EQS-News

creditshelf Aktiengesellschaft: creditshelf remains stable in Q3 2022 and confirms positive EBIT forecast for the total year - Seite 2

In addition, earnings benefited strongly from an income-relevant compensation of kEUR 1,750 received by creditshelf from the insolvency administrator of Amsterdam Trade Bank as compensation for, among other things, lost revenue and expenses incurred. This is reflected in the significantly increased other income. Amsterdam Trade Bank's credit facility to the financing vehicle investing on the creditshelf platform has since been sold to another investor, so creditshelf no longer has any business relations with Amsterdam Trade Bank.

In early November, creditshelf has entered into an additional secured financing facility. As part of the transaction, Goldman Sachs will provide up to EUR 100 million of secured funding for loans originated by creditshelf through its lending platform, supporting the needs of German SMEs. The transaction will further strengthen creditshelf’s position as the largest non-bank financier of German SMEs. The German fintech will manage the credit value chain of all loans originated on its platform – from customer acquisition to risk analysis and loan structuring to loan servicing – while Goldman Sachs will provide secured debt financing against the loans.

creditshelf CFO Dr. Daniel Bartsch is optimistic about the coming months: "The transaction makes us very proud and is a great success for our corporate development. The additional funding source is an essential component of our growth strategy, enabling us to meet the ever-increasing loan demand of our SME client base."

Based on an annual revenue forecast of EUR 7 to 8m, creditshelf expects to close the fiscal year 2022 with an EBIT of EUR 0 to 1 million, thus proving the validity of the business model despite adverse circumstances by the first-ever positive annual result.

 

Key Figures at a Glance

	9M 2022	9M 2021
In EUR million
Loan request volume	1.456,0	1.162,2
Arranged Loan Volume	94,3	110,9
In kEUR
Revenue	5.111,7	4.880,9
of which borrower fees	3.655,5	3.606,8
of which investor, servicing, and advisory fees	1.456,2	1.274,1
Other income	1.968,4	45,5
Own work capitalized	390,4	488,3
Total expenses	-6.088,0	-6.051,0
Personnel expenses	-4.199,7	-4.064,3
of which for share-based employee incentive programs	-120,2	-421,6
Legal and consulting expenses	-441,3	-544,3
Advertising and marketing expenses	-364,4	-526,2
Third-party services	-249,4	-235,8
Miscellaneous other operating expenses	-1.223,4	-1.168,6
EBITDA	992,1	-1.124,3
Ordinary depreciation	-454,7	-951,6
EBIT	537,4	-2.076,1
Financial result	-134,2	-62,6
Income tax expense/income	0,0	-8,2
Net result	403,2	-2.146,9