As we step into autumn, we’ve got some exciting news: our financial report for the second quarter of 2023 is here! In the fast-paced world of digital finance, being adaptable and resilient is super important because it helps us grow. Even though many companies faced some challenges in 2023, Hive Finance Group has shown that it can maintain growth during tough times and become even stronger.
In the second quarter of 2023, the group reported revenue from operations of 756,633 EUR which is 32% increase from the last quarter. While the EBITDA Q2 was 11,903 EUR. However, what shines brightly are the outstanding achievements of its subsidiary companies, Ekspres Pozyczka and hive5.
Ekspres Pozyczka, the loan provider under Hive Finance Group, has shown exceptional growth in the second quarter of 2023. With revenue from operations soaring to 1,315,277 EUR, the increase from last quarter is staggering ~132%, it’s evident that the company has been diligently serving its customers and expanding its market reach. Comparing this to the previous quarter’s revenue of 566,443 EUR, the growth is inspiring. Additionally, the net income for the second quarter jumped to 113,141 EUR, from 58,244 EUR in the first quarter which is ~94% increase. Also during Q2 the number of customers grew to an impressive 22,463 which shows ~40% increase from the last quarter. This impressive growth reflects Ekspres Pozyczka’s commitment to providing valuable financial services to its customers.
Hive5 has also made progress in the second quarter of 2023. The cumulative portfolio of Hive5 has expanded to 11,282,000 EUR, reflecting a remarkable increase of approximately 115% compared to the previous quarter. Moreover, the platform has seen a substantial rise in the number of active investors, which now stands at 2,836, marking an impressive surge of approximately 291% since the first quarter. Hive5 has also reported a significant upswing in revenue from its operations, with earnings totaling 65,423 EUR for the second quarter. This represents substantial growth, surpassing the first quarter’s revenue of 16,073 EUR by over 307%. It’s important to note that while the net income for the second quarter was -11,537 EUR, it’s crucial to contextualize this figure within the broader dynamics of the P2P industry. Various market forces and factors can influence both revenue and profitability in this sector.
Looking Ahead with Optimism
The exceptional growth of Ekspres Pozyczka and hive5 speaks volumes about the group’s potential. In the face of challenges, the group remains steadfast in its mission to provide valuable financial services to its clients. Undoubtedly, with optimism and adaptability as our guiding principles, the group of companies will have a bright and successful future.
Lending capacity constantly growing, thus no cash-drag with a big difference to other big platforms