Multitude SE experiences strong growth in 2024, with significant increases in EBIT and group revenue.

From GlobeNewswire: 2024-08-22 01:30:00

In the first half of 2024, Multitude SE saw significant growth, with EBIT increasing by 34.5% to EUR 28.3 million. Group revenue also rose by 17.0% to EUR 128.8 million, with all business units showing double-digit growth. The company remains on track to achieve an EBIT guidance of EUR 67.5 million in 2024.

By focusing on risk management, Multitude SE has seen continued growth and stability. Assets remained stable at EUR 986.8 million, while the company’s equity amounted to EUR 184.2 million. Multitude also successfully issued a four-year unsecured bond of EUR 80 million in the second quarter, reducing the premium and increasing the volume.

All three business units of Multitude SE showed positive development in the first half of 2024. Consumer Banking increased lending volume by 8.3% to EUR 462.8 million, while SME Banking expanded NET AR by 43.1% to EUR 130.2 million. The newly established Wholesale Banking business unit also recorded impressive growth in NET AR and EBIT.

CEO Jorma Jokela confirmed the outlook for 2024, with a focus on achieving a 50% increase in EBIT. Multitude SE remains confident in its potential for further growth and plans to expand its business activities. The company aims to increase Group earnings to EUR 30 million by the end of 2026, emphasizing financial stability and risk reduction.



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