SAVELEND GROUP AB Q2 Report – 1 April -
Amounts in parentheses refer to the same period in the previous year.
- Net revenue for the period was MSEK 21.1 (12.1), a 75% increase
- Adjusted EBITDA totalled MSEK -2.1. Items affecting comparability amounted to MSEK -8.7
- Operating loss before depreciation (EBITDA) was MSEK -10.8 (-2.5)
- Operating loss (EBIT) was MSEK -12.9 (-4.1)
- Net loss was MSEK -13.1 (-4.3)
- Earnings per share before dilution were
SEK -0.29 (-1.27)
Six months – 1 January –
Amounts in parentheses refer to the same period in the previous year.
- Net revenue for the period was MSEK 40.2 (24.2), a 66 % increase
- Adjusted EBITDA totalled MSEK -2.8. Items affecting comparability amounted to MSEK -8.7
- Operating loss before depreciation (EBITDA) was MSEK -11.5 (-5.1)
- Operating loss (EBIT) was MSEK -15.5 (-8.2)
- Net loss was MSEK -16.0 (-8.4)
- Earnings per share before dilution were
SEK -0.36 (-2.42)
Events during the period
- Welcomed Akavia (union for academic graduates) as customer to our billing platform. The largest customer so far in terms of billing transactions.
- Initiated partnership with Fastum for billing. This will increase revenues for
SaveLend by approximately MSEK 2 annually - Added volumes through partnership with
Mobility46 AB , which is anticipated to increaseSaveLend Group annual revenues by approximately MSEK 1 within 12 months - Concluded agreement with
ZignSec for digital identification.Name change fromSavelend Credit Group AB (publ) toSaveLend Group AB (publ) - The AGM re-elected
Robert Andersson , Bo Engström, Birgit Köster Hoffmann,Ludwig Pettersson , andJohan Roos as board directors. As well the AGM elected Carl-Richard Häggman, Helena Möller, and Jan Sjödin as new board members - The AGM authorized the board of directors to issue shares, warrants, and/or convertible loans for a maximum dilution of 20%
- The
SaveLend Group AB new share issue prior to listing was oversubscribed by 682 per cent, and trade in group shares began9 June 2021 on the Nasdaq First North - Growth Market using the ticker YIELD
- Recruited Martin Brändefors as COO. He entered service as of
August 2
Events after period-end
- Due to changed working circumstances, Carl-Richard Häggman has insufficient time and will therefore leave
SaveLend 's board.
CEO Comments
We just experienced an eventful quarter where our branding campaign Money shouldn’t sleep significantly raised awareness of the company. Moreover, we launched two larger partnerships and completed a successful share listing on Nasdaq First North.
We see continued significant interest from shareholders to become investors on our platform. Many are attracted by the possibility of earning two types of return – yield from investment interest and also from share value growth.
Yet another record quarter has passed in both sales and capital on the investment platform. We accomplished this while still allocating resources to our listing on Nasdaq First North. Q2 revenues hit a record MSEK 21.1, while adjusted EBITDA landed at MSEK -2.1. Adjustments were made for MSEK 8.7 in expenses related to our share listing since these make a comparison to normal business for the quarter difficult.
Capital on the platform totalled MSEK 373 at the period end for an increase of 68% over the previous year, and 24% over the last quarter. Our platform investors had an average annual yield rate of 10.07%.
Interest in our Nasdaq First North listing was very high and the share issue was oversubscribed by 682%. The first trading day was
I am convinced the capital increase along with increased transparency, coming from being listed, will help facilitate our expansion – in both our current and into new markets, and in discussions with potential partners and acquisition targets. Not least, I believe being a listed company will highlight the synergies gained between
Since this is our first interim report as a listed company, it’s only right to describe the kind of company
- Continue to put our customers first and develop solutions they love.
- Ensuring our investment decisions, regarding both our product and acquisitions, will not be driven by short-sighted expectations, but rather are based on our long-term vision.
Scalable platforms
We are a tech company and I can gladly state that our platforms have shown their scalability well through our recent volume growth. This quarter we also launched our new interface for investors logged in at SaveLend.se, which brought a marked improvement and high praise from our customers. We also introduced our partnership with
We brokered factoring credits in
New faces in management and the board of directors
The organisation was strengthened over the last year to ensure our ability to meet continued customer inflows. This includes welcoming Martin Brändefors as one of the final additions to senior management. He started as Chief Operating Officer in August, joining us from
We also added to the board of directors through the AGM where Carl-Richard Häggman, Helena Möller, and Jan Sjödin were elected. This trio has experience in senior management at the Finansinspektionen (
Altogether, these changes allow me to confidently communicate that I will be reducing my workload for the next four months after being diagnosed with testicular cancer this summer. My prognosis is positive, I have entered treatment, and feel well. Therefore, during the fall and into early winter, I will primarily concentrate on our acquisition plans and corporate governance. My beard and hairline may be lost for the moment, but continuing to deliver on our promises is still certain.
We anticipate a higher activation rate (capital being loaned out) of the capital deposited on the platform, but a somewhat lower total inflow of new capital for the summer. We also anticipate future growth coming from launching our previously announced larger customers on the billing platform.
For further information:
Telefon: +46-73-073 12 81
E- mail: ludwig.pettersson@savelend.se
www.savelendgroup.se
Certified Adviser
Telefon: +46-768-532822
E-post: info@corpura.se
www.corpura.se
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