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Post by littleinvestor on Apr 23, 2016 7:42:03 GMT
jevgenijs : It was raised once in another thread , but now will cause an issue to drag new investors over the line: when going to www.twino.eu/about.html , figures are rather outdated. There are only old figures visible: Information for the year of 2015 is the company’s forecast as of October 1, 2015 Information for the year of 2014 is actual, unaudited Information for the year of 2013 is actual, audited Information on Twino “includes FINABAY group operations in Latvia, Poland and Georgia. That is only 3 out of 6 countries of operations, which one could not claim to be a consolidated financial statement. Further, there are still references to the 10% time: "All loans that are listed on TWINO platform are originated and serviced by FINABAY lending companies and this synergy allows us providing investors with the premium returns of up to 10% annually, as well as protecting investor money from the currency and default risk through the BuyBack Guarantee program." Going to www.finabay.com/en/about/ , no financial information either can be found online. The cash flow statement published of the originator, is necessary to assess ability of the company to honor the buyback covenant. What is available now, even being outdated, is aggregated profit and loss statement down to EBITDA (earnings before interest, taxes, depreciation and amortization), which is meaningless since interest expenses are part of the cost of doing business. I will check in the public company registers as even if I do believe the company has good fundamentals, lack of information on the company behind the curtains will keep investors away as they would not to trust it.
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Post by thep2pinvestor on Apr 23, 2016 10:19:29 GMT
Interesting remark Littleinvestor !
In the same context, as of today interest rates have moved to 13 %. Not sure if that is good or bad news....Does it mean that Twino/Finabay needs to raise more money and why ?
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Post by gmaxkenny on Apr 23, 2016 11:06:16 GMT
Interesting remark Littleinvestor ! In the same context, as of today interest rates have moved to 13 %. Not sure if that is good or bad news....Does it mean that Twino/Finabay needs to raise more money and why ? The 13% is for Georgia 12-24 mth loans Georgia 1 mth still 12% some Danish at 10%.
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Maestro
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Post by Maestro on May 8, 2016 11:10:47 GMT
jevgenijs : It was raised once in another thread , but now will cause an issue to drag new investors over the line: when going to www.twino.eu/about.html , figures are rather outdated. There are only old figures visible: Information for the year of 2015 is the company’s forecast as of October 1, 2015 Information for the year of 2014 is actual, unaudited Information for the year of 2013 is actual, audited Information on Twino “includes FINABAY group operations in Latvia, Poland and Georgia. That is only 3 out of 6 countries of operations, which one could not claim to be a consolidated financial statement. jevgenijs Twino could you comment on this? When are we expected to see updated financial statements? This is what you said in Nov of last year in response to a question: "When will the 2014 be audited, it seems rather late?`" Can't wait to change "Unaudited" to "Audited" on the website myself. Coming any day now.
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Post by jevgenijs on May 10, 2016 7:42:29 GMT
Hello, Maestro! We aim to update the "About Us" section with the most recent financials this week. Sincerely, Jevgenijs
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Post by littleinvestor on May 22, 2016 20:31:33 GMT
I don't think Twino is human made and is not placed on this planet, I guess a week in Twino is like a week on Venus instead.. still waiting for the update jevgenijs
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Post by jevgenijs on May 23, 2016 13:23:54 GMT
Hello, littleinvestor! The updated "About Us" section is now live. Apologies for the delay. Sincerely, Jevgenijs
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Post by littleinvestor on May 25, 2016 21:29:09 GMT
Thank you for the update and compliments to the IT for the nice and leek design !
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Post by jevgenijs on May 26, 2016 7:27:00 GMT
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shimself
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Post by shimself on May 26, 2016 11:11:57 GMT
At last!
1 Is 2014 audited?
2 The bad debt provision in 2015 seems very out of kilter. 2013-38%, 2014-33%, 2015-21%, 2016 forecast-30%
why the miraculous improvement in 2015, and why are you forecasting it will decline again this year?
3 I just want to check - turnover is interest received, and is considerably more than the size of the good loan book. In 2015 it was 28M from a loan book which was 20M at year end and something like 15M average over the year, so very roughly 200% annual interest rate. Have I understood correctly?
Steve
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Post by gemel on Jul 31, 2016 7:15:53 GMT
shimself, it is a pity you never got an answer to the above. This is when investors start getting nervous.
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JamesFrance
Member of DD Central
Port Grimaud 1974
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Post by JamesFrance on Sept 22, 2016 8:34:18 GMT
Well done Twino for releasing audited accounts for the Georgian company. Good to see one of the big four auditors.
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shimself
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Post by shimself on Sept 22, 2016 11:30:42 GMT
Well done Twino for releasing audited accounts for the Georgian company. Good to see one of the big four auditors. Well OK but it's only 16?% of their business so not all that meaningful Looking at their About Us financials page www.twino.eu/about.html?section=financials what catches my attention is the bad debt provision, for one how high it is (30+ % of gross loan book), and particularly the pattern 2013 38%, 2014 33%, 2015 21%!!!, 2016 30%. I wonder what a top 4 auditor could make of that?
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Post by geoffrey on Sept 26, 2016 7:17:11 GMT
Is 30% bad debt provision really surprising? You only have to look through the list of available investments to see how many loans are delayed, and this is only the tip of the iceberg given that delayed loans will be repaid by the Twino guarantee after 30 days of non payment. Do we know how much money or effort Twino put into recovery? If there is little recovery effort, then borrowers will come to see Twino as a soft touch.
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shimself
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Post by shimself on Oct 2, 2016 21:03:34 GMT
Is 30% bad debt provision really surprising? You only have to look through the list of available investments to see how many loans are delayed, and this is only the tip of the iceberg given that delayed loans will be repaid by the Twino guarantee after 30 days of non payment. Do we know how much money or effort Twino put into recovery? If there is little recovery effort, then borrowers will come to see Twino as a soft touch. 30% is kind of OK in that the interest rates of I dunno, 50% say result in a profit after all done and dusted. Not actually that I want to be any part of that, but that's just me. My point was the "miraculous" improvement in 2015, and then in the next year Twino discovered things hadn't got better after all. It made a handy improvement to the bottom line for a while though, and well I am asking for an explanation and none is forthcoming.
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