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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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Payments firm Klarna's Jan-Sep losses grow on soured credits

11/26/2021 | 09:59am EST
FILE PHOTO: A smartphone displays a Klarna logo on top of banknotes is in this illustration

STOCKHOLM (Reuters) - Losses for Swedish payments firm Klarna deepened in the year to the end of September, while transactions using its platform jumped in the final three months of the period, results published on Friday showed.

Operating losses at Klarna, a "buy now, pay later" company, widened to 3.13 billion crowns ($344.1 million) in the January-September period, from 801 million crowns a year ago.

Net credit losses rose by over 80% to 2.9 billion crowns, Klarna, which rivals Affirm and Afterpay, said.

In the third quarter, the firm's gross merchandise volume (GMV) - the value of transactions made using its payment platform - grew to over $57 billion in the third quarter from $35 billion.

"The US continues to be Klarna's fastest growing market with over 300% GMV growth YTD driven by 21m+ consumers," the firm, which is expected to make its stock market debut in the coming months, said in a statement.

The firm's investors include SoftBank, Sequoia Capital, NorthZone, Silver Lake, rapper Snoop Dogg, BlackRock and Singapore's sovereign wealth fund GIC.

($1 = 9.0963 Swedish crowns)

(Reporting by Helena Soderpalm; Editing by Simon Johnson)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -9.16% 69.03 Delayed Quote.-16.84%
SOFTBANK GROUP CORP. -1.24% 5497 Delayed Quote.1.16%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 119 B 53 564 M 53 564 M
Net income 2022 1 058 B 9 262 M 9 262 M
Net Debt 2022 15 202 B 133 B 133 B
P/E ratio 2022 8,74x
Yield 2022 0,80%
Capitalization 9 397 B 82 545 M 82 266 M
EV / Sales 2022 4,02x
EV / Sales 2023 4,00x
Nbr of Employees 58 786
Free-Float -
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Mean consensus BUY
Number of Analysts 15
Last Close Price 5 497,00 JPY
Average target price 9 718,00 JPY
Spread / Average Target 76,8%
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Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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