|Emitents||mogo AS (213800DOKX626GYVOI32)|
|Veids||2.2. Iekšējā informācija|
|Versijas komentārs||Pievienots pielikums|
Loan portfolio up by 38.8% with strong performance in mature markets, further optimization of financing costs
OPERATIONAL AND STRATEGIC HIGHLIGHTS
FINANCIAL HIGHLIGHTS AND PROGRESS
Edgars Egle, CEO of Mogo Finance, commented:
“These strong results with revenues up by 54.4%, improved capitalization ratio and decreased effective funding costs reflect the strong foundation of Mogo Finance Group. The results are mainly driven by our mature and profitable countries in Latvia, Lithuania, Estonia and Georgia, while we have made a good progress and base for future improvements in profitability for countries launched in 2017 and 2018.
Investments in our people, IT, risk management and new countries have delivered the foundation for future profitability. These investments were critical for building sustainable and well-diversified business. We look forward to deliver our goals and continue to deliver best in class service to our customers."
The full unaudited report for the nine months ending 30 September 2018 is available here.
A conference call in English with the Group's management team to discuss these results is scheduled for 23 October 2018, at 17:00 CEST.
Please register here.
The presentation for the conference call will be available here as of 23 October 2018, at 9:00 CEST.
Mogo Finance (CFO), Email: email@example.com
Aalto Capital, Email: firstname.lastname@example.org
About Mogo Finance:
Mogo Finance is one of the largest and fastest growing secured used car financing companies in Europe. Recognizing the niche in used car financing underserved by traditional lenders, Mogo Finance has expanded its operations to 12 countries issuing over EUR 320 million up to date and running a net loan portfolio over EUR 130 million. Mogo offers secured loans up to EUR 15,000 with maximum tenor of 84 months making used car financing process convenient, both for its customers and partners. Wide geographical presence makes Mogo unique over its rivals and diversifies revenue streams.
Mogo Finance operates through its own branch network, more than 1,500 partner locations and strong online presence. Physical footprint makes Mogo Finance top of mind brand in used car financing. Established in 2012, headquartered in Riga, Latvia and operates in: Latvia, Estonia, Lithuania, Georgia, Poland, Romania, Bulgaria, Moldova, Albania, Belarus, Armenia and Ukraine.
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 Mature markets are Latvia, Lithuania, Estonia and Georgia