Robocash Group publishes results for Q1 2022
We would like to share the financial results of Robocash Group for the first quarter of 2022.
The Group was very cautious in its forecast for Q1, keeping in mind possible tightening of regulations in Kazakhstan and Russia and further business adjustment. But thanks to the effective work of our companies in Kazakhstan and the Philippines the negative impact of the Russian-Ukrainian crisis was minimized, and the results of the Group exceeded forecasts by 332%.
Here are the key figures compared to Q1 2021:
- The Group has issued 266.3 M USD worth of loans - up by 81.4%
- The Group’s revenue for the period amounted to 94.6 M USD, a 61.7% increase
The net profit came to 1.5 M USD, a decrease of 80.3% due to the events in Kazakhstan in the beginning of the year and tighter scoring policies in Russia; the latter made the Group’s reserves increase*.
*correction notice: The Group had increased reserves in Russia in Q1 as collection of existing debt slowed down in March, negatively impacting net profit. The company tightened scoring in order to improve collections in Q2 and offset the negative effect of accumulated reserves.
Key milestones and achievements:
- The loan disbursements and collection in the Philippines significantly exceed the plan. March was especially eventful, with the record setting 60k repeated loans, while new borrowers have amounted to 20k (instead of the planned 15k). All this resulted in a positive cashflow, 20% above the initial plan.
- The Group remains the undisputed segment leader in Kazakhstan. The sales and collection plans have both been overfulfilled - 118% and 112% respectively. Moreover, the revenue exceeded the planned budget by 5x times.