MASH GROUP PLC REPORTS INTERIM UNAUDITED FINANCIALS, H1 2018 ENDED 30TH JUNE 2018

Mash Group reports record H1/18 revenue, up 99% from H1/17. With H1/18 lending volumes surpassing full year 2017 and a strong EBIT of EUR 5.5 million achieved, Mash Group is extremely well positioned to continue executing on its growth plan, comments CEO Hickson.

FINLAND, Aug 13 (Bernama-GLOBE NEWSWIRE) -- Mash continued to grow rapidly in all markets during the second quarter, achieving record lending volumes and maintaining strong momentum.

Strategic Highlights

• Mash increases the size of its structured financing facility with funds managed by affiliates of Fortress Investment Group LLC (NYSE:FIG), from EUR 120 million to EUR 200 million.
• Mash was recognized as one of the Fintech50, Europe’s leading list of FinTech companies.
• AI Global Media, award CEO Hickson ‘Most Influential FinTech CEO of the year 2018’.

Operational Highlights

• Mash continued to grow rapidly in all markets during the second quarter, achieving a record Q2 2018 in terms of lending volumes (+27%) and revenues (+36%) compared to Q1 2018.
• Registered merchants for Mash’s pay later point of sale solution grew 733% in H1 2018.
• The number of new customers grew by 265% compared to H1 2017.
• The group initiated lending in Spain and saw stronger than anticipated demand for Group products.

Financial Highlights

• Lending volumes for H1/18 were 77% higher than H2/17 and 170% higher than H1/17.
• Revenues grew by 99% year-on-year and 63% compared to H2/17 to EUR 14.7 million, while EBIT increased 134% and 266%, correspondingly, to EUR 5.5 million.
• The Group’s solidity remains excellent, with equity increasing by 46% in 2018,  maintaining a strong equity ratio at 27%, while the total loan portfolio increased by 55%.
• Total assets grew by 55% in 2018 and 84% year-on-year to EUR 205 million.

Values based on pro-forma consolidated figures. For equivalent FAS values see below. 

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