Published: 2015-02-19 08:30:00 CET
TrustBuddy AB
Interim information

TrustBuddy: Year-end Result 2014

The Board of TrustBuddy AB (publ.), listed on NASDAQ First North, leaving the following quarterly report for October-December 2014

Fourth quarter, October - December 2014

  • Net revenues amounted to SEK 21,8 (14,3) million, 52% increase
  • Operating earnings before depreciation, EBITDA, amounted to SEK -22,8 (-2,3) million
  • Operating earnings, EBIT, amounted to SEK -24,6 (-3,0) million
  • Earnings after tax amounted to SEK -25,4 (-3,2) million
  • Cash flow from operating activities after changes in working capital amounted to SEK -22,9 (145,8) million

(Figures in brackets refer to the corresponding period last year)

The entire report period, January-December 2014

  • Net revenues amounted to SEK 85,1 (57,8) million, 47% increase
  • Operating earnings before depreciation, EBITDA, amounted to SEK -30,8 (-2,5) million
  • Operating earnings, EBIT, amounted to SEK -35,8 (-5,2) million
  • Earnings after tax amounted to SEK -36,5 (-5,5) million
  • Cash flow from operating activities after changes in working capital amounted to SEK -94,4 (145,0) million

(Figures in brackets refer to the corresponding period last year)

TrustBuddy AB Summary of the operating subsidiary

The operating activities are conducted through TrustBuddy AB org. No. 556794-5083 from offices in Stockholm and with support functions in each market and country. Figures reported below, refers only to TrustBuddy AB including affiliates and is therefore not the Group’s consolidated financial statements.

Net revenue and earnings

Fourth quarter, October - December 2014

  • Net revenues amounted to SEK 21,8 (14,3) million (+52%)
  • Earnings, EBITDA, amounted to SEK -13,3 (-5,7) million

The entire report period, January - December 2014 

  • Net revenues amounted to SEK 85,1 (57,8) million (+47%)
  • Earnings, EBITDA, amounted to SEK -21,3 (2,7) million

Volume and numbers

Fourth quarter, October - December 2014

  • Total number of loans: 64.102 pcs (+38,25% compared to the previous quarter)
  • Total amount lent: SEK 233,7 million (+76,49% compared to the previous quarter) 

The entire report period, January - December 2014

  • Total number of loans: 251.307 pcs (+53,79% compared to the previous year)
  • Total amount lent : SEK 827,7 million (+57,01% compared to the previous year)

  

The merger of TrustBuddy International AB and TrustBuddy AB

On February 13, 2015, the merger of TrustBuddy AB and TrustBuddy International AB was completed. This means that TrustBuddy International AB has dissolved and all its assets and liabilities have been transferred to TrustBuddy AB.

New accounting policies for greater transparency 

TrustBuddy has transitioned to reporting in accordance with the new K3 regulatory framework. K3 is mandatory for companies that are classified as large under the Annual Accounts Act. The company is also enacting this transition in the interest of ultimately providing an illustration of the company’s activities that is as fair and accurate as possible.

In conjunction with the transition to K3, TrustBuddy have simultaneously opted to implement some other accounting-policy amendments to further increase transparency. One of the most important amendments pertains to interest income that is transferred directly onward to TrustBuddy’s members.

Through the third quarter of 2013, this income was recognized as an income and an expense of equal amount. In practice, these two interest items cancel each other out, hence their elimination from the statement of profit or loss as of the fourth quarter of 2014.

As a result of this amendment, out sales appear to shrink, though it in fact has no impact whatsoever on the company’s profitability.

To facilitate the assessment of TrustBuddy’s actual growth, we will be stating figures in this report using both the new and old accounting policies, including figures from the past. 

 

This report and the attached pdf file is a translation and an abstract.
For the full quarterly report for the period, please refer to the Swedish version.

For more information please contact:

Linus Lönnroth, CEO, TrustBuddy AB (publ)

investorcare@trustbuddy.com

http://trustbuddy.com/

http://trustbuddyinternational.com/

 

About TrustBuddy AB (publ)

TrustBuddy 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 First North in Stockholm. Erik Penser Bankaktiebolag is TrustBuddy AB (publ)'s Certified Adviser, phone number: +46 8 463 80 00.

 


year_end_report_2014_eng.pdf