First Quarter, January 1 – March 31, 2025

• Net revenue for the quarter amounted to SEK 25.3 million (SEK 29.2 million).
• EBITDA was SEK -0.8 million (SEK -2.9 million).
• Operating profit (EBIT) was SEK -5.2 million (SEK -5.6 million).
• Net profit was SEK 3.9 million (SEK -1.9 million).
• Earnings per share before dilution amounted to SEK 0.05 (SEK -0.11).

CEO Comments
The first quarter of the year is behind us, and you are now reading SaveLend Group’s first-ever trading update. As previously announced, we have transitioned from quarterly reporting to semi-annual reports. This change is part of our efforts to streamline operations and reduce resource-intensive reporting. At the same time, we want to continue providing the market with timely information, which is why we will now publish trading updates for Q1 and Q3, and full reports on a semi-annual basis. One of the benefits of this slightly simplified format—hopefully appreciated by the market—is that we can publish more quickly.

Looking at the first quarter, there is a lot to be pleased about. Most notably, we have taken a significant step forward in the results for the Group excluding Billecta. EBITDA for the quarter amounted to SEK -0.8 million, which is an improvement of over SEK 2 million compared to Q1 2024. Since one of our goals is to consistently deliver positive cash flow, I also want to highlight the key figure EBITDA adjusted for capitalized work (EBITDAC), which amounted to SEK -1.73 million. This represents a 63% improvement (-SEK 4.68 million), despite a decrease in net revenue of around 13% compared to the same quarter last year. This is a strong signal, especially in light of the positive trend we’re seeing in total mediated volume on the platform.

The total mediated volume for the quarter amounted to SEK 245 million, a clear improvement from SEK 197 million in the previous quarter. This positive development is largely the result of our focused efforts to grow the corporate lending segment. We took significant steps forward last year and demonstrated strong progress. Now we are beginning to see the full effect of that work. A diversified mix of credit types is a key factor for delivering high and stable returns on our platform. That’s why it’s especially gratifying that during the quarter we mediated over SEK 130 million in business loans, factoring credits, and real estate projects. That’s an increase of 156% compared to the first quarter of 2024.

Real estate loans represent a large portion of the growth in our B2B portfolio. With Karl Tigerhielm now in place as Head of Real Estate, we reached a key milestone during the quarter by fully financing our first A-rated real estate project. In terms of volume, Q1 was a major success—we financed as much in real estate during the quarter as we did during all of 2024. This is a very positive trend and a level we are confident we can maintain throughout the year.

Our popular savings product, SaveLend Fast, celebrated its one-year anniversary during the quarter. This means that the first deposits with one-year lock-in periods have started to mature. We’re pleased to see a high rate of renewals as well as some cross-selling into our other savings products. Most of all, we’re proud to show both the market and our customers that the product works exactly as intended. Whether investors choose to extend, increase, or withdraw their savings, the technology and customer experience have delivered as promised.

Last but not least, I want to highlight the first step in the sale of Billecta and our plans for what lies ahead. As announced in a separate press release, we completed a transaction during the quarter involving the sale of 22% of the shares in Billecta AB. This was a strong and important step toward completing the full divestment. Discussions with potential buyers for the remaining shares are ongoing, and the plan to complete the process before year-end remains entirely realistic.

Following the full separation from Billecta, SaveLend Group’s plan is to prepare the company for a potential transition into a licensed credit institution. Since our hypothesis is based on combining the strength and advantages of our savings platform with a credit market company structure, the application process is somewhat more complex than a typical licensing process. That said, the progress we’ve made so far is very promising, and pursuing a license remains our primary strategic direction.

In summary, 2025 has gotten off to a strong start, and I feel confident that we are on the right path as we continue preparing for the future.