Kurs & Likviditet
Beskrivning
| Land | Finland |
|---|---|
| Lista | First North Finland |
| Sektor | Finans |
| Industri | Övriga finansiella tjänster |
FELLOW FINANCE PLC COMPANY ANNOUNCEMENT, INSIDE INFORMATION 2.12.2021 AT 10:40 AM
Fellow Finance Plc (the "Company") estimates the Company's revenue for year 2021 to be at the revenue level of year 2020. Revenue growth has been slowed down mainly by greater concentration of financing intermediated by the Company on slightly lower margin business financing and reduction of the Company's subsidiary's, Lainaamo Oy's, loan portfolio and thereby reduced interest income.
The Company made an announcement on 14.7.2021 regarding a combination agreement, setting out an arrangement whereby the Company will upon completion of the arrangement merge into Evli Bank Plc immediately following the demerger of Evli Bank Plc. In year 2021, the Company's result will be significantly burdened by transaction costs pertaining to the arrangement, in aggregate approximately 950 thousand euros. The result will also be burdened by the Company's investments in new products in line with the Company's strategy and thereby growth and profitability for the upcoming years. The Company estimates the result for year 2021 to be clearly unprofitable as a consequence.
Earlier guidance, published 23.2.2021 and repeated 27.8.2021:
The COVID-19 pandemic still impacts our business in 2021 causing uncertainty about the possible continuation of the temporary regulation and thus making it difficult to predict especially the level of growth in funding provided by our loan investors. Despite the uncertainty, we expect revenue growth compared to 2020. We also anticipate that the result for 2021 will remain slightly unprofitable because of investments in new products and growth for the upcoming years.
Fellow Finance Plc
Board of Directors
Further enquiries
Teemu Nyholm: CEO, Fellow Finance Plc, teemu.nyholm@fellowfinance.fi,tel. +358 50 577 1028
Certified advisor: Evli Bank Plc, tel. +358 40 579 6210
Fellow Finance Plc is a loan-based crowdfunding and peer-to-peer lending platform. The company's mission is to transform the traditional financing and payments to direct transactions between people and businesses. Fellow Finance has intermediated consumer and business financing of more than 850 million euros in Finland, Sweden, Denmark, Germany, Poland and the Czech Republic and served more than 950 000 customers. The company is regulated by the Financial Supervisory Authority of Finland as an Authorized Payment Institution and listed on the Nasdaq First North Growth Market Finland. www.fellowfinance.com.