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Multitude SE Financial Results H1 2023 | Stellar Growth & Future Vision with IR


Multitude SE H1 2023: Key Takeaways

Key Financial Highlights

Lasse Mäkelä, Chief Strategy and IR Officer at Multitude SE provides a deep dive into the company’s outstanding financial performance during the first half of 2023.
Standout figures include a 66% surge in EBIT, reaching €20.9 million, and a significant 251% increase in profits, soaring to €7.5 billion. These figures display Multitude SE’s financial prowess and strongly align with the ambitious €45 million EBIT goal set for 2023.


Company Overview: Multitude SE

Founded in Helsinki in 2005, Multitude SE has demonstrated remarkable growth. Though its roots remain in Finnish origins, the company now boasts an EU-wide banking license, a dedicated professional team distributed across 18 countries, and an impressive client base approaching 400,000. This positive trajectory is also reflected in its 2022 turnover, which reached an impressive €212 million.


Core Business Units

The video highlights the following key business units driving Multitude’s operations:


Sweep Bank

Sweep Bank contributes 6% to the company’s overall sales as a nexus for shopping and financing.



Ferratum, a giant in consumer lending across 14 countries, is responsible for 84% of sales.


Capital Box

Capital Box specialises in SME lending, contributing 10% to sales.


Strategic Initiatives and Ventures

Lasse introduced the Warehouse Lending initiative, designed specifically for European non-bank fintech lenders, displaying early signs of success. Furthermore, acquiring a 19.97% share in Sortter, a Finnish Financial Services comparison platform, was highlighted as a strategic move in Q2 2023.


Financial Breakdown

Peeling back the financial layers, Multitude SE’s net revenues rose 5.8%, reaching €109.5 million. While there was a 6.5% rise in impairment losses, the company reduced bank and lending costs by 13%, personnel expenses by 6.4%, and general administrative expenses by 17.4%. Due to market interest rate fluctuations, finance costs nudged from €9.6 million to €11.6 million.


Concluding Remarks

Wrapping up, Lasse re-emphasized Multitude’s core vision: revolutionising financial services through swift, user-friendly, and sustainable digital innovations.

  • H1 2023 Key Takeaways
  • We have been creating success stories in Fintech for the last two decades
  • We have a clear vision of building the most values financial ecosystem
  • Currently our ecosystem includes three independent business units and our growth platform
  • Multitude group highlights H1 2023 – On Track with EUR 45 Million Ebit Guidance
  • Financial overview : Revenue growth with 66.0% EBIT Increase and 251.0% Profit Increase
  • Segment View – Tribe Performance
  • Impairment losses remain under 4% – Constantly strong asset quality
  • Funding structure and cost of debt capital
  • H1 2023 Key Takeaways
lasse - Multitude SE Financial Results H1 2023 | Stellar Growth & Future Vision with IR -%sitename%

Lasse Mäkelä
Chief Strategy and IR Officer | Multitude SE​


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