Multitude Group Announces Restated Interim Results for 2023

Helsinki, 15 May 2024 – Multitude SE, a European FinTech company, has published its restated interim financial results for 2023. This revision follows changes in accounting policies and the correction of errors identified in previous periods. These amendments affect the presentation and classification within the financial statements for both current and prior periods.

The restatement includes alterations to the financial statement presentations to align with industry standards and enhance the relevance of provided financial information. Key changes include modifying the statement of financial position, restructuring the profit or loss statement, and revising cash flow statement presentations.

Error corrections were primarily related to the inclusion of collection costs in expected credit losses, reclassification of reminder fees as interest income, and adjustments to the handling of scoring costs. These corrections have been retrospectively applied to ensure consistency and comparability of financial data.

The company has also revised its organizational structure, which prompted the restatement of comparative interim disclosures of reportable segments. Multitude SE believes these changes will provide clearer insights into its financial health and performance.