339.5 million) resulting in a higher liquidity . This enables the Group to continue with the strategically important growth in the SweepBank and CapitalBox segments.

At the end of Q1 2021, the Group had 683 employees, a decrease from Q1 2020 (771 employees). Personnel expenses were y-o-y down by 13.5% at EUR 8.6 million (2020 Q1: EUR 10.0 million).

Rebranding of segments and tribes

The Group has during the first quarter rebranded its previous segments Microloan, PlusLoan, CreditLimit, CapitalBox and Mobile Wallet including Primeloan. The newly introduced segments and brands within the Group are called Ferratum, CapitalBox and SweepBank. According to the new strategy, the Group's business units will gain a more independent role and will consequently be even more closely aligned to their clients and their specific needs. The Group will concentrate on business-critical operations, with cost advantages derived from delivering greater economies of scale.