Multitude SE Reports Strong Start to 2024 with Significant EBIT Growth

Multitude SE, a European FinTech company known for its digital lending and banking services, has reported a substantial increase in its earnings before interest and taxes (EBIT) for the first quarter of 2024. EBIT rose by 31 percent to EUR 11.6 million, compared to EUR 8.9 million in the same period last year. The company also experienced an 18.3 percent increase in revenue, reaching EUR 64.2 million.

Additionally, Multitude SE's consolidated net profit grew by 13 percent, amounting to EUR 2.6 million, with a notable 48.8 percent increase in earnings per share (EPS). This growth is partially attributed to the acquisition of Omniveta's business, which is expected to enhance the company's SME banking segment, CapitalBox. The first quarter also saw the launch of a new business unit, Wholesale banking, contributing with an EBIT of EUR 1.0 million.

The company confirmed its 2024 outlook, aiming for an EBIT of EUR 67.5 million, which would mark a 50 percent increase from the previous year. Multitude SE maintains its focus on financial stability and risk reduction as it continues to expand its market presence through strategic acquisitions and organic growth.