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MyBucks records operating profit (EBIT) of EUR 10.2 million for the first of the financial year

On the back of an increase in revenues, MyBucks operating profits in the first half of the business year 2016/2017 representing more than eighty percent of prior full year operating profit. Interim results are now available on the MyBucks website.

Luxembourg – WEBWIRE

Frankfurt-listed FinTech, MyBucks S.A., today announced its interim results for the six-months ended 31 December 2016. MyBucks recorded an operating profit (EBIT) of EUR 10.2  million and profit before tax (EBT) of EUR 2.8 million. For the full business year, the Company is on track to deliver earnings well in excess of prior year results.

Dave van Niekerk, CEO of MyBucks says, “Following the successful listing of the Company, MyBucks achieved record disbursements of EUR 63m, and revenues of EUR 25.7m. Management is confident that these first half year results will lay the foundation for a solid operating profit for the financial year ending 30 June 2017.”

MyBucks grew its loan book from EUR 41.2m as of 30 June 2016 to EUR 77.1m as of 31 December 2016. The growth of its loan book was delivered through organic growth of EUR 9.8m, and the integration of the loan books in Kenya, Mozambique, Tanzania and Uganda to the tune of EUR 23m. The Group believes it will continue to grow its loan book significantly in the second half of the current financial year.

MyBucks will drive organic growth by increasing its capital deployed while striving to enhance profitability through a reduction of financing costs. MyBucks is currently undertaking roadshows to list a private placement bond on the Vienna Stock Exchange by 31 March 2017, after successfully repaying its first listed bond in February 2017.

Further to its organic growth, MyBucks expects to continue its digital banking strategy to grow – benefiting from the significantly increased smartphone penetration. MyBucks expects further deposit taking licenses will allow the Company to better capture life-time revenue, and position itself for the future.

Finally – MyBucks will continue its Australasian expansion – utilizing its Australian operation as the backbone, with the intent of opening up lending operations in selected Asian markets prior to December 2017.

About MyBucks
MyBucks S.A. (WKN: A2AJLT, ISIN: LU1404975507, Ticker Symbol: MBC: GR) is a FinTech company based in Luxembourg that delivers seamless financial services through technology. Through its brands GetBucks, GetSure and Opportunity Bank the company offers unsecured consumer loans, banking solutions as well as insurance products to customers. MyBucks has experienced exponential growth since its inception in 2011 and today has operations in twelve African and two European countries as well as in Australia. MyBucks aims to ensure that its product offering is accessible, simple and trustworthy, in comparison to traditional, non-technological methods, ultimately working towards enhancing the benefits to the customer. The MyBucks’ product offering enables customers to manage their financial affairs easily and conveniently.
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 Dave Van Niekerk
 Financial Technology
 South Africa

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