EBIT increases 34.5% to EUR 28.3 million during H1 2024

Multitude SE continues strong growth in 2024: EBIT increases 34.5% to EUR 28.3 million during H1 2024

Key takeaways:

• Solid performance continues with a strong cash position
• Group revenue increases by 17.0% to EUR 128.8 million
• All business units delivering at least double-digit revenue growth
• On track for EBIT guidance of EUR 67.5 million (+50%) in 2024

Gzira, 22 August 2024 – Multitude SE, a listed European FinTech company, offering digital lending and online banking services to consumers, small and medium-sized enterprises, and other FinTechs (WKN: A40G1Q, ISIN: MT0002810100) (“Multitude”, “Company” or “Group”), has published its figures for the first half of 2024, which show a continued positive development in all business units: Consumer Banking (Ferratum), SME Banking (CapitalBox) and Wholesale Banking (Multitude Bank).

Key figures, EUR million	H1 2024	H1 2023	% change
Interest income	128.8	110.1	+17.0
Net interest Income	110.2	101.3	+8.8
Profit before interest expense and taxes (EBIT)	28.3	21.0	+34.5
Profit for the period	7.3	7.6	-4.5
Profit for the period adjusted	8.7	7.6	+14.5

Sustained growth   

After six months of the 2024 financial year, the Group continued to show a positive financial performance and increased its revenue by 17% to EUR 128.8 million (H1 2023: EUR 110.1 million). EBIT increased disproportionately by 34.5% to EUR 28.3 million compared to the same period of the previous year (H1 2023: EUR 21.0 million). Net AR increased significantly again by 25.2% to EUR 697.4 million in a 12-month comparison. This resulted in further growth in net interest income of 8.8% to EUR 110.1 million. At EUR 7.3 million, the consolidated net profit for the period was slightly below the previous year's figure of EUR 7.6 million. This was partly due to bond-related one-off expenses of EUR 1.4 million.