Qred reports 46 % increase in operating income during Q3

Interim report 3rd quarter 2021

Qred continues to grow with profitability. Operating income during the interim period increased by 46% and operating profit amounted to SEK 7.2 million.

Major investments are being made in the development of new smart services and products that make life easier for small businesses. During the interim period, Qred has launched a credit card that gives small businesses up to 45 days of free credit, while we also help entrepreneurs gain better control and understanding of their financial situation.

Qred has signed an agreement with the Nordic Capital Evolution Fund regarding investment in Qred. The investment is made in partnership with Qred's management and founders. The goal is to develop new services aimed at companies and to continue to expand operations in Europe. The investment is dependent on Finansinspektionen's ownership review and closing is expected to take place during the first quarter of 2022.

Instead of issuing credits, Qred has chosen to mediate an increasing share of credits to third parties, which resulted in commission income increasing by 76%, while interest income only increased by 15%.

Values ​​for the same period last year are stated within brackets.

July - September 2021

• The number of active users increased by 48% to 12,568 (8,469)
• Operating income increased by 46% to SEK 98.5 m (67.4)
• Commission income increased by 76% to SEK 61.1 m (34.7)
• Interest income increased by 15% to SEK 47.3 m (41.2)
• Operating profit amounted to SEK 7.2 m (10.1)
• Net income for the period amounted to SEK 5.6 m (8.0)

January - September 2021

• Operating income increased by 19% to SEK 266.9 m (224.4)
• Commission income increased by 100% to SEK 158.6 m (79.3)
• Interest income decreased by 9% to SEK 136.3 m (149.0)
• Operating profit amounted to SEK 8.7 m (28.1)
• Net income for the period amounted to SEK 6.3 m (27.0)

Significant events during the interim period

• On September 8th 2021 Qred signed an agreement with the Nordic Capital Evolution Fund regarding an investment in Qred Holding (publ).
• The shareholder meeting of Qred Holding AB (publ) decided on 18 August 2021 to increase the Company's share capital by SEK 41,975 through a new issue of 28,750 ordinary shares to be used as consideration in an acquisition of all outstanding minority shares in Qred Factoring AB.
• Qred has sold own bonds with a nominal value of EUR 5.0m.

Significant events after the interim period

• Qred has sold own bonds with a nominal value of EUR 4.7m.

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Read the full report on Qred's website: https://en.qred.se/bolagsinformation