TWINO Group reaches historically best financial results since its inception

TWINO Group has summarized its audited financial results for 2018 with its consolidated net profit reaching EUR 9 million. This marks 2018 financial results as best in company’s history since its inception.

“Financial results of the past year show that the restructuring process started by the Group in 2017 with a goal to significantly improve efficiency both in operations, lending and investment product portfolio structure has brought the expected results in a very short time,” indicates the newly appointed TWINO Group CEO Anastasija Oleinika.

In 2018, Group issued loans totaling EUR 183 million. Compared to 2017, Group’s turnover in 2018 increased by 157% reaching EUR 90 million.

Group’s net portfolio reached EUR 27.2 million in 2018 while revenue was EUR 87.9 million, which is a 63% increase compared to 2017. Group’s equity reached EUR 15 million and cash totaled EUR 8.1 million.

Group’s Peer-to-Peer investment platform twino.eu continued its growth in 2018, strengthening its position as one of the largest Peer-to-Peer investment platforms in Continental Europe. In 2018, platform investor count increased by 40% reaching 16 228 investors, who earned an average annual return of 10.9%. More than EUR 530 million worth of loans have been financed through TWINO Peer-to peer investment platform since its inception in 2015.

“Also, this year Group continues implementing the previously started medium-term sustainability strategy by successfully restructuring its financial product portfolio. At the same time, Group long-term investment strategy execution has been started in 2019 by allocating resources to strengthening data science and IT competencies to further increase efficiency of existing processes as well as to develop new business directions. For instance, this year TWINO has already successfully entered small and medium enterprise financing segment in Latvia. Opportunities to expand Group’s geographical presence by investing in high-return markets are also being actively evaluated,” reveals TWINO Group CEO Anastasija Oleinika.