creditshelf: Large steps towards break-even in Q3 2021
- Significant revenue growth in 9M 2021 to kEUR 4,880.9 (9M 2020: kEUR 3,674.5)
- Growing partner network of banks, consulting companies and corporate finance boutiques contributes to high quality of loan requests
- Improved cost base and continued volume growth confirm success on the path to break-even
- Stable portfolio performance highlights SME asset class opportunities for investors
- Forecast for 2021 fiscal year confirmed
Frankfurt am Main, November 11, 2021 ? creditshelf Aktiengesellschaft, the leading financier for digital SME loans in Germany, is publishing its results for the first 9 months of 2021 today.
creditshelf continued its growth path in 9M 2021: EUR 110.9 mn in arranged loans (9M 2020: EUR 70.3 mn) resulted in revenues of kEUR 4,880.9 (9M 2020: kEUR 3,674.5), translating to a plus of 32.8%. A key driver of this success was the expansion of creditshelf's sales partner network, which now extends beyond traditional bank partnerships. In addition to numerous consulting companies and corporate finance boutiques, the company's network of more than 700 partners now includes, for example, the Hypoport subsidiary Fundingport GmbH. Partnerships with institutional investors such as the Dutch FIBR Bank, which provide debt capital for German SMEs via the creditshelf platform, provide further impetus for growth.
creditshelf COO Dr. Daniel Bartsch comments on 9M 2021: "Partnerships are one of the most important levers for us and enabled us to reach a new level of arranged loan volume on the creditshelf platform. In the first 9 months of 2021 we provided almost EUR 111 million to German SMEs. This underlines the importance of alternative sources in SME finance. At the same time, it is an important signal toward our financing partners: We can offer a relevant volume of high-quality SME assets with very stable portfolio performance."
Based on positive business development and prudent cost management, creditshelf halved losses compared to 9M 2020. Despite higher regular amortization of intangible assets, EBIT improved significantly to kEUR -2,076.1 (9M 2020: kEUR -4,149.1). Total expenses reduced compared to previous year's level despite a sharp rise of arranged loan volume. Personnel expenses decreased, driven by lower expenses for share-based employee incentive programs. Marketing and advertising expenses were down substantially compared with the prior-year period, reflecting a tightly focused marketing strategy featuring efficient campaigns aimed at clearly-defined target groups. Regarding this strategy, the company has reacted to changes in demand behavior, which are due to the extensive government support measures during the coronavirus crisis, and has focused its marketing efforts more on specific sectors and channels. The other operating expense items were further reduced as a result of internal automation and focused non-personnel cost management, following up on measures already taken in the 2020 fiscal year.
The Management Board confirms the forecast published on March 30, 2021, as part of the annual report. The range for group revenue remains unchanged at EUR 6 to 8 million. Also unchanged, the Management Board expects negative group EBIT of minus EUR 3 to minus EUR 4 million.
Key Figures at a Glance
|in EUR million
|Loan request volume
|Arranged loan volume
|of which borrower fees
|of which investor, servicing, and advisory fees
|Own work capitalized
|of which for share-based employee incentive programs
|Advertising and marketing expenses
|Legal and consulting expenses
|Miscellaneous other operating expenses
|Depreciation and amortization
The full quarterly statement for Q3 2021 is available for download effective today from the company's investor relations website, ir.creditshelf.com.
Upcoming Investor Relations Events
November 11, 2021 Publication of the quarterly statement for Q3 2021
November 22, 2021 German Equity Forum, Presentation & 1-on-1s, Frankfurt/ Main
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creditshelf is the leading financier for digital SME loans in Germany. Founded in 2014 and headquartered in Frankfurt am Main, the company arranges bank-independent, flexible financing solutions via its constantly growing network. creditshelf caters to complementary needs: SME entrepreneurs gain easy access to attractive alternative financing solutions, institutional investors can invest directly in German SMEs, and the company's partners can support their clients as innovative providers of new credit solutions. creditshelf's business model revolves around its unique, data-driven risk analysis and unbureaucratic, fast digital processes. creditshelf covers the entire value chain: Its platform is used to select suitable credit projects, analyze potential borrowers' credit quality, perform credit scoring, and price risk adequately. The company receives fees from both borrowers and investors for these services.
creditshelf has been listed on the Frankfurt Stock Exchange's Prime Standard segment since 2018. The experts making up its team have many years' experience of SME financing and are trusted partners and visionaries for building tomorrow's businesses.
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