Investor Presentaiton
Capital Ratio & Liquidity
Comments
■ Ferratum Group monitors its capital on the basis of its gearing ratio, calculated as net
debt to equity
■ As the deposit taking business has expanded, the borrowing base has increased
rapidly hence affecting total equity in relation to net debt
■In 2015, the Group went public resulting in net proceeds of EUR 46.2 million
■The adoption of IFRS 9 had a direct impact on the Group's equity, as the required
changes to the credit loss provision model led to an additional provision of EUR 20.9
million, of which the impact on equity was a negative EUR 15.1 million
■ No transition rule applicable as for traditional banks; the entire adjustment was taken
at cost immediately
■ The increase in cash over the past years is stemming primarily from the increase in
deposits, with EUR 183 million held in customer deposits as of December 2018
■ Cash position was also strengthened as Ferratum issued a EUR 100 million senior
unsecured bond in May 2018, which led to a surge in liquidity in Q2-2018
Hence, Ferratum Group has ample available liquidity to support the business of EUR 116
million as of December 2018
Liquidity Evolution (EURM)
Equity Ratio Ferratum Group
63.3%
55.4%
39.5%
34.5%
28.3% 0.0%
28.9%
.29.9%
26.9%
29.7%
31.3%
28.8% 28.1%
27.9%
24.1%
21.8%
21.7%
21.5%
18.9%
19.3%
Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Mar-18 Jun-18 Sep-18
Equity ratio Net equity ratio
Total Equity in Relation to Net Debt (EURM)
2.46
2.33
2.35
Post
Ferratum IPO
Dec-18
2.56
2.58
2.47
2.20
1.90
1.53
277.3
251.7
230.9
199.5
209.8
171
159
132 135
116
116
134.8
79
72 73 65
45.0
39
23 31
0.58
13 10 9 8
17
11
39
50.3
105.2
95.4
93.4
98.4
107.4
Q1
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Q2 Q3 Q4 Q1
Q2 Q3 Q4 Q1
Q2 Q3 Q4
30.6
13.2
Dec-12 Dec-13
38.6
87.9
15.7
21.4
77.6
Dec-14 Dec-15
2014
2015
2016
2017
2018
Total Equity
Dec-16 Dec-17
Net Debt
Mar-18
Jun-18
Sep-18
Dec-18
Net debt to equity ratio
Source: Company filings. Interim financials for FY 2018 restated.
ferratum
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