Q2 Interim report January – June 2019

JANUARY – JUNE 2019 (COMPARED WITH JANUARY – JUNE 2018)

Revenue increased by 0.5% to SEK 224.8 million (223.7)
Net interest income increased by 2.8% to SEK 152.5 million (148.3)
Profit before tax (EBT) decreased by 22% to SEK 69.3 million (88.9)
Cost/income ratio increased to 0.28 (0.23)
The return on equity was 30%

“During the second quarter, we converted to IFRS that together with other strategic investments are important steps towards realizing our vision of becoming a challenger neo-bank with an international presence. We have also introduced the second product under Rebilla, a unique loyalty program we named Rebilla Reward, that lowers the interest rate every time a customer pays their invoice on time. The two Rebilla product launches strengthen us in our belief, and prove, that our product-oriented and agile organization enables the strong innovative focus and makes it possible for us to continue to deliver on our ambitious targets. We have always put a strong emphasis on being able to quickly scale up and we are now experiencing the benefits of our long-term investments in people, processes and technology”, said Hikmet Ego, CEO and Co-founder Northmill.

The interim report Q2 2019 can be downloaded here.

For more information, please contact:
Tobias Ritzén, CFO
+46 72-534 97 61‬
tobias.ritzen@northmill.com

This information is information that Northmill Group AB (publ) is obliged to make public pursuant to the Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on August 30, 2019.