Turnover amounted to EUR 7.5 million (11% increase, compared to the same period in 2015), EBITDA reached EUR 4.6 million (115% increase, compared to the same period in 2015), net profit was EUR 2.3 million (553% increase, compared to the same period in 2015) and net profit margin was 31% (491% increase, compared to the same period in 2015).
At the end of September 2016 gross value of the lease portfolio reached 28.2 million euro (4% increase, compared to the end of December 2015).
Interim Condensed Statement of Profit or Loss and Other Comprehensive Income
| In EUR | 01.01.2016.-30.09.2016 | 01.01.2015.-30.09.2015. | ||
| Interest and similar income | 7 477 571 | 6 766 611 | ||
| Interest expense and similar expense | (1 630 720) | (1 619 014) | ||
| Impairment | (240 899) | (1 828 764) | ||
| Gross profit | 5 605 952 | 3 318 833 | ||
| Selling expense | (377 871) | (451 829) | ||
| Administrative expense | (2 602 644) | (2 395 444) | ||
| Other operating income | 24 570 | 22 748 | ||
| Other operating expense | (4 793) | (18 652) | ||
| Other interest receivable and similar income | 22 170 | 26 953 | ||
| Profit before tax | 2 667 384 | 502 609 | ||
| Corporate income tax | (346 037) | (281 034) | ||
| Deferred corporate income tax | (29 473) | 129 321 | ||
| Total comprehensive income for the period | 2 291 874 | 350 896 |
Interim Condensed Statement of Financial Position
| In EUR | 30.09.2016. | 31.12.2015. | ||
| NON-CURRENT ASSETS | ||||
| Intangible Assets | 984 506 | 685 069 | ||
| Property, plant and equipment | 195 819 | 222 431 | ||
| Investments in related companies | 20 | – | ||
| Finance lease receivables | 19 027 480 | 16 100 752 | ||
| Deferred tax | 380 055 | 409 528 | ||
| TOTAL NON-CURRENT ASSETS | 20 587 880 | 17 417 780 | ||
| CURRENT ASSETS | ||||
| Finished goods and goods for resale | 4 100 | – | ||
| Finance lease receivables | 5 955 092 | 7 678 734 | ||
| Loans to non-related parties | 21 671 | – | ||
| Receivables from related companies | 1 499 | 83 172 | ||
| Other receivables | 125 885 | 172 012 | ||
| Assets held for sale | 312 415 | 259 725 | ||
| Prepaid expense | 127 713 | 74 038 | ||
| Accrued revenue | 610 | 3 155 | ||
| Cash and cash equivalents | 205 483 | 399 884 | ||
| TOTAL CURRENT ASSETS | 6 754 468 | 8 670 720 | ||
| TOTAL ASSETS | 27 342 348 | 26 088 500 | ||
| EQUITY | ||||
| Share Capital | 5 000 000 | 5 000 000 | ||
| Currency conversion reserve | 1 | 1 | ||
| Retained earnings | 2 881 730 | 589 856 | ||
| TOTAL EQUITY | 7 881 731 | 5 589 857 | ||
| LIABILITIES | ||||
| Non-current liabilities | ||||
| Liabilities for issued bonds | 17 597 046 | 15 200 026 | ||
| Loans from credit institutions | 1 300 000 | 3 539 913 | ||
| Loans from non-related parties | – | 500 000 | ||
| TOTAL NON-CURRENT LIABILITIES | 18 897 046 | 19 239 939 | ||
| Current liabilities | ||||
| Prepayments received from customers | 200 574 | 198 369 | ||
| Loans from credit institutions | 8 900 | 16 049 | ||
| Trade payables | 47 016 | 103 787 | ||
| Payables to related companies | – | 369 744 | ||
| Loans from non-related parties | – | 187 864 | ||
| Taxes payable | 71 684 | 83 466 | ||
| Other liabilities | 98 639 | 106 351 | ||
| Other provisions | 79 600 | 85 209 | ||
| Accrued liabilities | 57 158 | 107 865 | ||
| TOTAL CURRENT LIABILITIES | 563 571 | 1 258 704 | ||
| TOTAL EQUITY AND LIABILITIES | 27 342 348 | 26 088 500 |
This news release was distributed by GlobeNewswire, www.globenewswire.com – a Nasdaq company
