Issuer: ID Finance Investments, S.L.
/ Key word(s): Half Year Results/Half Year Results
ID Finance Spain S.A.U. reports Strong Financial Results for the First Half of 2023, after originating €121.1M of consumer loans
In addition, the Company further solidified its financial stability with a strong equity position of 26%, representing a 2.6p.p. improvement from the previous year underscoring the company's commitment to prudent financial management and its ability to reinvest profits into growth initiatives. Combining growth and profitability highlights the strength of ID Finance marketing and risk management capabilities.
The strong capitalization and profitability levels achieved, exceeded with large headroom IDFinance Spain Eurobond covenants on equity/asset ratio (over 26% vs 15% required level) and interest coverage (over 3x vs 1.5x required level).
Overall, the figures highlight the continued success of ID Finance Spain strategy, driven by innovation and risk management capabilities, which have proven effective in navigating economic complexities and delivering consistent results.
Boris Batine, co-founder of ID Finance said: "Despite the economic challenges presented by the global landscape, ID Finance has maintained a strong performance in the first half of 2023. Our results are driven by our relentless focus on customer service, technological innovation, and operational efficiency. We will continue to harness these strengths to ensure we deliver excellent results and maximize shareholder value."
As ID Finance keeps strengthening its core product MoneyMan, the company remains committed to further developing its financial wellness app Plazo, recognized as the Best Financial Wellness App Spain 2023 at the World Business Outlook Awards. The company aims at delivering new innovative financial solutions that meet the evolving needs of its customers.
As an investor-friendly organization, IDFinance Spain S.A.U. provides opportunities for retail investors to participate in the company's growth offering generous returns while ensuring low risk levels. The company's €40 million Eurobond program (ISIN: XS2231806394) is available for trade on the Frankfurt Stock Exchange, enabling investors to invest starting from €1,000.
(*) Note: Financial statements are accessible on ID Finance S.A.U. website (idfinance.com). The financial figures stated in this press release are unaudited and reflect the performance of ID Finance Spain during the first half of 2023. The information is accurate as of the publication date.
About IDFinance Spain S.A.U.
ID Finance Spain S.A.U. is the leading alternative lending brand in Spain, specialized in providing innovative financial solutions. With a commitment to responsible practices, the company has consistently achieved strong financial performance while maintaining the highest standards of integrity and customer satisfaction.
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