Iute Group's Unaudited 2023 Results: Quality Trumps Quantity in Year-End Report

• Number of active customers increased to 274 thousand with revenue per customer up to 370 EUR - Total number of customers increased by 10.3% to 1.1 million - Group consolidated balance sheet up 16.6% to 375.8 million EUR - Increasing use of MyIute app with 813 thousand downloads - Loan payouts increased by 11.0% to 291.0 million EUR - Net profit at 10.3 million EUR compared to 7.1 million EUR adjusted for one-off gains
• Efforts to improve quality lead the quantity considerations in 2023 - IutePay pioneers in the Balkans as e-money institution - Energbank's first dividend payment approved by regulator in December 2023 - Repayment discipline down to 87.3% - 75 cardless ATMs operational - Eurobond covenants exceeded
• Interest and commission fee income up 18.0% to 91.4 million EUR - Total revenue up 20.1% to 105.7 million EUR - Cost to revenue ratio at 44.7% - EBITDA adjusted for FX and integration expenses up 34.4% to 46.7 million EUR - Net profit at 10.3 million EUR - Targets set for 2024 include revenue of over 120 million EUR and consolidated net profit of over 15 million EUR
• Iute Group reported unaudited results for 12M/2023 - Focus on quality over quantity in strategic objectives - Integration of data science into business processes for operational excellence - Transformation and expansion plans for 2024 - CEO Tarmo Sild optimistic about future growth - Earnings call scheduled for 22 February 2024, in English

IuteCredit Finance Unternehmensanleihe 11,00 % bis 10/26

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+0,81 %

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ISIN:XS2378483494WKN:A3KT6M

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