TrustBuddy AB announces a glimpse of Q1 2015 trading
TrustBuddy will publish its First Quarter report on the 20th of May. In light of the announcement of new strategy TrustBuddy will provide a glimpse of Q1 trading (all figures are preliminary). TrustBuddy expect to announce lent out volume close to SEK 350m, SEK 26m of sales, SEK 42m of operational costs and an EBITDA of SEK -16m during Q1.
TrustBuddy facilitated business loans (SME) of approximately SEK 76m and revenues were close to SEK 5m (approx. 20% of group revenues). Operational costs during the period were SEK 5m and EBITDA came in at SEK 0m. The SME product has originated over SEK 520m since start of operations in 2010. TrustBuddy is pleased with the developments of the SME product and anticipate further growth in its domestic market along with planned market expansion in the Nordics.
TrustBuddy’s consumer product facilitated loans of approximately SEK 273m and revenues of SEK 21m. Operational costs during the period were close to SEK 37m and the EBITDA came in at SEK -16m. Revenues came in as expected as TrustBuddy anticipates limited growth in its current offering until the consumer product is enhanced with offerings of long-term loans, during H215.
For more information please contact:
Linus Lönnroth, acting CEO and CFO TrustBuddy AB (publ)
About TrustBuddy AB (publ)
TrustBuddy is a leading diversified peer-to-peer group that operates in Northern Europe. The Group operates under three different brand names (Geldvoorelkaar, Crowdfunding Society and TrustBuddy). The group offers peer-to-peer financing for small and mid-sized companies and consumer loans.
The company is listed at Nasdaq First North in Stockholm. Erik Penser Bankaktiebolag is TrustBuddy AB (publ)'s Certified Adviser and market maker, phone number: +46-8-463 80 00.