creditshelf, an online lender providing access to capital for SMEs in Germany, has boosted its forward guidance slightly.
Last quarter, creditshelf reported a 10% increase in lending volume and revenue growth of 43% or € 2,366,000 in the first quarter of 2022 vs the prior-year quarter of € 1,657,000. At the same time, the company reported “a growing need for liquidity in the SME sector due to delivery bottlenecks and rising energy prices, which should further increase demand over the course of the year.”
Management forecasted a range of € 10 to 12 million for group sales for the year while predicting EBIT of negative € 0.5 to positive € 0.5 million for 2022.
Now creditshelf is adjusting guidance to EBIT break-even or €1 million for the year. Revenue for the year is unchanged.
The change follows an agreement on outstanding funding with the administrator of the insolvent Amsterdam Trade Bank (ATB). creditshelf said it will receive an income-relevant compensation from ATB for, among other things, lost revenues and additional expenses incurred.