Fellow Finance Plc lowers guidance for year 2019
FELLOW FINANCE PLC COMPANY ANNOUNCEMENT, INSIDE INFORMATION 16 AUGUST 2019 AT 4:00 PM
Based on the preliminary unaudited results of H1 2019 and the business performance in July, Fellow Finance Plc lowers its guidance for full year 2019. The main reasons for the change in guidance is the lower than expected intermediated loan volume and decision to execute the international expansion strategy of the company more aggressively.
The new revised guidance for 2019
In 2019 Group net sales is expected to grow over 20% and adjusted EBIT to be lower than in year 2018.
The earlier guidance for 2019
In 2019 Group net sales is expected to grow over 30% and adjusted EBIT grow from year 2018.
Fellow Finance Plc publishes the half-year report 2019 on Friday 23 August 2019.
FELLOW FINANCE PLC
Jouni Hintikka, CEO, Fellow Finance Plc
+358 40 585 5009
Evli Bank Plc, tel +358 40 579 6210
Fellow Finance in brief
Fellow Finance Plc started its operations in 2014. The company is an expansive global FinTech group that provides crowdfunding services. A key role in the company’s business services is played by the leading Nordic¹ loan-based crowdfunding and peer-to-peer platform maintained by the company which has already been used by more than 670,000 customers in approximately 60 countries. Fellow Finance Plc is an Authorized Payment Institution supervised by the Finnish Financial Supervisory Authority of Finland and the shares of Fellow Finance Plc are listed on the Nasdaq First North Finland marketplace. The company has approximately 2,900 shareholders.
¹Measured by amount of financing facilitated. Source: Brismo Market Data (data accessed on 16 August 2019).