Today is the day our investors wait for the most - we reveal the financial results of Q3 of 2023 for Hive Finance, UAB, and its subsidiary companies. We also share the CEO of hive5’s thoughts about the most important business achievements. Thank you for trusting our company, and enjoy the reading!
CEO's Foreword
Dear Investors,
I am thrilled to share our company's remarkable financial results for Q3 2023 of Hive Finance, UAB and its subsidiary companies: hive5 marketplace d.o.o. and Ekspres Pozyczka, operating under the legal name Argentum Capital Sp. z o.o.
During Q3 2023, Hive Finance experienced a significant growth in consolidated revenue, increasing by 19.6% compared to the previous quarter, reaching a total of 904,500 EUR. One more remarkable achievement is the number of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), which witnessed a phenomenal increase to 106,800 EUR, marking an impressive 797% growth compared to Q2. Undoubtedly, this growth in results demonstrates the high expertise of our international team. However, there is still a lot of potentials to increase these numbers.
Moreover, I am delighted to announce the continued rapid growth of hive5 during the third quarter of 2023. One of the most motivating factors for business improvement is the rapid growth of the number of investors. By the end of the quarter, we had 3,540 active investors and achieved a cumulative portfolio exceeding 20.77 million EUR, compared to 11.2 million EUR in Q2. Additionally, our investors earned a competitive average annual investment return of 15.8%. These numbers illustrate our commitment to maximising returns and still delivering high value.
In addition, our loan originator, Ekspres Pozyczka, also achieved excellent results in the third quarter. The company's customers granted 5,755 loans for 5,755,000 EUR. This initial success reflects the strong market demand and the organisation's ability to meet borrowers' needs. Also, the team has started working on one more exciting project - Polish credit cards, which will undoubtedly strengthen our competitiveness in the Polish market.
Finally, in Q3, we started to develop a new loan originator in Spain, initiating the legal setup of Finjet company. As Spain's economy and online lending market continue to thrive, we are excited to integrate into this dynamic landscape, encouraging financial empowerment and providing enhanced diversification opportunities for our investors.
Thank you for your continued trust and support in our exciting journey.
Ričardas Vandzinskas,
CEO, hive5
Hive finance, UAB Management report for Q3 2023 – pdf 
