AS mogo (the Company) continues to see rapid growth of business in Latvia. The Company’s interest and similar income for the ten-month period ending on 31 October 2014 totaled EUR 4,602,750, increasing by 154% compared to the same period last year. The Company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached EUR 2,201,301 and net profit for the period was EUR 605,497.

AS mogo net lease portfolio reached EUR 20,096,836, increasing by 180% in comparison to 2013 year-end results. Customer receivables which were overdue more than 30 days constituted 8% of the net lease portfolio.

The Company’s issued share capital was increased to EUR 5,000,000 in September 2014.

Find attached detailed information of financial results.

About AS “mogo”

AS “mogo” offers classical finance lease and lends against vehicles already owned by clients (a type of service known as leaseback), which is available by filling out an application on the company website, mobile website, over the phone, enquiring with one of more than 200 affiliated car dealerships, or at one of its client service centers in major cities throughout Latvia. Today, “mogo” group companies also operate in Estonia, Lithuania, and Georgia, with plans to expand business to other countries. Read more: www.mogofinance.com  

Contacts:

Kaspars Leimanis

CFO
Phone: +371 66900904
Fax: +371 66047063
Email: kaspars.leimanis@mogo.lv