creditshelf: Preliminary figures for H1 2023

creditshelf: Preliminary figures for H1 2023

• Preliminary consolidated revenues in H1 2023 amount to kEUR 2,858 (H1 2022: kEUR 3,886).
• Improved margin of 6.7% (H1 2023: 5.9%) partially offsets reduced arranged volume.
• Personnel expenses and other operating expenses stable, continued strict cost management.
• Preliminary Group EBIT at minus kEUR 1,038 (H1 2022: plus kEUR 1,485).
• Discussions with investors to resolve financing bottleneck on creditshelf platform advanced, solution expected in H2 2023.
• Forecast reduced due to existing funding bottleneck.

Frankfurt am Main, August 10, 2023 - creditshelf, a leading digital SME financier in Germany, today publishes preliminary figures for H1 2023.

Preliminary consolidated revenues of creditshelf amounted to kEUR 2,858 in H1 2023 (H1 2022: kEUR 3,886). The main reason for the reduced revenues was a decrease in arranged loan volume to EUR 42.5 million (H1 2022: EUR 65.9 million) caused by ongoing funding constraints on the creditshelf platform. The reduced arranged volume was partly offset by an improved margin: At 6.7%, the overall margin from the ratio of revenues to arranged loan volume was significantly higher than in the same period of the previous year (5.9%).

creditshelf is working steadily to eliminate the funding restrictions and expects a solution in the closer course of the second half of 2023. creditshelf CFO Daniel Bartsch gives an update on the current status: "We are in promising discussions with investors to resolve the bottleneck. In part, these discussions are already so advanced that we expect a solution on the investor side of our platform in the closer course of the second half-year of 2023. On the market side, we are experiencing high demand for our product despite the challenging macroeconomic environment. The volume of loans requested has increased again - a sign for us that German SMEs rely on financing solutions like ours." The volume of loans requested in H1 2023 was EUR 1.06 billion (H1 2022: EUR 0.97 billion).

Personnel expenses and other operating expenses in H1 2023 stood at the level of the comparative period. In order to meet the existing challenges for creditshelf, the Management Board has ordered continued strict cost management and a further reduction in expenses. At the end of H1 2023, the creditshelf Group reported a preliminary EBIT of minus kEUR 1,038 (H1 2022: plus kEUR 1,485). In the prior-year period, EBIT still benefited significantly from non-recurring other income.

In line with the situation described above, the Management Board has reduced the forecast issued in the Annual Report 2023 in April. Based on the assumption that the existing funding shortage on the creditshelf platform will be resolved in the closer course of the second half-year, the Management Board now expects consolidated revenues of EUR 5 to 7 million and consolidated EBIT of EUR minus 1 to minus 2 million.

 

Key preliminary figures at a glance

In EUR million H1 2023 H1 2022 Loan request volume 1,056.8 972.1 Arranged loan volume 42.5 65.9       In kEUR     Revenue 2,858 3,886 Of which borrower fees 1,977 2,705 Of which investor-, service- und advisory fees 881 1,181 Other operating income 705 1,954 Own work capitalized 330 265 Personnel expenses -2,976 -2,827 Marketing and advertising expenses -556 -241 Legal and consulting costs -129 -229 Third-party services -110 -188 Other expenses -731 -838 EBITDA -609 1,782 Depreciation and amortization -429 -297 EBIT -1,038 1,485 Net finance costs -121 -88 Income tax expense/income 0 -46 Net loss for the period -1,159 1,351

 

The full half-year financial report will be available for download on the company’s Investor Relations website ir.creditshelf.com from August 31, 2023.

 

Communications & IR:

creditshelf Aktiengesellschaft
Maximilian Franz
Mainzer Landstrasse 33a
60329 Frankfurt
Phone: +49 69 348 719 113
ir@creditshelf.com
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.