creditshelf: Strong revenue growth and significantly improved EBIT in fiscal year 2021

• Group revenues increased by 49% to EUR 7.3 million (previous year: EUR 4.9 million)[1]
• Group EBIT improved to minus EUR 2.2 million (previous year: minus EUR 5.3 million)[1]
• New record high of EUR 166.9 million in newly arranged loan volume (previous year: EUR 98.9 million) together with optimized cost base as drivers of positive overall development
• Q4 2021 reached new record of quarterly arranged loan volume and is key driver of positive business and liquidity development[2]

[1] Preliminary, unaudited IFRS group figures
[2] based on EBITDA as well as operating cash flow, preliminary and unaudited

Frankfurt am Main, Germany, February 1, 2022 ‒ Based on preliminary, unaudited financial figures, creditshelf, the leading financier for digital SME loans in Germany, grew significantly in fiscal year 2021 and further substantiated its positive trend towards break-even. This successful business development underscores the importance of digital financing alternatives for German SMEs and illustrates the scalability of creditshelf's business model.

Preliminary Group revenues amounted to EUR 7.3 million (previous year: EUR 4.9 million). The main driver of growth was a company record in new business volume of EUR 166.9 million (previous year: EUR 98.9 million) of loans arranged via the creditshelf platform. This corresponds to a year-on-year increase of 69%. At EUR 1.68 billion, the volume of loans requested was also up compared to the previous year (EUR 1.53 billion). The higher conversion is testament of the improved quality of incoming loan requests based on a targeted marketing approach and a further optimized strategy in partner and direct sales. This puts creditshelf in the upper half of the Group's revenue forecast of between EUR 6 and 8 million issued on March 30, 2021.

Based on positive revenue development and reduced total expenses, which was mainly driven by an optimized cost base and sustainable investments, creditshelf achieved a preliminary group EBIT of minus EUR 2.2 million. This marks the upper end of the already improved EBIT forecast range of minus EUR 3 to minus EUR 2 million, which was published on November 19, 2021. In particular, personnel expenses (EUR 5.4 million, previous year: EUR 6.0 million) as well as other operating expenses (EUR 3.7 million, previous year: EUR 4.4 million) decreased. Own work capitalized amounted to EUR 0.6 million in 2021, up on the previous year's EUR 0.4 million. "In fiscal year 2021 we have proven the scalability of our business. For 2022, we will continue to make great strides along the path towards break-even," explains Dr. Daniel Bartsch, CFO and executive board member of creditshelf.

Driven by a strong Q4 2021, in which creditshelf was able to arrange a new quarterly high of EUR 56.0 million in loans, the company achieved the beforementioned, significant improvement in EBIT. Based on this positive operating performance, creditshelf in Q4 2021 was able to finish a full quarter EBITDA and operating cash flow positive for the first time in company history.

Dr. Daniel Bartsch comments, "Each of the loan projects successfully arranged in the past fiscal year is proof to me that there is a strong need for quickly available, bank-independent liquidity in the SME financing market. We believe that we are excellently positioned to be a strong partner to the forward-looking German SMEs of today and dynamic growth companies, the Mittelstand of tomorrow."

creditshelf will publish its fully audited, consolidated financial statements on March 30, 2022.
 

Communications & IR:

creditshelf Aktiengesellschaft
Maximilian Franz
Head of Communications and Content
Mainzer Landstraße 33a
60329 Frankfurt
Phone: 113

About creditshelf

creditshelf is the leading financier for digital SME loans in Germany. Founded in 2014 and headquartered in Frankfurt am Main, the company arranges bank-independent, flexible financing solutions via its constantly growing network. creditshelf caters to complementary needs: SME entrepreneurs gain easy access to attractive alternative financing solutions, institutional investors can invest directly in German SMEs, and the company's partners can support their clients as innovative providers of new credit solutions. creditshelf's business model revolves around its unique, data-driven risk analysis and unbureaucratic, fast digital processes. creditshelf covers the entire value chain: Its platform is used to select suitable credit projects, analyze potential borrowers' credit quality, perform credit scoring, and price risk adequately. The company receives fees from both borrowers and investors for these services.

creditshelf has been listed on the Frankfurt Stock Exchange's Prime Standard segment since 2018. The experts making up its team have many years' experience of SME financing and are trusted partners and visionaries for building tomorrow's businesses.