AS “mogo” informs, that effective from 15 March 2017, there are changes in the Board of the Company. The current Chairman of the Board Aleksandrs Čerņagins is being replaced by Edgars Egle. Aleksandrs Čerņagins will remain Member of the Board of AS “mogo”.
About AS “mogo”
AS “mogo” offers classical finance lease and lends against vehicles already owned by clients (a type of service known as leaseback), which is available by filling out an application on the company website, mobile website, over the phone, enquiring with one of 320 affiliated car dealerships, or at one of its client service centers in…
AS “mogo” earns 3.0 million during the first twelve months of 2016.
CORRECTION: Unaudited financial statements 2016 have been added. The rest of the information is unchanged.
Turnover amounted to EUR 10.4 million (14% increase, compared to 2015), EBITDA reached EUR 6.0 million (71% increase, compared to 2015), net profit was EUR 3.0 million (196% increase, compared to 2015) and net profit margin was 28% (159% increase, compared to 2015).
As at 31 December 2016 gross value of the lease portfolio reached 27.0 million euro (1% decrease, compared to 31 December 2015).
Audited Statement of Profit or Loss and other Comprehensive Income*
Non-bank car loan provider Mogo is expanding its presence on the Mintos marketplace!
Mogo will now offer car loans issued in Poland on the platform. The loan originator will offer investment opportunities in Polish zloty (PLN).
Mintos will host Mogo Poland loans from PLN 2 500 to PLN 35 000, with a repayment deadline of 6 to 48 months. The annual net return to investors will range from 8.5% – 11.5%. Mogo will offer a buyback guarantee for loans that are delinquent for more than 60 days. Loan originator will retain at least 5% of each loan placed on the Mintos platform…
Audited Annual Report for 2016 will be published on 28 February, 2017.
Unaudited interim condensed financial information for the 3 month period ended 31 March 2017 will be published on 28 April, 2017.
Audited interim condensed financial information for the 6 month period ended 30 June 2017 will be published on 31 August, 2017.
Unaudited interim condensed financial information for the 9 month period ended 30 September 2017 will be published on 31 October, 2017.
Turnover amounted to EUR 7.5 million (11% increase, compared to the same period in 2015), EBITDA reached EUR 4.6 million (115% increase, compared to the same period in 2015), net profit was EUR 2.3 million (553% increase, compared to the same period in 2015) and net profit margin was 31% (491% increase, compared to the same period in 2015).
At the end of September 2016 gross value of the lease portfolio reached 28.2 million euro (4% increase, compared to the end of December 2015).
Interim Condensed Statement of Profit or Loss and Other Comprehensive Income
By Eerik Oja, Country Manager of MOGO Estonia (email@example.com) | October 2016
Quite a few of the most active Mintos investors have shown interest in MOGO’s business, asking questions on Facebook groups and approaching me directly. This blog post aims to answer the most frequently asked questions.
Please note that even though the MOGO business model is similar in all countries in which we operate, there are also many differences, mainly due to regulatory requirements. Because of this, the information provided below does not necessarily apply to other countries in which MOGO operates, or to other loan originators.
MOGO Estonia offers…
We are happy to announce that Mogo loans without the buyback guarantee are now available on the Mintos marketplace. We are excited to bring to market yet another loan product that will allow investors to further diversify risk. With a total of EUR 130 million in loans originated since the company was founded in 2012, Mogo is the largest non-bank car loan provider in the region, with operations in Estonia, Georgia, Latvia, Lithuania, and Poland.
Loans without the buyback guarantee is an opportunity for investors to earn potentially higher net returns. Moreover, by investing in loans without the buyback guarantee,…
“Everyone should play to their strengths. Mogo’s expertise is issuing loans to customers. We have developed advanced process for assessing clients’ creditworthiness, and we are able to evaluate collateral at a very high accuracy in a timely manner.” (more…)