EQS-News

Iute Group reports unaudited results for 6M/2023 – Quality over quantity translates into moderate growth

EQS-News: IuteCredit Finance S.à r.l. / Key word(s): Half Year Results/Half Year Report Iute Group reports unaudited results for 6M/2023 – Quality over quantity translates into moderate growth 22.08.2023 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. Iute Group reports unaudited results for 6M/2023

Quality over quantity translates into moderate growth

STRATEGIC HIGHLIGHTS

• Number of active customers reached 298 thousand (31 December 2022: 293 thousand) and the revenue per customer 338 EUR (12M/2022: 346 EUR).
• Total number of customers increased by 4,5% to 970 thousand (31 December 2022: 928 thousand).
• Group consolidated balance sheet up 8,1% to 348,5 million EUR and equity up 16,9% to 65,6 million EUR as of 30 June 2023.
• Increasing use of MyIute app – 619 thousand downloads (31 December 2022: 477 thousand).
• Launch of e-money institution IutePay in Albania as major milestone in evolution of Wallet business to generate additional value streams – QR code payments in MyIute app leverage existing pocket infrastructure while breaking down the existing fee and cost structure for payment processing.

OPERATIONAL HIGHLIGHTS

• Loan payouts increased by 12,3% 133,8 million EUR (6M/2022: 119,1 million EUR)
• Number of loans signed with 168 thousand almost at previous year’s level (6M/2022: 169 thousand).
• Gross loan portfolio up 7,3% to 231,3 million EUR (31 December 2022: 215,5 million EUR) of which principal amount of loans increased 6,9% to 211,7 million EUR (31 December 2022: 198,1 million EUR).
• Repayment discipline (Customer Performance Index, CPI30) down to 88,2% (6M/2022: 91,1%).
• Net loan portfolio up 7,3% to 208,0 million EUR (31 December 2022: 193,9 million EUR).
• 72 cardless ATMs operational (31 December 2022: 71 ATMs).

FINANCIAL HIGHLIGHTS