PRESS RELEASE

from ID Finance Investments, S.L.

ID Finance Investments, S.L.: ID Finance Spain S.A.U. reports Strong Financial Results for the First Half of 2023, after originating €121.1M of consumer loans

Issuer: ID Finance Investments, S.L. / Key word(s): Half Year Results/Half Year Results
ID Finance Investments, S.L.: ID Finance Spain S.A.U. reports Strong Financial Results for the First Half of 2023, after originating €121.1M of consumer loans

13.07.2023 / 11:01 CET/CEST
The issuer is solely responsible for the content of this announcement.


fncls.ssp?fn=download2_file&code_str=368ceec04ac2ad3bea39cafb89a11fb7

ID Finance Spain S.A.U. reports Strong Financial Results for the First Half of 2023, after originating €121.1M of consumer loans 


13th of July 2023 - IDFinance Spain S.A.U., the leading alternative lending brand in the country, today announced robust financial results for the first half of 2023, demonstrating sustained growth and financial strength. The company reported a first-half revenue of €59M (*), while net income reached €4.4M, following an 8% increase of its net portfolio which hit a new record of €51M. During the first half of the year, the company originated €121.1M consumer loans, processing on more than 70,000 applications per month

 

In addition, the Company further solidified its financial stability with a strong equity position of 26%, representing a 2.6p.p. improvement from the previous year underscoring the company's commitment to prudent financial management and its ability to reinvest profits into growth initiatives. Combining growth and profitability highlights the strength of ID Finance marketing and risk management capabilities.  

 

The strong capitalization and profitability levels achieved, exceeded with large headroom IDFinance Spain Eurobond covenants on equity/asset ratio (over 26% vs 15% required level) and interest coverage (over 3x vs 1.5x required level). 

 

Overall, the figures highlight the continued success of ID Finance Spain strategy, driven by innovation and risk management capabilities, which have proven effective in navigating economic complexities and delivering consistent results.  

 

Boris Batine, co-founder of ID Finance said: "Despite the economic challenges presented by the global landscape, ID Finance has maintained a strong performance in the first half of 2023. Our results are driven by our relentless focus on customer service, technological innovation, and operational efficiency. We will continue to harness these strengths to ensure we deliver excellent results and maximize shareholder value." 

 

As ID Finance keeps strengthening its core product MoneyMan, the company remains committed to further developing its financial wellness app Plazo, recognized as the Best Financial Wellness App Spain 2023 at the World Business Outlook Awards. The company aims at delivering new innovative financial solutions that meet the evolving needs of its customers.

 

As an investor-friendly organization, IDFinance Spain S.A.U. provides opportunities for retail investors to participate in the company's growth offering generous returns while ensuring low risk levels. The company's €40 million Eurobond program (ISIN: XS2231806394) is available for trade on the Frankfurt Stock Exchange, enabling investors to invest starting from €1,000.  

 

 

(*) Note: Financial statements are accessible on ID Finance S.A.U. website (idfinance.com). The financial figures stated in this press release are unaudited and reflect the performance of ID Finance Spain during the first half of 2023. The information is accurate as of the publication date.

 

About IDFinance Spain S.A.U. 
www.idfinance.com 

ID Finance Spain S.A.U. is the leading alternative lending brand in Spain, specialized in providing innovative financial solutions. With a commitment to responsible practices, the company has consistently achieved strong financial performance while maintaining the highest standards of integrity and customer satisfaction.

 

For media inquiries, please contact

Katia Ballano Göring 
PR & Comms manager ID Finance 
+34 649 799 327 
katia.ballano@idfinance.com  

 

 



Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


fncls.ssp?fn=show_t_gif&application_id=1679489&application_name=news&site_id=symex
See all ID Finance Investments, S.L. news