CORRECTION: VIA SMS group AS interim consolidated financial statements for the first six months of 2018

LATVIA


Correction: Previously published interim consolidated financial statements of VIA SMS group AS for the first 6 months of 2018 includes cash and balances of VIA Payments UAB clients at Lithuanian Central Bank in amount of EUR 3 123 900. As a result of correction clients funds are represented as "Off balance sheet items". The correction affects consolidated statement of financial position, cash flow statement and notes. VIA SMS group AS repeatedly publishes interim financial report for the first 6 months of 2018.

During the period from 1 January 2018 to 30 June 2018, VIA SMS group AS operations were successful; the Group has closed the reporting period with a net turnover of EUR 10 493 305 and corresponding 9.7% increase in comparison with the same period in 2017. The largest net turnover growth is reached in Sweden. During the first six months of 2018 the Group has reached EBITDA of 2 251 091 EUR, ensuring the net profit of 1 251 708 EUR.

During the reporting period, significant growth was reached by the subsidiary operating in Sweden. Due to the optimization of the product portfolio based on the deep analysis of customer needs, the Swedish subsidiary experienced 28% growth in the net portfolio if compared to the last 12 months. Subsidiary in Poland, on the other hand, has experienced a slight decrease in the net turnover. Newly established subsidiary in Romania has shown stable operations and is currently focusing on strengthening its positions in the Romanian consumer lending market. Latvian subsidiary has also experienced growth following new product launch, as well as growing demand for payment card with credit line SAVA.card.

VIA SMS group AS

VIA SMS group is an alternative financial services provider operating across Europe. The company has been operating under several brands - VIA SMS, SAVA.card, VIAKREDIT, VIA CONTO, VIALET - and is offering consumer loans with a maturity term up to 24 months.   

During the first six months of 2018, the Group has mainly focused on strengthening its positions in existing markets where it is providing consumer lending services - Latvia, Sweden, Poland, Czechia, Spain, and Romania. The Group also intensively developed peer to peer lending platform VIAINVEST by promoting it in the public environment and attracting new investors.

The Group has also started an intensive development phase for the digital banking product VIALET that has acquired the Lithuanian electronic money institution license in 2017. It is planned to launch VIALET publicly in the second half of 2018.

         Viktorija Ratačova
         Chief Financial Officer
         VIA SMS Group AS
         Phone: +371 66102924
         E-mail: viktorija.ratacova@viasmsgroup.com


Attachments

Consolidated_financial_statements_VIA SMS Group_01012018_30062018_cor.pdf