AS mogo

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  • #312952 Reply
    Nauris Treigys
    Keymaster

    Turnover amounted to EUR 13.7 million (30% increase, compared to the same period in 2016), EBITDA reached EUR 6.1 million (19% increase, compared to the same period in 2016), net profit was EUR 3.5 million (35% increase, compared to the same period in 2016).

    As at 31 December 2017 value of the net lease portfolio reached 30.6 million euro (22% increase, compared to 31 December 2016).

    “Mogo in Latvia posts another successful year with significant growth in profits, at the same time continuing to invest both in the development of services in Latvia, as well as in the growth of Mogo Group. Investments made in 2017 will bring significant returns to the company by gradually expanding into new segments of the lending market,” says Aleksandrs Čerņagins, Member of the Board of AS “mogo”.

    Condensed Statement of Profit or Loss and Other Comprehensive Income

    In EUR
    01.01.2017.-31.12.2017.
    01.01.2016.-31.12.2016.
    Interest and similar income 13 672 258 10 517 645
    Interest expense and similar expense (2 882 646) (2 151 704)
    Impairment (2 446 796) (886 854)
    Gross profit 8 342 816 7 479 087
    Selling expense (843 941) (747 348)
    Administrative expense (3 852 732) (3 726 806)
    Other operating income 46 153 18 045
    Other operating expense (25 303) (4 396)
    Other interest receivable and similar income 485 123 23 788
    Other interest payable and similar expense (925) –
    Profit before tax 4 151 191 3 042 370
    Corporate income tax (550 176) (102 378)
    Deferred corporate income tax (79 004) (330 524)
    Total comprehensive income for the period 3 522 011 2 609 468

    Condensed Statement of Financial Position

    In EUR 31.12.2017. 31.12.2016.
    NON-CURRENT ASSETS
    Intangible Assets 1 172 991 1 020 061
    Property, plant and equipment 144 756 177 638
    Investments in related companies 26 20
    Finance lease receivables 22 812 081 18 131 400
    Loans to related companies 17 865 000 120 000
    Loans and advances to customers 680 495 –
    Deferred tax – 79 004
    TOTAL NON-CURRENT ASSETS 42 675 349 19 528 123

    CURRENT ASSETS
    Finished goods and goods for resale 339 491 17 948
    Finance lease receivables 7 762 635 6 923 122
    Loans and advances to customers 463 718 –
    Loans to non related parties 16 065 2 056
    Receivables from related parties 200 751 1 718
    Other assets held for sale 367 683 301 075
    Other receivables 1 712 052 824 432
    Prepaid expense 361 280 120 239
    Accrued revenue 38 183 534
    Cash and cash equivalents 671 871 147 024
    TOTAL CURRENT ASSETS 11 933 729 8 338 148

    TOTAL ASSETS 54 609 078 27 866 271

    EQUITY
    Share Capital 5 000 000 5 000 000
    Currency conversion reserve 1 1
    Retained earnings 5 253 457 2 967 415
    TOTAL EQUITY 10 253 458 7 967 416

    LIABILITIES
    Non-current liabilities
    Liabilities for issued bonds 26 563 303 17 920 905
    Loans from non related parties 15 989 187 –
    TOTAL NON-CURRENT LIABILITIES 42 552 490 17 920 905

    Current liabilities
    Prepayments received from customers 298 826 222 875
    Loans from credit institutions – 703 707
    Trade payables 181 397 79 902
    Payables to related companies 3 872 –
    Loans from non-related parties 165 909 –
    Taxes payable 443 781 68 958
    Other liabilities 7 713 96 942
    Contingent liabilities 226 356 530 322
    Accrued liabilities 475 276 275 244
    TOTAL CURRENT LIABILITIES 1 803 130 1 977 950

    TOTAL EQUITY AND LIABILITIES 54 609 078 27 866 271

    Attachment: AS “mogo” condensed financial information for the 12 month period ended 31 December 2017.

    About AS “mogo”

    AS “mogo” offers classical finance lease and lends against vehicles already owned by clients (a type of service known as leaseback), which is available by filling out an application on the company website, mobile website, over the phone, enquiring with one of more than 270 affiliated car dealerships, or at one of its client service centers in major cities throughout Latvia. Company has more than 10 thousand active customers. Mogo group companies operate successfully not only in Latvia, but also in Estonia, Lithuania, Georgia, Poland, Bulgaria, Romania, Armenia, Moldova and Albania, with more plans to expand business in other countries. Read more: http://www.mogofinance.com

    Attachments:
    AS mogo condensed financial information for the 12 month period ended 31 December 2017.pdf

    #312998 Reply
    Nauris Treigys
    Keymaster

    Nasdaq Riga on March 1, 2018 decided to admit for trading AS “mogo” bonds on First North market operated by Nasdaq Riga as of March 6, 2018.

    Additional information:

    Issuer’s full name AS “mogo”
    Issuer’s short name MOGO
    Securities ISIN code LV0000880029
    Securities maturity date 31.03.2021
    Nominal value of one security EUR 1 000*
    Number of listed securities 10 000
    Fixed annual coupon rate 10%
    Orderbook short name MOGO100021B
    *The Nominal Value of one bond is EUR 1,000 and the Issuer will make Nominal amount payments of EUR 125.00 per bond once a quarter — on March 31, June 30, September 30, and December 31, starting from June 30, 2019 till maturity on March 31, 2021.

    Attached AS “mogo” Issue terms and Company description.

    The Certified Adviser of AS “mogo” BlueOrange Bank, AS till March 6, 2018.

    Attachments:
    Mogo_First North_Company_description_v6.pdf
    Mogo_Issue Terms_final_27.11.2017_signature.pdf

    #313121 Reply
    Nauris Treigys
    Keymaster

    Nasdaq Riga informs that due to the technical reasons trading in AS “mogo” bonds (ISIN code LV0000880029) on First North market will be possible as of March 7, 2018.

    #313122 Reply
    Nauris Treigys
    Keymaster

    Nasdaq Riga informs that due to the technical reasons trading in AS “mogo” bonds (ISIN code LV0000880029) on First North market will be possible as of March 7, 2018.

    Orderbook short name for AS “mogo” bonds (ISIN code LV0000880029) will be MOGO100021FA.

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