{"id":60440,"date":"2021-05-19T09:00:00","date_gmt":"2021-05-19T06:00:00","guid":{"rendered":"https:\/\/www.bondora.com\/blog\/?p=60440"},"modified":"2021-05-19T09:00:00","modified_gmt":"2021-05-19T06:00:00","slug":"the-road-to-1-billion-bondora-proudly-reports-a-profitable-2020","status":"publish","type":"post","link":"https:\/\/goandgrow.eu\/en\/blog\/the-road-to-1-billion-bondora-proudly-reports-a-profitable-2020\/","title":{"rendered":"The Road to 1 Billion \u2013 Bondora Proudly Reports a Profitable 2020"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Despite an unprecedented year in the global financial markets, Bondora announces its 4<sup>th<\/sup> consecutive year of profitability. <\/p>\n\n\n\n<div class=\"wp-block-image is-style-default\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/image-497.png\" alt=\"Investing made simple\" class=\"wp-image-60442\" width=\"656\" height=\"306\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-highlights\">Key highlights:<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Revenue increased by 5% to \u20ac21.4M<\/li><li>Net profit stood at \u20ac3.4M\u2014a 16% profit margin<\/li><li>Originations totaled \u20ac68.4M<\/li><li>Recoveries increased by 50% to \u20ac7.9M<\/li><li>44,738 new investors joined Bondora in 2020<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>2019<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>2020<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Change<\/strong><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Revenue (EUR)<\/td><td class=\"has-text-align-center\" data-align=\"center\">20 275 601<\/td><td class=\"has-text-align-center\" data-align=\"center\">21 379 772<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span class=\"has-inline-color has-vivid-green-cyan-color\">+5%<\/span><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">EBITDA (EUR)<\/td><td class=\"has-text-align-center\" data-align=\"center\">2 577 792<\/td><td class=\"has-text-align-center\" data-align=\"center\">3 945 362<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span class=\"has-inline-color has-vivid-green-cyan-color\">+53%<\/span><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Net profit (EUR)<\/td><td class=\"has-text-align-center\" data-align=\"center\">2 396 659<\/td><td class=\"has-text-align-center\" data-align=\"center\">3 427 040<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span class=\"has-inline-color has-vivid-green-cyan-color\">+43%<\/span><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Return on Equity<\/td><td class=\"has-text-align-center\" data-align=\"center\">62%<\/td><td class=\"has-text-align-center\" data-align=\"center\">47%<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span class=\"has-inline-color has-vivid-red-color\">-24%<\/span><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Return on Assets<\/td><td class=\"has-text-align-center\" data-align=\"center\">28%<\/td><td class=\"has-text-align-center\" data-align=\"center\">33%<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span class=\"has-inline-color has-vivid-green-cyan-color\">+19%<\/span><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Average number of employees<\/td><td class=\"has-text-align-center\" data-align=\"center\">65<\/td><td class=\"has-text-align-center\" data-align=\"center\">77<\/td><td class=\"has-text-align-center\" data-align=\"center\"><span class=\"has-inline-color has-vivid-green-cyan-color\">+18%<\/span><\/td><\/tr><\/tbody><\/table><figcaption><br \/><em>161,000 investors have invested over \u20ac426M and earned more than \u20ac52M in returns.<\/em><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-year-in-review\">&nbsp;A year in review<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the uncertainty in the market, our loan originations in Estonia remained steady throughout the year, totaling nearly \u20ac50M in 2020. At the beginning of the pandemic, we temporarily decided to stop issuing loans in Finland and Spain. Despite demand continuing to increase, Bondora chose to step back and assess the situation. As our risk models are updated continuously, Bondora was able to build any changes in payment behavior into credit risk decisions. An in-depth assessment of the loan portfolio was essential for long-term sustainability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the same time, Bondora was able to cut back significantly on operating expenses to maintain profitability. Specifically, we reduced marketing costs substantially in 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After assessing the data and with high confidence in our understanding of the market situation, Bondora restarted issuing loans in Finland toward the latter end of 2020. Originations in Spain are expected to resume in 2021, together with expanding into a new European market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Along with sustainable origination figures, 2020 was a record year for Bondora in recoveries. We recovered close to \u20ac8M throughout the year, which is approximately 50% more than 2019.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-ceo-comments-on-financial-results\">CEO comments on financial results<\/h2>\n\n\n\n<div class=\"wp-block-image is-style-default\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/image-498.png\" alt=\"\u201cWe\u2019re gearing up for growth,\u201d P\u00e4rtel Tomberg.\" class=\"wp-image-60454\" width=\"624\" height=\"416\" \/><figcaption><em>\u201cWe\u2019re gearing up for growth,\u201d P\u00e4rtel Tomberg.<\/em><\/figcaption><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOur core focus in 2020 was sustainability. Not only for consistency in our financials but for the customers who use Bondora day-in and day-out. Our priority was to give them certainty in an otherwise turbulent time. Building trust with our community is a lifelong commitment. And on that note, I\u2019d like to thank all our loyal investors for their continued trust and support. You are the visionaries spearheading the financial revolution from the ground up.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Equally important are our people who make everything happen. 2020 would not have been possible without the efforts of every single person in the Bondora team. They\u2019ve all shown incredible grit and persistence to keep pushing in times of uncertainty.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Referring to plans for 2021 and beyond, he continues, \u201cWe\u2019ve been meticulous in optimizing our core business, internal tools, and processes. Now we\u2019re gearing up for growth. As well as scaling our existing services for customers across Europe, our sights are set on solving the core problem. The average person cannot invest if they simply have no money to spare. That\u2019s why we\u2019re building a powerful new service for customers that will help them cut their costs and grow their money. All with a couple of clicks. We\u2019ll share more information on this in the coming months.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-live-q-a-with-p-rtel-tomberg\">Live Q&amp;A with P\u00e4rtel Tomberg<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.youtube.com\/watch?v=T-DXBjzEVx0\" target=\"_blank\" rel=\"noreferrer noopener\">Similar to last year<\/a>, there will be a live Q&amp;A for our financial results with P\u00e4rtel Tomberg, Bondora CEO and founder. The event will be live on YouTube today at 4 pm EEST. Send in your questions for P\u00e4rtel to answer <a href=\"https:\/\/app.sli.do\/event\/u5cqyo1p\/live\/questions\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>, and remember to tune into our <a href=\"https:\/\/youtu.be\/rk7eB60QTt8\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube channel<\/a> at 4 pm today.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">See you there!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/support.goandgrow.eu\/en\/what-is-the-current-financial-performance-of-the-bondora-group\">You can read the full 2020 Financial Report here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite an unprecedented year in the global financial markets, Bondora announces its 4th consecutive year of profitability. Key highlights: Revenue increased by 5% to \u20ac21.4M Net profit stood at \u20ac3.4M\u2014a 16% profit margin Originations totaled \u20ac68.4M Recoveries increased by 50% to \u20ac7.9M 44,738 new investors joined Bondora in 2020 2019 2020 Change Revenue (EUR) 20 [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":60454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[117],"tags":[102,103],"class_list":["post-60440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bondora-news","tag-bondora","tag-english"],"acf":[],"featured_image":null,"categories_names":["News"],"category_name":"News","_links":{"self":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/60440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/comments?post=60440"}],"version-history":[{"count":0,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/60440\/revisions"}],"wp:attachment":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/media?parent=60440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/categories?post=60440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/tags?post=60440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}