FERRATUM CAPITAL GERMANY GMBH (FRA:DE000A1X) Ferratum Capital Germany GmbH: Ferratum Group reduces 2020 revenue and EBIT expectations
Transparency directive : regulatory news
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DGAP-Ad-hoc: Ferratum Capital Germany GmbH / Key word(s): Profit Warning Ferratum Group reduces 2020 revenue and EBIT expectations Helsinki, 18 March 2020 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) ("Ferratum" or the "Group") reduces 2020 revenue and EBIT expectations. In 2020, the Board of Ferratum Oyj expects the Covid-19 pandemic to have a material impact on the Groups performance. Revenue and EBIT are expected to materially decrease compared to 2019. Taking into consideration the current macro-economic uncertainty, impairment levels are expected to increase during 2020. An expectation of deteriorating economic indicators would increase impairments driven by the implemented statistical risk reserving model. In addition, the Board expects continued high volatility in FX rates as a consequence of the Covid-19 outbreak and the oil market turmoil which might have a negative impact on net profitability in 2020. About Ferratum Group: Ferratum Group is an international provider of mobile banking and digital consumer and small business loans, distributed and managed by mobile devices. Founded in 2005 and headquartered in Helsinki, Finland, Ferratum has expanded rapidly to operate in 23 countries across Europe, Africa, South and North America, Australia and Asia. As a pioneer in digital and mobile financial services technology, Ferratum is at the forefront of the digital banking revolution. Ferratum has approximately 740,000 active customers that have an open Mobile Bank account or an active loan balance in the last 12 months (as at 31 December 2019). Ferratum Group is listed on the Prime Standard of Frankfurt Stock Exchange under symbol 'FRU.' For more information, visit www.ferratumgroup.com. Contacts:
18-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Ferratum Capital Germany GmbH |
| Helmholtzstraße 2 - 9 | |
| 10587 Berlin | |
| Germany | |
| Phone: | + 49 (0) 30 921005844 |
| E-mail: | ir@ferratum.com |
| Internet: | www.ferratumgroup.com |
| ISIN: | SE0011167972 |
| WKN: | A2LQLF |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1000201 |
| End of Announcement | DGAP News Service |
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1000201 18-March-2020 CET/CEST