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NEO Finance : Sales report for 2022 Q4

NEO FINANCE, AB

Sales report for 2022 Q4

Vilnius | 2023-01-31

NEO Finance, AB

Confirmation of the responsible persons at the company

31 January 2023, Vilnius

Vilnius

We hereby confirm that, to the best of our knowledge, that sales report for Q4 2022 is a true and fair representation of the quarterly performance.

Head of Administration, NEO Finance AB

Financial analyst, NEO Finance AB

Evaldas Remeikis

Tomas Savickas

content

Introduction

page 4

Basic information about the company

page 6

Overview of the Company’s operating

result

page 8

Evaldas Remeikis

Head of Admin

In Q4 2022, as in the previous quarter, all our businesses grew in volume terms. Compared to the same quarter in 2021, the amount of loans issued through the Paskolų Klubas platform grew by 54%, with EUR 10.6 million of loans funded. The number of Neopay payment transactions increased by 32.5% to 6 358 thousand units and the amount of loans issued through FinoMark to SMEs increased by 3.8 times, with a total of EUR 956 thousand in loans issued.

As in the previous quarter, the growth engine of Paskolų Klubas remains the well-targeted marketing campaigns and the attractive pricing for borrowers provided by the platform’s retail and institutional investors. While inflation is falling, consumers have to pay high heating and electricity bills and, for those with mortgages, higher interest rates on home loans. These factors are still contributing to the growth in borrowing. Also, due to favorable pricing, a very high share of borrowers refinanced their existing consumer loans in the Paskolų Klubas this quarter, ie consumers transferred loans to the platform from other lenders – the share of such loans was 58% (EUR 6.1 million out of EUR

10.6 million). The growth in consumer credit volumes and the increasing demand for refinancing led to an increase in the loan portfolio to EUR 54 million at the end of the year.

It is important to note that the growth in loans is sustainable, with the number of non-performing loans falling from 8.78% of the total loan portfolio to 8.59% in the quarter. This is a particularly good result, as more and more economists have been talking about the growth in non-performing consumer loans, which is not reflected in our statistics. In order to maximize the quality of the portfolio, we are actively working on the recovery of non-performing and pre-judicial loans. The amount of non-performing loans recovered and returned to investors during the quarter amounted to EUR 629 thousand. In order to provide a transparent and detailed view of all debt recovery steps, we have updated our investor disclosures and are now providing even more information on the loan recovery process. The strategy of Paskolų Klubas is to enable lending also to riskier customers (C and C- ratings), which is why the platform uses advanced risk assessment algorithms based on artificial intelligence to predict the credit risk of customers with different credit ratings as accurately as possible . We offer investors higher-risk consumer finance with correspondingly higher interest rates, with the aim of earning the same or even higher returns. Higher-risk customers are more likely to default, which is why the loss on a higher proportion of outstanding loans is offset by higher interest rates.

The number of payment transactions reached 6,358 thousand units in Q4 2022, surpassing the same quarter in 2021 by 32.5%. Neopay also set another record by ending the year with more than EUR 1.423 billion in payments collected in 2022. Both the growth in the number of transactions and the growth in settlement amounts reflect the growing consumer confidence in Neopay’s services.

In response to customer demand, we actively began developing two new products: buying on installation and buying without mark-up (“Buy now, pay later”). More details about these products and their launch will be provided in the first quarter of this year. We are actively working on sales of our newly launched “Automated Refunding” product. Based

on market trends and customer interest, we see that this product is relevant for our customers and they are keen to install it. The main benefits to them are time savings and improved business processes. Our solution makes operating an e-business significantly easier and more efficient.

FinoMark’s loan volume grew trendily in Q4 of 2022. During this quarter, FinoMark’s team offered to investors 54 loan projects for a total amount of EUR 956 thousand. We are pleased to have been able to maintain the upward trend for another quarter. All FinoMark projects that are listed on the market are analyzed in detail and evaluated very carefully, as the current economic situation makes it necessary to be more careful and conservative in the assessment of project owners and the collateral they provide.

In the last quarter of the year, the FinoMark team has been productive and will continue to work on building a basket of stable and sustainable small and medium-sized companies. We are also pleased together that the FinoMark team maintains a start-up atmosphere in its activities and is united in its focus on the common best result. In the near future, FinoMark will enter a new phase where we will be able to provide investors and borrowers not only with a good experience and environment to invest or borrow, but also with new opportunities for borrowers to borrow, and even more sustainable and secure projects for investors. In the middle of 2022 created feature (Referral) will continue to be popular with investors and allows investors to actively invite other investors to join the platform and receive additional financial benefits once they have started to invest via the platform.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

NEO Finance AB published this content on 31 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 07:17:03 UTC.


Public now 2023

All news about NEO FINANCE, AB
Sale 2021 3.44m
3.76m
3.76m
Net income 2021 0.12M
0.13M
0.13M
Net cash 2021 10.0M
10.9M
10.9M
P/E ratio 2021 99.9x
Yield 2021
capitalization 10.3m
11.2m
11.2m
EV / Sales 2020 2.01x
EV / Sales 2021 0.51x
Nbr of Employees 35
free float 16.0%

Duration : Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.


Period : DayWeek

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