Blue Finance has once again been rewarded Kauppalehti Achievers-certificate. The certificate, given only to a small number of Finnish companies, shows that in terms of financial capacities, the company is included among both the top companies in Finland as well as the companies in its particular field. This is the sixth time in a row Blue Finance has received the certificate, which means that the company has also received the distinguished Recurring Achievers -badge.
Blue Finance, a company providing international consumer credit and business financing, has received the Kauppalehti Recurring Achievers -badge. Only 2 percent of Finnish limited liability companies are able to reach this honour, which is awarded for companies that have received at least 50 points in Alma Talent’s Achievers-grading for five years in a row.
Having been awarded the Achievers-certificate since the year 2016, Blue Finance’s Recurring Achievers -badge is based on the accounting periods between 2016/06 and 2021/05. Based on the comparison, Blue Finance has been ranked as one of the best companies among all the Finnish companies as well as all the companies in its field. Blue Finance was compared to companies providing other financial service activities except insurance and pension funding.
The Achievers-ranking examines a company’s operation in six areas: a positive growth development, established operations, good profit and profitability, strong financial structure, and continuing liquidity that can ensure the company’s operation. Based on expert evaluations, the revenue of Blue Finance (LLC) in the long term has been good: the combined net earnings from the last five fiscal years were 33.9 million euros, with the average yearly gain being 6.8 million euros. On the long term, the gain on equity has been 18.4 percent.
”We are extremely happy and proud to receive this great honour and of the fact that our company is among the best in our field. The Recurring Achievers -badge shows that our operation is also on the long term of high quality and secure”, says the chief executive officer Lauri Lehtonen.
Last year saw a slight dip – however, this did not have a large effect on net earnings
According to the expert evaluation, the net earnings of Blue Finance had a slight decrease (-0.1 percentage points) in the year 2021 compared to the previous year. Despite of this, the revenue was still clearly positive. Even though the company’s net earnings decreased, the percent of net earnings rose remarkably from the previous fiscal year (+7.5 percentage points). The experts also noted that in the long-term Blue Finance’s revenue has been good.
Even though the financial autonomy ratio of Blue Finance (LLC) showed some decrease (-3.4 percentage points) from the previous year, it was still on an excellent level. The company’s buffers for loss were 66.7 million euros at the end of the fiscal year, or 280.3 percent of the net revenue, which according to the expert evaluation supports well the company’s ongoing operation. As a result of small indebtedness, the company’s financial margin for manoeuvre was good, which allows the company to obtain further funding if needed. Furthermore, the evaluation determined that the company’s internal financing was in order and the debt sustainability was good.
The new Recurring Achievers heads for the future with a strong growth strategy
Blue Finance, which this year celebrated its 10th birthday, has executed several large-scale renewals in 2021. The company has finished the year-long process of platform renewal, which allows the company to better tackle the needs of customers, thus increasing its operation to a larger and better direction.
The company, having offices in Finland, Denmark, and Spain, has also extended its operation by establishing a new subsidiary in Poland. Blue Finance Polska, founded in the spring of 2021, officially started its operation in September by issuing a loan to its first customer in Poland.
”Blue Finance has a strong strategy for profitable growth. We aim to further our operation also in the future by developing new loan products and expanding into new market areas”, says Lehtonen.