creditshelf: High loan demand in Q1 2023

creditshelf: High loan demand in Q1 2023

• Requested loans reached nearly EUR 0.5 billion in Q1 2023 (+15%), which offers opportunities for positive business development in the course of the year
• Volume of arranged loans and revenue below prior-year period due to funding restrictions
• EBIT of minus EUR 0.7 million (Q1 2022: plus EUR 0.6 million) also reflects slightly higher personnel expenses and increased legal and consulting costs, as a result of intensified efforts on investor acquisition
• Forecast for 2023 fiscal year confirmed

Frankfurt am Main, May 12, 2023 ‒ creditshelf, the largest digital SME financier in Germany, published its figures for Q1 2023 today.

The figures for Q1 2023 illustrate the opportunities arising for creditshelf from the current market environment: The requested loan volume increased by 15% to EUR 490 million in the first three months of 2023 (Q1 2022: EUR 425 million). According to the KfW-ifo SME Barometer, the SME business climate has improved significantly since the beginning of the year and the expectations of entrepreneurs are at the highest level since the outbreak of war in Ukraine. We at creditshelf see this as an opportunity to fill the gap in SME financing with our product and to contribute to the upswing. creditshelf arranged loans in the amount of EUR 20.9 million (Q1 2022: EUR 41.3 million). The lower volume was caused by continued funding restrictions. Eliminating these restrictions before the end of Q2 2023 remains the top priority for the company. The Management Board therefore continues to assume that the new funding vehicle can soon be utilized for the first time.

Although creditshelf's revenues decreased by 36.5% compared to Q1 2022, the trend towards improved margins, which was already evident in the 2022 fiscal year, continues. At 5.4%, the total revenue margin, meaning the ratio of revenue to arranged loan volume, was significantly higher than in the same period of the previous year (4.0%). This was caused by higher fees for borrowers introduced by creditshelf over the course of the past year. Total expenses increased compared with Q1 2022 driven by higher personnel expenses resulting from an increased headcount of 68 permanent employees (prior-year period: 60 permanent employees) and increased legal and consulting expenses due to intensified efforts on investor acquisition. These expenses form the basis for a headcount adequate for the planned growth and the broadening of the investor base on the creditshelf platform. By contrast, many other non-personnel expense items, such as expenses for marketing and advertising, were reduced. With slightly increased regular depreciation and amortization, creditshelf closed Q1 2023 with an EBIT of minus EUR 0.7 million (Q1 2022: plus EUR 0.6 million).

The Management Board confirmed the forecast for the 2023 fiscal year published in the annual report 2022. With reference to the circumstances detailed in the annual report, the management board continues to expect consolidated revenues of EUR 8 to 10 million. Also at Group level, the Management Board expects EBIT in the positive range of EUR 0 to 1 million. The break-even point at full-year level should thus be reached in 2023.

 

Key figures at a glance

In EUR million Q1 2023 Q1 2022 Loan request volume 490 425 Arranged loan volume 20.9 41.3       In kEUR     Revenue 1,503 2,366 Of which borrower fees 1,119 1,639 Of which investor-, service- und advisory fees 384 727 Other operating income 217 203 Own work capitalized 149 127 Personnel expenses -1,558 -1,216 Marketing and advertising expenses -358 -150 Legal and consulting costs -68 -118 Third-party services -55 -101 Other expenses -344 -412 EBITDA -514 700 Depreciation and amortization -199 -145 EBIT -713 555 Net finance costs -53 -41 Net loss for the period -766 515

The full Q1 2023 statement is available for download on the Investor Relations website ir.creditshelf.com as of today.

 

Communications & IR:

creditshelf Aktiengesellschaft
Maximilian Franz
Head of Communications & Content
Mainzer Landstraße 33a
60329 Frankfurt
Tel.: +49 69 348 719 113
ir@creditshelf.com
http://www.creditshelf.com

 

About creditshelf

creditshelf is the next generation digital corporate financier. Founded in 2014 and headquartered in Frankfurt am Main, the company arranges bank-independent, flexible financing solutions via a steadily growing network. In doing so, creditshelf combines complementary needs: While SMEs can easily access attractive financing alternatives, institutional investors can invest directly in German SMEs and cooperation partners can support their clients as innovative providers of new credit solutions. The core of creditshelf’s business model is a unique, data-driven risk analysis as well as unbureaucratic, fast and digital processes. The entire value chain comes from one single source. The creditshelf platform is used to select suitable loan projects, analyze the creditworthiness of potential borrowers, provide credit scoring as well as risk-adequate pricing. For these services, creditshelf receives fees from both borrowers and investors.

creditshelf has been listed in the Prime Standard segment of the Frankfurt Stock Exchange since 2018. The experts of the creditshelf team have years of experience in SME financing and are trusted partners and visionaries for tomorrow’s entrepreneurs.