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CREDITSHELF AKTIENGESELLSCHAFT

(CSQ)
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PRESS RELEASE: creditshelf: Strong growth in volume and revenue in H1 2021 paves path to break-even

09/09/2021 | 01:31am EDT

DGAP-News: creditshelf Aktiengesellschaft / Key word(s): Half Year Report creditshelf: Strong growth in volume and revenue in H1 2021 paves path to break-even 2021-09-09 / 07:30 The issuer is solely responsible for the content of this announcement.

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creditshelf: Strong growth in volume and revenue in H1 2021 paves path to break-even . Significant revenue growth in H1 2021 to kEUR 3,380.1 (H1 2020: kEUR 2,501.3) . Optimized cost base despite increasing loan case number and volumes underscores scaling potential . Growth in arranged loan volume driven by continuously expanded sales channels, distinct marketingapproach and institutional funding . Constant optimization of risk analysis technology is reflected in stable portfolio performance . Forecast for 2021 fiscal year confirmed

Frankfurt am Main, September 9, 2021 ? creditshelf Aktiengesellschaft, the leading financier for digital SME loans in Germany, is publishing its results for H1 2021 today.

As a result of two of the strongest quarters in the company's history creditshelf grew significant in H1 2021: EUR 71.8 mn in arranged loans (H1 2020: EUR 45.6 mn) resulted in revenues of kEUR 3,380.1 (H1 2020: kEUR 2,501.3), translating to a plus of 35.1%. Drivers of this success included a distinct, data-driven marketing approach, continuously expanded sales channels - including online direct sales, a growing partner network and strategic bank cooperations - as well as a high rate of satisfied customers, resulting in follow-up financing requests. Diverse, competitive, and complementary funding channels provided additional impetus for growth and include the creditshelf Loan Fund, Amsterdam Trade Bank, as well as numerous other investors. By constantly optimizing its risk analysis technology, creditshelf provides these investors with attractive returns while maintaining a stable portfolio performance.

creditshelf CEO Dr. Tim Thabe comments on H1 2021: "Investment courage is returning in the German SME sector - and we are ready to deliver. Through institutional partners such as Amsterdam Trade Bank, which recently expanded its financing commitment from EUR 40 to 60 mn, we have created ideal conditions to meet our customers' investment needs. At the same time, we have been able to increase the quality of inquiries through our growing partner network and our distinct, data-driven marketing approach. Two strong quarters demonstrate that our platform has reached critical scale. It harbors the potential to take digital SME finance to the next level."

Economies of scale are reflected in losses cut in half compared to H1 2020. Despite higher regular amortization of intangible assets, EBIT improved significantly to kEUR -1,539.6 (H1 2020: kEUR -3,015.4). Total expenses reduced compared to previous year's level despite a sharp rise of arranged loan volume. Personnel expenses decreased with a constant headcount, driven by lower expenses for share-based employee incentive programs. Marketing and advertising expenses were down substantially compared with the prior-year period, partly as a result of efficiency gains from a sustainable reorganization of the marketing presence and pandemic-related restraint in event and live communications. The same applies to the other operating expense items, which were further reduced as a result of internal automation and focused non-personnel cost management, following up on measures taken already in the 2020 fiscal year.

"The H1 2021 numbers show that we can grow cost-efficiently by leveraging our technology and improving our processes. This illustrates the scaling potential of our business model and the large steps made on the path to profitability. We have already seen profitable months on our way to break-even," 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

                                                       H1 2021  H1 2020 
in EUR million 
Loan request volume                                      744.5    860.1 
Arranged loan volume                                      71.8     45.6 
 
in kEUR 
Revenue                                                3,380.1  2,501.3 
of which borrower fees                                 2,497.1  1,695.3 
of which investor, servicing, and advisory fees          883.0    806.0 
Other income                                               1.6    414.6 
Own work capitalized                                     306.8    513.0 
Total expenses                                         4,594.1  5,555.0 
Personnel expenses                                     2,785.7  3.017.8 
of which for share-based employee incentive programs     323.0    292.0 
Advertising and marketing expenses                       332.6    899.7 
Legal and consulting expenses                            374.7    451.5 
Third-party services                                     193.1    278.1 
Miscellaneous other operating expenses                   908.0    907.9 
EBITDA                                                  -905.7 -2.453.7 
Depreciation and amortization                            634.0    561.7 
EBIT                                                  -1,539.6 -3,015.4 

Upcoming IR Events

September 24, 2021 Baader Small Cap Day, Munich November 11, 2021 Publication of the quarterly statement for Q3 2021 November 22, 2021 German Equity Forum, Presentation & 1-on-1s, Frankfurt/ Main

The full report for the first half-year of 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 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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2021-09-09 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

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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:  1232031 
 
End of News   DGAP News Service 
=------------ 

1232031 2021-09-09

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1232031&application_name=news

(END) Dow Jones Newswires

September 09, 2021 01:30 ET (05:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
CREDITSHELF AKTIENGESELLSCHAFT 0.99% 40.8 Delayed Quote.-5.12%
DJ INDUSTRIAL 1.09% 35294.76 Delayed Quote.14.07%
TIM S.A. 0.72% 12.57 End-of-day quote.-14.20%
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Financials
Sales 2021 7,30 M 8,47 M 8,47 M
Net income 2021 -3,50 M -4,06 M -4,06 M
Net Debt 2021 - - -
P/E ratio 2021 -16,1x
Yield 2021 -
Capitalization 56,2 M 65,1 M 65,1 M
Capi. / Sales 2021 7,69x
Capi. / Sales 2022 4,78x
Nbr of Employees 57
Free-Float 66,5%
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Number of Analysts 2
Last Close Price 40,80 €
Average target price 65,50 €
Spread / Average Target 60,5%
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Managers and Directors
Tim Thabe Chairman-Management Board
Fabian BrŘgmann Chief Financial Officer
Rolf Elgeti Chairman-Supervisory Board
Gregor Heinrich Chief Technology Officer
Daniel Bartsch COO & Vice Chairman-Management Board