TrustBuddy P2P business beats all targets: reports SEK 260 million in lent out amount and SEK 38.4 million in net revenue.
TrustBuddy's financial figures for 2012 were presented today 10:30 a.m., and the company is reporting a staggering increase in borrowed funds. Lent amount has risen from SEK 52.5 million in 2011 to SEK 260.5 million in 2012, an increase equivalent to 400%.
Net revenue increased by almost 500% from SEK 6.6 million in 2011, to SEK 38.4 million in 2012. The company also presented increased profitability, with an EBITDA for the P2P platform, that increased from SEK 0.8 million in 2011 to SEK 8.6 million in 2012.
The increase takes place despite high start-up costs in the new markets and large investments associated with the process and application for a license with the Swedish Financial Supervisory Authority (Sw: Finansinspektionen) (the "SFSA") to conduct activities as a Swedish Credit Market Institution (Sw: kreditmarknadsbolag).
Lenders in the P2P platform, has this year received a good return and interest income. The average interest rate for TrustBuddy's lenders in the platform stopped at a very good 16.1% interest p.a. after losses.
TrustBuddy is experiencing a continuous strong growth, and has previously cautioned the market of several important markets being launched during 2013. These cautions are still in effect, with the first two new launches due to being published in March 2013.
For other financial details, please refer to the Q4 + 2012 preliminary report, published earlier today.
For additional information, please contact:
Jens Glasø, VD, TrustBuddy International AB (publ)
+47 40 40 47 50
About TrustBuddy International AB (publ)
TrustBuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at NASDAQ OMX First North in Stockholm. Mangold Fondkommission AB is TrustBuddy International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50.