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Klarna records year-on-year operating income increase
Buy now pay later firm Klarna has recorded a total net operating income of SEK2.9bn (£248m) in the first quarter of 2021, a just under SEK900m (£77m) increase from the first quarter of 2020.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
The business - which has more than 90 million active users globally and two million transactions a day - also saw SEK57.6bn (£4.9bn) worth of purchases through the Klarna platform.
The firm recorded assets totalled SEK78.2bn (£6.7bn) - a year-on-year increase from the SEK45bn (£3.8bn) it made from quarter one in 2020. This included SEK12.7bn (£1bn) from its cash and balances with central banks, and SEK2.5bn (£214m) in intangible assets. In addition to this, it has SEK1.4bn (£120m) worth of assets in bonds and other interest-bearing securities.
At the end of the first quarter of 2021, it had SEK67.4bn (£5.7bn) worth of total liabilities - up from the SEK40.1bn (£3.4bn) it had at the same time last year. Of this, SEK38.2bn (£3.2bn) came from deposits from the public, SEK4.5bn (£385m) in debt securities in issue and SEK1.6bn (£137m) in accrued expenses and prepaid income.
Klarna had SEK10.7bn (£917m) in total equity in the first quarter of 2021, a more than SEK5bn (£428m) increase when compared to the SEK4.9bn (£420m) it made in the first quarter of 2020.
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