Fellow Finance Plc corrects Company Announcement published earlier on 14 February at 11:00 as follows. The Fellow Finance group second half-year (later: H2/2018) (1.7.-31.12.2018) consolidated income statement External services were 664.510,71 euros more than reported earlier and Financial income and expenses were respectively 664.510,71 less. This correction affects H2/2019 Operating profit (EBIT), Adjusted operating profit, EBITDA, Adjusted EBTIDA and the Key Ratios related. 1.7.-31.12.2018 H2/2018 information has been corrected in the below.
The correction has no impact on audited Financial Year results of 2018 (1.1.2018.-31.12.2018) and the result of other periods.
Financial Year 2018 in brief
Half-year Financial Report July-December 2018 in brief
Our growth rate and profit were on an outstanding level in 2018. Our revenue grew almost by 40 % to 12 million euros and our operating profit grew to 3,4 million euros (adjusted operating profit was 3,5 million euros). Our operations, the number of platform users and the number of intermediated loans kept on growing rapidly throughout the whole year 2018. We intermediated loans with a record-breaking amount of 172 million euros which resulted in 74% growth compared to the previous year.
The biggest milestones in 2018 were our listing on Nasdaq First North Finland – marketplace and getting approximately 2800 new owners to the Company as well as expanding our platform to Sweden during the summer. The development work in 2018 also resulted in opening our platform in already fifth country, Denmark, in January 2019. By the end of the year we had investor clients already from around 60 different countries.
In 2019 we will continue our sustainable, profitable and strong growth towards our ambitious future goals. We will expand our platform to new markets in Europe creating foundation for the growth for becoming years and offering new financing products to our existing markets. This way we can offer diverse and interesting investment opportunities to our platform investors.
The Fellow Finance Group’s turnover in 2019 is expected to grow over 30% and its adjusted operating profit (EBIT) to grow from financial year 2018.
CEO, Fellow Finance Oyj
Tel. +358 40 585 5009
Evli Bank Plc
tel. +358 40 579 6210
Fellow Finance Plc launched its operations in 2014 and it is an internationally active and growth-oriented FinTech group that provides crowdfunding services for people and businesses. Fellow Finance is the leading¹ Nordic loan-based crowdfunding and peer-to-peer lending platform which has over 520 000 users from around 60 countries. Fellow Finance Plc is regulated by the Financial Supervisory Authority of Finland as an Authorized Payment Institution. Fellow Finance Plc is listed on Nasdaq First North Finland and The Company has around 2800 shareholders.
¹Measured by amount of financing facilitated. Source: Brismo Market Data (data accessed on 4 February 2019).