DGAP-News

IuteCredit reports unaudited results for 3M/2021 - Drive for growth is stronger than third-wave headwinds

DGAP-News: IuteCredit Finance S.à.r.l. / Key word(s): Quarterly / Interim Statement IuteCredit reports unaudited results for 3M/2021 - Drive for growth is stronger than third-wave headwinds 18.05.2021 / 07:30 The issuer is solely responsible for the content of this announcement. IuteCredit reports unaudited results for 3M/2021 Drive for growth is stronger than third-wave headwinds OPERATIONAL HIGHLIGHTS

• Loan payouts increasing y-o-y but miss internal growth targets reflecting impact of third wave on consumer demand.
• Growing share of repeating customers in maturing markets drives longer maturities above 18 months, while portfolio amortization slows.
• Number of performing loan customers remained at 136,000.
• Repayment discipline (Customer Performance Index, CPI) fully recovered and above pre-pandemic levels.
• Balance sheet up 1,9% to 118,9 million EUR with growth ruling over third pandemic wave.
• Number of loans signed up y-o-y 1,4% to 32.589 (3M/2020: 32.152) steadily increasing as of March.
• Principal amount of loans issued increased 2,6% to 32,6 million EUR (3M/2020: 31,7 million EUR).
• Gross loan portfolio stable at 94,5 million EUR (31 December 2020: 95,0 million EUR) after falling to 90 million EUR in the course of the pandemic.
• Net loan portfolio up 2,0% to 80,8 million EUR (31 December 2020: 79,2 million EUR) posting upbeat as of March.

STRATEGIC HIGHLIGHTS

• Profitable ATM-roll-out continuing - start in Albania and Macedonia as of Q2.
• Digitization journey gathering momentum with evolution of My Iute App towards fully digital customer journey and for upcoming breakthrough of online shopping in operating countries.
• Bulgaria starting up again - full operational effect as of Q3.
• Cash pile-up in search of strategic acquisitions.

FINANCIAL HIGHLIGHTS