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2018-08-29

Lendify Sweden 2 AB: Lendify Sweden 2 AB (publ) releases interim report for the period 2018-01-01 to 2018-06-30

First six months 2018 (compared with the first six months 2017)

· Operating income amounted to 5 903 KSEK (0 KSEK).
· Operating profit amounted to 163 KSEK (0 KSEK).
· Profit/loss after tax amounted to -9 470 KSEK (0 KSEK).

Second quarter 2018 (compared with the first quarter 2018)

· Operating income amounted to 4 482 KSEK (1 421 KSEK).
· Operating profit amounted to 1 110 KSEK (-948 KSEK).
· Profit/loss after tax amounted to -4 609 KSEK (-4 861 KSEK).

Financial overview

+---------------+-------+--------+--------+------------+-------------+
|KSEK |Q2 2018|Q1 2018 |Q2 2017*|Jan-Jun 2018|Jan-Jun 2017*|
+---------------+-------+--------+--------+------------+-------------+
|Operating |4 482 |1 421 |0 |5 903 |0 |
|income | | | | | |
+---------------+-------+--------+--------+------------+-------------+
|Operating |1 110 |-948 |0 |163 |0 |
|profit | | | | | |
+---------------+-------+--------+--------+------------+-------------+
|Net financial |-5 720 |-3 913 |0 |-9 633 |0 |
|income/expense | | | | | |
| | | | | | |
+---------------+-------+--------+--------+------------+-------------+
|Profit/loss |-4 609 |-4 861 |0 |-9 470 |0 |
|for the | | | | | |
|period | | | | | |
+---------------+-------+--------+--------+------------+-------------+
|Total assets |433 551|413 585 |0 |433 551 |0 |
+---------------+-------+--------+--------+------------+-------------+
|Operating |24.8% |E/T |- |2.7% |- |
|margin % | | | | | |
+---------------+-------+--------+--------+------------+-------------+
|Equity ratio % |8.5% |4.0% |- |8.5% |- |
+---------------+-------+--------+--------+------------+-------------+

*The company was incorporated 5 September 2017.

CEO comments

Lendify Sweden 2 AB (publ), org. no 559129-2981 ("Lendify Sweden 2"),
was incorporated 5 September 2017. The company is a wholly owned
subsidiary of Lendify AB, org. no. 556968-1744 ("Lendify"). Lendify
Sweden 2 has issued bonds of SEK 400 million. Funds from the bond
issue has been used to finance acquisitions of consumer loan
portfolios from Lendify. The average interest on the loan portfolio
was 7.4% as at 2018-06-30. During the period there were no realized
credit losses. Provision for credit losses amounted to SEK 3.1
million during the period.

+------------+--------------------------+------------------+
|Risk class |Per cent of nominal amount|Weighted UC score*|
+------------+--------------------------+------------------+
|A |11,9% |0,2% |
+------------+--------------------------+------------------+
|B |22,5% |0,5% |
+------------+--------------------------+------------------+
|C |18,5% |0,9% |
+------------+--------------------------+------------------+
|D |21,6% |2,1% |
+------------+--------------------------+------------------+
|E |15,6% |4,9% |
+------------+--------------------------+------------------+
|F |9,9% |10,9% |
+------------+--------------------------+------------------+
|Grand Total |100,0% |2,6% |
+------------+--------------------------+------------------+

* The UC score represents the propensity, at time of loan origination,
for a debtor to get payment remark (Sw: betalningsanmärkning) within
12 months.

Events during the first six months 2018

Lendify Sweden 2 issued bonds for SEK 400 million on 29 January 2018.
On 31 January 2018 the first portfolio of consumer loans was sold
from Lendify AB to Lendify Sweden 2 and the total nominal amount of
the portfolio was SEK 108 million. The second loan portfolio was sold
in May 2018 for SEK 240 million (nominal amount).

The Company has received unconditional shareholder's contribution of
SEK 46 million during the first six months 2018.

The bonds were listed on NDX, a regulated market operated by NGM, on
29 March 2018.

For further information, please contact:
Erika Eliasson, Chief Investor Relations Officer tel. no. +46(0)70 999
10 70

This information is information that Lendify Sweden 2 AB (publ) is
obliged to make public pursuant to the EU Market Abuse Regulation and
the Swedish Securities Markets Act (2007:528). The information was
submitted for publication, through the agency of the contact person
set out above, at 07:30 CET on 29 August 2018.

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http://news.cision.com/se/lendify-sweden-2-ab/r/lendify-sweden-2-ab--pub...
http://mb.cision.com/Main/16775/2602728/898829.pdf

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