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CREDITSHELF AKTIENGESELLSCHAFT

(CSQ)
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PRESS RELEASE: 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 
2021-05-12 / 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. -----------------------------------------------------------------------------------------------------------------------

2021-05-12 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 2021-05-12

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1195366&application_name=news 
 

(END) Dow Jones Newswires

May 12, 2021 01:31 ET (05:31 GMT)

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ChangeLast1st jan.
COMMERZBANK AG -5.81% 5.126 Delayed Quote.3.34%
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DJ INDUSTRIAL -0.83% 34823.82 Delayed Quote.13.83%
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Financials
Sales 2021 7,40 M 8,76 M 8,76 M
Net income 2021 -3,70 M -4,38 M -4,38 M
Net Debt 2021 4,00 M 4,74 M 4,74 M
P/E ratio 2021 -15,4x
Yield 2021 -
Capitalization 57,8 M 68,4 M 68,4 M
EV / Sales 2021 8,35x
EV / Sales 2022 5,82x
Nbr of Employees 54
Free-Float 66,5%
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Number of Analysts 3
Last Close Price 42,00 €
Average target price 63,00 €
Spread / Average Target 50,0%
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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