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Financial report

Saldo continued on budget and began geographic expansion during Q2


Saldo Finance Plc. stayed within budget and financial results were in line with expectations during the second quarter. Saldo had a turnover of EUR 8.9 million (EUR 14.5 million), operating profit EUR 5.5 million (EUR 7.4 million) and net profit of EUR 4.4 million (EUR 5.7 million). In addition, Saldo achieved one of its key strategic milestones by expanding its business into Sweden in May.

Saldo’s operations came within budget during the second quarter. Saldo increased their profitability by 10% compared to the first quarter through the introduction of optimisations, which increased the efficiency of the business. The growth in profits also indicates that the market has recovered from legal changes brought about in autumn 2019. The decreased volume in lending was expected as new sales readjusted to the legal environment. However, due to the government’s actions, another readjustment might be needed as the Finnish government introduced a temporary rate cap for the second half of 2020.

Launch in Sweden looks promising

During the second quarter Saldo also made huge progress through the expansion of its lending operations into the Swedish market. The first product introduced in Sweden, Saldo SMS Lån, has had a successful start. Indications are positive, as sales have been promising and the market fit appears excellent. Saldo continues to work on introducing more products for consumers and SMEs, with the view to establish a strong position in the Swedish market.

The expansion of the business to Sweden is a natural step for Saldo’s growth strategy. In Sweden, Saldo is playing to its strengths through the use of a highly automated scoring system, which uses artificial intelligence and machine learning to assess customers' solvency and guarantees a quick loan decision. These are key strengths for Saldo when launching its lending operations into the Lithuanian market during 2020.

Saldo introduces new product line in 2020

Saldo consistently introduces new product lines and its latest addition was the introduction of an SME loan to the Finnish market at the end of 2019. Additionally, Saldo has continued to improve its offerings for consumers. Introducing Saldo Safe Payment Insurance at the beginning of Q3 to the Finnish market highlighted this. Payment insurance is a relatively recent and innovative product in the lending space and is likely to attract significant consumer interest.

Saldo has been successful in achieving its ambitious growth targets so far, however there are still a number of outstanding milestones planned for the remainder of 2020. This continuous growth will allow Saldo to excel in the execution of its long-term strategy, which is to become an International financial institution that differentiates itself through its proprietary lending & credit scoring system.

More information:

Jarkko Mäensivu


Tel. +358 50 470 1006


Saldo in brief:

Saldo Finance Plc. is a Finnish financial services company and a leading provider of fully automated credit solutions in Finland. Saldo offers flexible loans and car financing for both consumers and businesses. The company's advanced scoring system ensures responsible lending, and its own lending system also supports business growth internationally.

Saldo is a solvent and reliable partner whose net sales have grown by 56 per cent in the last three years. In 2019, the company's net sales were EUR 54 million and operating profit was 51 per cent of net sales. Saldo had 27 employees at the end of 2019.


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