AS “mogo” earns 3.0 million during the first twelve months of 2016.
CORRECTION: Unaudited financial statements 2016 have been added. The rest of the information is unchanged.
Turnover amounted to EUR 10.4 million (14% increase, compared to 2015), EBITDA reached EUR 6.0 million (71% increase, compared to 2015), net profit was EUR 3.0 million (196% increase, compared to 2015) and net profit margin was 28% (159% increase, compared to 2015).
As at 31 December 2016 gross value of the lease portfolio reached 27.0 million euro (1% decrease, compared to 31 December 2015).
Audited Statement of Profit or Loss and other Comprehensive Income*
| In EUR | 01.01.2016.-31.12.2016 | 01.01.2015.-31.12.2015. | ||
| Interest and similar income | 10 412 789 | 9 125 559 | ||
| Interest expense and similar expense | (2 151 704) | (2 245 791) | ||
| Impairment | (886 854) | (2 319 016) | ||
| Gross profit | 7 374 231 | 4 560 752 | ||
| Selling expense | (501 656) | (459 995) | ||
| Administrative expense | (3 442 176) | (2 972 170) | ||
| Other operating income | 18 045 | 29 983 | ||
| Other operating expense | (4 396) | (19 258) | ||
| Other interest receivable and similar income | 1 222 | 26 977 | ||
| Profit before tax | 3 445 270 | 1 166 289 | ||
| Corporate income tax | (151 247) | (405 337) | ||
| Deferred corporate income tax | (330 524) | 241 704 | ||
| Total comprehensive income for the period | 2 963 499 | 1 002 656 |
Audited Statement of Financial Position*
| In EUR | 31.12.2016. | 31.12.2015. | ||
| NON-CURRENT ASSETS | ||||
| Intangible Assets | 1 020 061 | 685 069 | ||
| Property, plant and equipment | 177 638 | 222 431 | ||
| Investments in related companies | 20 | – | ||
| Finance lease receivables | 18 131 400 | 16 475 440 | ||
| Loans to related companies | 120 000 | – | ||
| Deferred tax | 79 004 | 409 528 | ||
| TOTAL NON-CURRENT ASSETS | 19 528 123 | 17 792 468 | ||
| CURRENT ASSETS | ||||
| Finished goods and goods for resale | 17 948 | – | ||
| Finance lease receivables | 6 795 700 | 7 293 284 | ||
| Loans to non-related parties | 2 056 | 2 977 | ||
| Receivables from related companies | 1 718 | 83 172 | ||
| Other receivables | 775 563 | 434 700 | ||
| Assets held for sale | 301 075 | 270 488 | ||
| Prepaid expense | 120 239 | 74 038 | ||
| Accrued revenue | 534 | 3 155 | ||
| Cash and cash equivalents | 147 024 | 399 884 | ||
| TOTAL CURRENT ASSETS | 8 161 857 | 8 561 698 | ||
| TOTAL ASSETS | 27 689 980 | 26 354 166 | ||
| EQUITY | ||||
| Share Capital | 5 000 000 | 5 000 000 | ||
| Currency conversion reserve | 1 | 1 | ||
| Retained earnings | 3 321 446 | 882 947 | ||
| TOTAL EQUITY | 8 321 447 | 5 882 948 | ||
| LIABILITIES | ||||
| Non-current liabilities | ||||
| Liabilities for issued bonds | 17 920 905 | 15 182 824 | ||
| Loans from non-related parties | – | 500 000 | ||
| TOTAL NON-CURRENT LIABILITIES | 17 920 905 | 15 682 824 | ||
| Current liabilities | ||||
| Prepayments received from customers | 222 875 | 198 369 | ||
| Loans from credit institutions | 703 707 | 3 555 962 | ||
| Trade payables | 79 902 | 103 787 | ||
| Payables to related companies | – | 369 744 | ||
| Loans from non-related parties | – | 187 864 | ||
| Taxes payable | 68 958 | 73 243 | ||
| Other liabilities | 96 942 | 106 351 | ||
| Accrued liabilities | 275 244 | 193 074 | ||
| TOTAL CURRENT LIABILITIES | 1 447 628 | 4 788 394 | ||
| TOTAL EQUITY AND LIABILITIES | 27 689 980 | 26 354 166 | ||
* audited financial statements prepared in compliance with the International Financial Reporting Standards approved in the European Union
Attachment: AS “mogo” audited financial statements for 2016 together with Independent Auditors’ Report.
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