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Operational and financial update Q4 2020

Kjetil S. Barli

Issued on NOTC.no 2021-01-08 07:54:18

Aprila’s gross income from lending grew by 71% in the fourth quarter, to an all-time high of NOK 10.1 million.

Gross loans amounted to NOK 184 million at the end of the quarter, an increase of NOK 63 million (+53%) compared to the end of Q3 2020. The credit line product launched in December 2019 accounted for 62% of gross loans at the end of the quarter.

Purchased amount in Q4 2020 amounted to an all-time high NOK 194 million, compared to NOK 115 million in Q3 2020. The 69% growth in purchased amount was driven by increased invoicing volumes, continually improved performance of the new invoice purchasing platform, and the expansion of the platform to now also purchasing B2C invoices.

On the first banking day in 2021 (4 January) Aprila surpassed NOK 1 billion of invoices purchased on our platform life to date. This has saved Norwegian businesses 936,654 days / 2,566 years of waiting to get paid from their customers.

At the end of the fourth quarter, Aprila had 2,954 customers, of which 2,909 business customers (spot factoring and credit line) and 45 retail customers (home rental). This represents an increase of net 677 customers (+30%) since the end of the third quarter of 2020. Aprila added net 632 business customers (+28%) and 45 retail customers in the quarter.

Aprila’s own channels accounted for 30% of the customers added in the quarter, followed by Fiken (28%), Visma eAccounting (17%), and Tripletex (10%).

Aprila expects the strong growth to continue.

Aprila’s Q4 presentation will be held on Friday 12 February 2021.

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Contact person at Aprila Bank ASA:
Kjetil S. Barli, CFO
+47 908 42 016
kjetil@aprila.no