Helsinki, Finland, 2011-10-12 07:17 CEST (GLOBE NEWSWIRE) -- The business of Euroloan Consumer Finance PLC showed continued strong growth during Q3/2011. Sales volumes continued to grow during the quarter, resulting in an all-time record of 1.65 million EUR in sales turnover for the quarter. EBIT almost tripled from the previous year, and the company solidity improved considerably as the strong result increased shareholders' equity while external financing remained at the same level as before.
Business growth in percent:
| Q1/2011 | Q2/2011 | Q3/2011 | |
| vs Q1/2010 | vs Q2/2010 | vs Q3/2010 | |
| Sales growth | 17,5 % | 67,5 % | 73,9 % |
| Balance growth | 76,8 % | 169,0 % | 168,9 % |
| Equity growth | 50,4 % | 64,3 % | 71,3 % |
| EBIT growth | 161,6 % | 243,6 % | 189,1 % |
| Net Profit growth | 131,1 % | 238,1 % | 122,2 % |
Prognosis
Continued growth and strong performance are expected for the last quarter, resulting in considerably higher business volume and profit for the entire year than for the previous year.
Interim financial statement Q3/2010 and Q3/2011
| BALANCE SHEET | Q3/2010 | Q3/2011 |
| ASSETS | ||
| NON-CURRENT ASSETS | ||
| Intangible assets | 415 358,43 | 767 521,90 |
| TOTAL NON-CURRENT ASSETS | 415 358,43 | 767 521,90 |
| CURRENT ASSETS | ||
| Current Receivables | 4 362 003,56 | 7 905 666,16 |
| Cash and Bank Receivables | 225 438,40 | 1 981 105,91 |
| TOTAL CURRENT ASSETS | 4 587 441,96 | 9 886 772,07 |
| TOTAL ASSETS | 5 002 800,39 | 10 654 293,97 |
| EQUITY & LIABILITIES | ||
| EQUITY | ||
| Share Capital | 150 000,00 | 150 000,00 |
| Share Issue | ||
| Total Funds | 403 074,71 | 557 134,86 |
| Prepaid dividends | ||
| Retained earnings | 619 113,22 | 893 687,69 |
| Profit for the Financial period | 461 323,40 | 1 197 782,09 |
| TOTAL EQUITY | 1 633 511,33 | 2 798 604,64 |
| LIABILITIES | ||
| Current Liabilities | 2 328 769,74 | 7 855 689,33 |
| TOTAL LIABILITIES | 2 328 769,74 | 7 855 689,33 |
| TOTAL EQUITY & LIABILITIES | 3 962 281,07 | 10 654 293,97 |
| INCOME STATEMENT | Q3/2010 | Q3/2011 |
| SALES | 946 702,33 | 1 646 591,79 |
| Personnel costs | -118 501,66 | -125 451,69 |
| Other business-related costs | -509 047,06 | -598 529,66 |
| EBIT | 319 153,61 | 922 610,44 |
| Financial income and expenses | -48 264,57 | -324 630,37 |
| EBT | 270 889,04 | 597 980,07 |
| Tax | -71 719,41 | -155 474,82 |
| Net Profit | 199 169,63 | 442 505,25 |
The interim report contains unaudited figures and cost allocations, which may be different from those in the final annual financial statement. The financial statement includes the allocated credit losses for the quarter and revenues from the sales of written-off receivables.
For more information about Euroloan Consumer Finance PLC please see: http://www.euroloan.com
Jonas Lindholm, Group CFO, Board Director
Phone: +358 10 217 1003