Creditshelf Aktiengesellschaft reports half-year figures. In the first six months of this year, the company posted an increase in sales from 1.77 million euros to 2.5 million euros. However, before interest and taxes, the operating loss has risen and stands at EUR 3.02 million after EUR 2.78 million previously. The bottom line is that the deficit increases from 2.76 million euros to 3.12 million euros. For each creditshelf share there is a loss of 2.31 euros compared to a loss of 2.07 euros in the first half of last year. Investments in personnel and marketing weighed on the company’s earnings.
“We are convinced that the Corona crisis will lead to a significant boost in digitization – also in the lending business. We also assume that the demand for credit from German SMEs will increase significantly if the economy recovers quickly and that this will result in attractive opportunities for us. SMEs need flexible financing solutions that are readily available, ”says creditshelf CEO Tim Thabe. “Processes have been further automated in order to be even more efficient,” said the manager.
The forecast for 2020 confirms creditshelf. In 2020 sales are expected to increase further. The company expects an increase to between EUR 7.0 million and EUR 8.5 million. Investments in further growth, especially for personnel and software development, will continue to weigh on earnings. The company forecasts the operating loss for the current year at EUR 4.0 million to EUR 5.5 million.
At a glance – chart and news: creditshelf