The Group has closed the reporting period with a net turnover of EUR 24 854 095 that shows 24% increase in comparison to the same period in 2017. The most notable turnover increase of 52% was reached in Sweden, followed by Spain, demonstrating growth of 16%, and Czechia, where net turnover increased by 12% in comparison to the previous reporting period. Lithuanian subsidiary VIA Payments had fast and successful growth of operations in 2018, approaching a turnover of EUR 2 million and resulting in net profit of EUR 270 000. The Group’s consolidated EBITDA for 2018 has reached EUR 5 215 724 and consolidated net profit amounted to EUR 3 031 526.

During 2018 the Group has made investments in newly established subsidiary in Romania, digital payment services provider VIA Payments and has also invested in the further development of the peer-to-peer lending platform VIAINVEST.

Consolidated net loan portfolio of the Group as at December 31, 2018 was EUR 22 439 857, which has increased by 23% in comparison to December 31, 2017. Operations in Sweden ensured the most notable increase of portfolio of 68%, Latvia demonstrated growth of 36% and net loan portfolio in Spain increased by 22%.

In 2018 the main goal of VIA SMS group was strengthening its positions in existing markets and intensively developing existing product portfolio, in particular focusing on Romanian subsidiary established in 2017 and currently operating under the brand name VIACONTO.ro, as well as expanding various lending opportunities in all markets. Taking into account customer needs, the Group has restructured its lending products in Sweden and Latvia by introducing credit line that allows customers to apply for a higher amount and enjoy favorable repayment terms. After evaluating the overall market situation in Poland, the Group has decided to discontinue operations of its consumer lending brand Cashalot. VIASMS.pl still remains active and significant market player in Poland.

With a reference to the amendments to the Consumer Rights Protection Law approved by the Latvian parliament (Saeima) that stipulates limitations to the total credit costs for the consumer to 0,07% per day, VIA SMS group has released a public statement informing that it will continue to provide consumer lending services in Latvia through its subsidiary VIA SMS Ltd. after the approved amendments come into force on July 1, 2019. The Group foresees, that limiting total credit costs for the consumer may have an impact on the non-bank lending market in Latvia, but it may also result in a significant increase in the demand for consumer lending products, given that short-term loans with small amounts soon will no longer be available on the market. When developing the product portfolio, JSC VIA SMS group has taken into consideration the fast-changing legislative environment of Latvia and has thus opted to remove short-term consumer lending product from the product portfolio offered in Latvia. According to sustainable revenue and expenditure planning policy, the Group has confirmed its ability to fulfill the obligations arising from the issued bonds. VIA SMS group has also emphasized that it has contributed significantly to the diversification of risks of loan interest rates by offering its services in several EU countries. Interest rates on consumer loans in other markets will remain unchanged.

Full financial statement can be found on Nasdaq Baltic website or in Group’s website section Investor Relations.