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    CSQ   DE000A2LQUA5

CREDITSHELF AG

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Creditshelf: Strong revenue growth and record loan volume in Q1 2021

05/12/2021 | 01:32am EDT

DGAP-News: creditshelf Aktiengesellschaft / Key word(s): Quarterly / Interim Statement
creditshelf: Strong revenue growth and record loan volume in Q1 2021

12.05.2021 / 07:30
The issuer is solely responsible for the content of this announcement.


creditshelf: Strong revenue growth and record loan volume in Q1 2021

  • Strong increase in arranged loan volume drives significant revenue growth
  • While growth continues, efficiency gains and continued prudent cost management lead to lower quarter-over-quarter overall expenses
  • Further expansion of ecosystem as key component of growth strategy
  • Forecast for 2021 fiscal year confirmed

Frankfurt am Main, May 12, 2021 ? creditshelf Aktiengesellschaft, the leading credit platform for digital SME finance in Germany, is publishing its results for Q1 2021 today.

Compared to Q1 2020, the company grew strongly in both arranged loan volume and revenue: Q1 2021 was the strongest quarter in creditshelf's history with EUR 37.6 mn in arranged loans (Q1 2020: EUR 11.6 mn). Successful partnerships, with which creditshelf is constantly expanding the SME financing ecosystem around the creditshelf platform, were the driver of this achievement. In Q1 2021, the company established additional important strategic partnerships going forward: the cooperation with Commerzbank will be intensified. In addition to the existing cooperation with the Corporate Clients segment, creditshelf's product offering is now available to Commerzbank's SME customers in the Private and Small-Business segment. Additionally, creditshelf was able to gain another strategic banking partner, Sparkasse Bremen, from the savings bank sector. These corporations combined with a steadily growing number of additional referring partners from the financing advisors sector are a key pillar of our growth plans for 2021 and the upcoming years.

Dr. Tim Thabe, creditshelf CEO, comments on Q1 2021: "After a successful year's start, our main task is to continue on our growth path. We will gain momentum by expanding our network, developing our technology, and designing new product solutions for SME borrowers. The structural shift toward digital, alternative financing solutions, especially in SME financing, continues. We are well positioned to take advantage of these opportunities."

EBIT is characterized by significantly increased revenue combined with prudent cost management. Accordingly, total expenses were below the previous year's level - despite a sharp increase in arranged loan volumes. Personnel expenses decreased with a constant headcount due to lower expenses for share-based employee incentive programs. Marketing and advertising expenses decreased because of a focused marketing approach with efficient, target customer-oriented campaigns. The same applies to legal and consulting expenses, which were also reduced thanks to the successful development of internal resources and the resulting greater independence from external service providers.

"In Q1 2021, the scalability potential of our business became evident. While our business continues to grow, we have reduced the underlying cost base quarter-over-quarter through efficiency gains. creditshelf is characterized by lean and efficient structures and processes, both within our own organization and towards our customers," explains CFO Fabian Brügmann.

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

 

  Q1 2021 Q1 2020
in EUR million    
Loan request volume 357.1 500.0
Arranged loan volume 37.6 11.6
     
in kEUR    
Revenue 1,657.5 685.6
of which borrower fees 1,256.7 443.0
of which investor, servicing, and advisory fees 400.8 242.6
Other income 0.0 300.2
Own work capitalized 143.0 71.4
Total expenses 2,201.3 2,914.4
Personnel expenses 1,339.0 1,510.9
of which for share-based employee incentive programs 145.5 292.0
Advertising and marketing expenses 149.3 627.4
Legal and consulting expenses 134.4 225.1
Third-party services 98.3 70.6
Sales commission 62.4 82.4
Miscellaneous other operating expenses 417.9 398.0
EBITDA ?400.8 ?1,857.2
Depreciation and amortization 317.5 274.0
EBIT ?718.2 ?2,131.2
 

The full quarterly statement for Q1 2021 is available for download effective today from the company's investor relations website, ir.creditshelf.com.


Corporate Communications:

creditshelf Aktiengesellschaft
Jan Stechele (CPO)
Birgit Hass (Head of PR)
Mainzer Landstrasse 33a
60329 Frankfurt
Germany
Tel.: +49 (69) 348 77 2413
presse@creditshelf.com
www.creditshelf.com


Investor Relations:

creditshelf Aktiengesellschaft
Fabian Brügmann (CFO)
Maximilian Franz (Investor Relations Manager)
Mainzer Landstrasse 33a
60329 Frankfurt
Germany
Tel.: +49 69 348 719 113
ir@creditshelf.com
ir.creditshelf.com


About creditshelf

ir.creditshelf.com

creditshelf is the leading credit platform for digital SME finance 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.



12.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: creditshelf Aktiengesellschaft
Mainzer Landstrasse 33a
60329 Frankfurt/Main
Germany
E-mail: ir@creditshelf.com
Internet: www.creditshelf.com
ISIN: DE000A2LQUA5
WKN: A2LQUA
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1195366

 
End of News DGAP News Service

1195366  12.05.2021 

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© EQS 2021
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Sales 2021 7,40 M 8,79 M 8,79 M
Net income 2021 -3,70 M -4,40 M -4,40 M
Net Debt 2021 4,00 M 4,75 M 4,75 M
P/E ratio 2021 -14,5x
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Managers and Directors
Tim Thabe Chairman-Management Board
Fabian Brügmann Chief Financial Officer
Rolf Elgeti Chairman-Supervisory Board
Gregor Heinrich Chief Technology Officer
Daniel Bartsch COO & Vice Chairman-Management Board
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