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MyBucks S.A.: MyBucks releases primary figures for financial year ended 30 June 2016 - Seite 2

during the second half of the year coming from c. 37% for the prior year.

Van Niekerk says that MyBucks has achieved significant milestones during
the financial year ended 30 June 2016, most notably its successful listing
on the Frankfurt Stock Exchange in June 2016 and the agreement to acquire
the Opportunity Banks in October 2015. "We have built a solid foundation,
geared up for the next growth phase, while still growing our revenues and
maintaining our default rate below 8%. MyBucks will leverage the built
infrastructure to significant increase its operating leverage during the
financial year ending 30 June 2017. Based on year-to-date results,
management is very confident that the current financial year will be a very
strong one with significant growth both in revenues and earnings."

Furthermore, apart from the incremental capacity built, the results were
negatively impacted by one-off charges related to consultancy, legal and
audit (EUR 1.5 million), increased impairments as a result of additional
write-offs and the group-wide implementation of a more stringent
provisioning model (EUR 2.0 million) and changes in the taxation regime in
one of the African subsidiaries (EUR 0.6 million).

Due to the timing of the IPO, MyBucks also incurred higher financing costs
including funding origination costs of EUR 0.8 million during the financial
year ended 30 June 2016. Finance costs went-up by c. EUR 5.2 million for
the financial year vis-à-vis prior year. However, with the acquired banks
and the announced funding facility of the German FinTech Group, the Company
has made successful strides towards reducing its cost of funding
significantly going forward.

As a result, the Company recorded a pre-tax profit (EBT) of EUR1.0 million
with an after-tax loss of c. EUR 0.6 million. The Company suffered from
extraordinary taxes in the year ended 30 June 2016, as a deferred tax asset
of EUR 0.9 million could not be recognized on the balance sheet for the
year ended 30 June 2016 based on IFRS recognition criteria - however,
management expects to be able to recognize future benefits from the
underlying losses carry-forward and record benefits correspondingly." van
Niekerk explained. Without those one-off charges, the pre-tax profit in the
financial year ended 30 June 2016 would have been in excess of EUR 3
million.

MyBucks will publish the annual financial statements by the end of January
2017. Upon release of the financial statements, MyBucks will invite for its
Annual General Meeting.


About MyBucks

MyBucks S.A. (WKN: A2AJLT, ISIN: LU1404975507, Ticker Symbol: MBC: GR) is a
FinTech company based in Luxembourg that delivers seamless financial
services through technology. Through its brands GetBucks, GetBanked and
GetSure the company offers unsecured consumer loans, banking solutions as
well as insurance products to customers. MyBucks has experienced
exponential growth since its inception in 2011 and today has operations in
twelve African and two European countries. MyBucks aims to ensure that its
product offering is accessible, simple and trustworthy, in comparison to
traditional, non-technological methods, ultimately working towards
enhancing the benefits to the customer. The MyBucks' product offering
enables customers to manage their financial affairs easily and conveniently

Discover more at www.mybucks.com


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27.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: MyBucks S.A.
14, rue Edward Steichen
L-2540 Luxembourg
Grand Duchy of Luxembourg
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.mybucks.com
ISIN: LU1404975507
WKN: A2AJLT
Listed: Open Market (Entry Standard) in Frankfurt



End of News DGAP News Service
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