|
|
Post by explorep2p on Feb 8, 2019 18:41:13 GMT
Hi Forum Just to let you know that Twino have (finally) published consolidated results for 2017 and non-consolidated results to Sept 2018. In short, they are not very good, with very large losses in 2017 and a negative equity position as of Sep 2018. We published a note today that provides further analysis, may be of interest to any current / potential investors Twino auditors raise 'going concern' risks |
|
|
|
Post by southseacompany on Feb 9, 2019 5:25:02 GMT
Thanks for the heads up, explorep2p . Anyone investing in P2P loans with a buyback guarantee (which I guess is everyone here) should take this as a wake up call. Twino is the best in class in terms of structural protection in the BBG, since every loan is guaranteed by the parent company. Without the parent's guarantee it would be a shaky enterprise indeed since apparently over 80% of the originators may not be financially viable as independent entities. Imagine how you'd feel investing in a company like Twino where the BBG were given only by each country's local originator. Actually, you don't have to imagine since it exists and is called Mintos. And also Iuvo Group, Robocash, etc. |
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317 
Likes: 893
|
Post by JamesFrance on Feb 10, 2019 11:34:30 GMT
I made nany thousand euros with Twino in their early days, but since then their rates have been too low for the risk and I have withdrawn all but 10 euros. Don't they only have their own loans now?
|
|
|
|
Post by oneguy on Feb 13, 2019 20:19:26 GMT
Knew it that they are in some kind of trouble as they were not releasing any financial data.
Seems their 'best' offering today is 10% 1-3 month loans. Further thoughts about Twino vs. its peers?
|
|
|
|
Post by littleinvestor on Nov 14, 2019 23:01:00 GMT
Results look better now, see updates link |
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
|
Post by JamesFrance on Nov 15, 2019 8:47:11 GMT
I'm not an accountant, but an increase in the accumulated loss since the previous year from about 3 million to about 14.5 million does not look like good news to me.
|
|
|
|
Post by southseacompany on Nov 15, 2019 12:06:12 GMT
JamesFrance , the increase in accumulated loss stems from the group's losses in 2017. The company has since turned around and posted a nice profit in 2018, so the title of this thread is now clearly out of date. Twino's transformation is actually impressive, as it has gone in a couple of years from being completely dependent on Georgia to no longer originating any loans there (although I admit it has now become rather dependent on Russia). That displays a level of resiliency shared by few other LOs in the industry.
|
|
