Multitude SE | Financial Results H1 2023 | Stellar Growth & Future Vision with IR

Multitude SE: H1 2023 Financial Overview IntroductionLasse Mäkelä, Chief Strategy and IR Officer at Multitude SE, discusses the company’s robust financial results for the first half of 2023, highlighting impressive growth metrics and strategic initiatives. Key Financial Highlights EBIT Surge: Multitude reported a remarkable 66% increase in EBIT, totaling €20.9 million. Profit Growth: Profits skyrocketed by 251%, reaching €7.5 billion, showcasing the company's financial strength and alignment with its €45 million EBIT goal for 2023. Revenue Increase: Net revenues climbed by 5.8%, amounting to €109.5 million. Company Background Founded in 2005 in Helsinki, Multitude SE has evolved into a prominent player in the financial sector, now holding an EU-wide banking license. The company operates with a dedicated team of around 700 professionals across 18 countries, serving nearly 400,000 clients. In 2022, their turnover was €212 million. Core Business Units Sweep Bank: Contributes 6% to sales, focusing on shopping and financing. Ferratum: A major player in consumer lending across 14 countries, responsible for 84% of sales. Capital Box: Specializes in SME lending, contributing 10% to sales. Strategic Initiatives Warehouse Lending: Recently launched to support non-bank fintech lenders in Europe, showing early signs of success. Sortter Acquisition: Multitude acquired a 19.97% stake in Sortter, a Finnish financial services comparison platform, in Q2 2023. Cost Management While impairment losses rose by 6.5%, the company successfully reduced costs in several areas: However, finance costs increased from €9.6 million to €11.6 million due to market interest rate fluctuations. ConclusionLasse emphasized Multitude's vision to revolutionize financial services through fast, user-friendly, and sustainable digital innovations, positioning the company for continued growth. Other Videos: Elevator Pitch Company Presentation Deep Dive Presentation Financial Results Presentation Terms & ConditionsThis publication is for informational purposes only and does not constitute investment advice. By using this website, you agree to our terms and conditions outlined at Legal and Imprint.