Credithelf Aktiengesellschaft, a market lender serving German SMEs, reports that expansion remains physically powerful for its platform, including the current COVID-19 challenge.
According to Credithelf, a counterfeit second quarter resulted in a significant expansion of profits of 41. 6% in the first six months of 2020 up to the same era last year.
Credithelf said the expansion was mainly due to a very strong quarter of the moment, in which there was an 80% increase in the volume of loans agreed to 34. 0 million euros compared to the 2019 quarter.
Credithelf believes it is well placed to continue growing by 2020 if the economy remains on the same trajectory.
Dr. Tim Thabe, CEO of Credithelf, commented:
“We are convinced that the Crown crisis will lead to a significant increase in digitisation, also in the lending sector. In addition, we assume that the call for loans from German SMEs will increase significantly in the occasion of an immediate economic recovery, and that this will create attractive opportunities for us. SMEs will want flexible and temporary financing solutions. With our complex threat research software and institutionally rooted investor base, we are well prepared to take advantage of those opportunities. During the summer months, we still automate our processes to make them even more efficient. “
In total, Crédits recorded consolidated sales of the organization of 2,501. 3 kEUR, 41. 6% during the first part of 2019 (1,766. 2 kEUR).
The pre-interest and tax profit (EBIT) of the first half of 2020 amounted to – 3015. 4 thousand kEUR (S1 2019: 2782. 7 kEUR), the expenses were affected by the accumulation of employees, according to the company.
Marketing expenses of 899. 7 kEUR in the first part of 2020 were lower than for the same time last year (1066. 5 kEUR).
Sales commission prices similar to lending through partners amounted to 180. 0 kEUR for last year’s period: 30. 1 kEUR. creditshelf said this had been affected through its partner network, adding Commerzbank.
Dr. Daniel Bartsch, Credithelf’s leading chief operating director, said they had gone to further diversify their investor portfolio after the launch of credithelf Loan Fund:
“The fund’s resources, which may be more than 150 million euros after the first closure already made, are complemented by the institutional investor base on our platform through the participation of the European Investment Fund and ensure medium-term refinancing. Combined with strong portfolio functionality in Times of Crisis, these points create exciting situations for institutional investors. “
The full report for the first part of 2020 can be downloaded from today in the company’s Investor Relations in ir. creditshelf. com.