EBV Finance, the leading VAT refund provider in Central and Eastern Europe, has published its unaudited financial results for the first six months of 2018. The company was founded in 2009 in Lithuania and joined Mintos in May 2018. EBV offers its customers across the European Union (EU) very fast VAT refund services and has the largest VAT refund portfolio in the Baltics.
The net loan portfolio of EBV Finance has increased by 172% to EUR 22.4 million from the same time period last year, while its equity position has remained robust, with equity to assets at 20.9%. The growth of its net portfolio has fueled revenues that have increased by 80% compared to the first six months of 2017, to EUR 1.9 million. Moreover, EBV remains remarkably profitable even at this rapid pace of growth, with its net profit margin standing at 33%.
VAT receivables funded by EBV are a unique investment opportunity on the Mintos marketplace:
– VAT receivable is a claim against the respective country’s tax office who is required by EU legislation to refund the VAT amount, which makes defaults extremely unlikely.
– EBV has a B+ Mintos Rating. Less than 30% of loan originators on the Mintos marketplace have B+ or higher Mintos Rating.
– VAT receivables have short maturities, between 3 and 8 months.
– There have been no delays on payments and no defaults for EBV VAT receivables listed on the Mintos marketplace to date.
– All EBV VAT receivables come with a buyback guarantee from EBV.