VIA SMS Group has closed the reporting period with a net turnover of EUR 25 387 460 that shows 21% increase in comparison to the same period in 2017. The most notable turnover increase of 51% was reached in Sweden, followed by Spain, where the subsidiary has demonstrated growth of 15%, and Czech Republic, where net turnover increased by 12% in comparison to the previous reporting period. Lithuanian subsidiary VIA Payments UAB has successfully started its operations in 2018, reaching a turnover of EUR 2 million and resulting in net profit of EUR 185 000. The Group’s consolidated EBITDA for 2018 has reached EUR 4 893 084 and consolidated net profit amounted to EUR 2 768 915.

Consolidated net loan portfolio of the Group as of December 31, 2018 was EUR 22 983 054, increasing by 27% in comparison to December 31, 2017. Operations in Sweden ensured the most notable increase of portfolio reaching 73% gap, Latvia demonstrated growth of 39% and net loan portfolio in Spain increased by 29%.

During 2018 the Group made substantial financial investments in the newly established subsidiary in Romania, digital payments platform VIA Payments UAB (Lithuania) operating under the brand name VIALET, and also invested in the further development of peer-to-peer lending platform VIAINVEST.

About the Group

AS VIA SMS group is an alternative financial services provider operating across Europe. The core business of the company is consumer lending and these services are provided under the brand names – VIASMS, SAVA.card, VIAKREDIT, VIACREDIT and VIACONTO. The Group has also established other brands offering various alternative finance services – VIALET, VIAINVEST and VIASPAR.

In 2018, AS VIA SMS group has been working on improvement of the quality of creditworthiness evaluation and customer service effectiveness in all markets. The company was also focused on the further development of peer-to-peer lending platform VIAINVEST. In 2018, VIAINVEST reached a significant milestone of having EUR 100 million loans funded through the platform.

AS VIA SMS group also continued developing digital payments platform VIALET, the brand operated by the Group’s subsidiary VIA Payments UAB, that has obtained an electronic money institution license in October, 2017. Since January, 2019 VIALET is available for retail customers across Europe.

On October 4,2018 the Latvian parliament (Saeima) approved amendments to the Consumer Rights Protection Law, that stipulates limitations to the total credit costs for the consumer to 0,07% per day. AS VIA SMS group’s subsidiary VIA SMS, SIA, that is directly affected by the legislative changes mentioned above, will continue providing consumer lending services in Latvia 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 of the demand for consumer lending products, given that short-term loans with small amounts will no longer be available in the market shortly after. When developing the product portfolio, AS 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.

In 2019 VIA SMS Group will continue strengthening its position in the markets where the company is represented (Latvia, Lithuania, Sweden, Czech Republic, Poland, Spain, and Romania) with a particular focus on developing and stabilizing business operations in Spain and Romania. AS VIA SMS Group development plans also include the launch of new innovative products as well as introducing credit line lending product in all the markets.

Audited consolidated and separate financial statements for the year of 2018 can be found in the Group’s website section Investor Relations or on Nasdaq Baltic website.