2024 first half results: LM PAY breaks new records and continues to improve its performance

Warsaw, September 30th, 2024. LM PAY S.A.

The first half of 2024 was marked by record results. Well-established market position and perfectly tailored products are taking effect. LM PAY increased its revenue in the first six months of 2024 to the level of PLN 11.17 million (EUR 2.59 million). Compared to H1 2023 (PLN 7.63, EUR 1.71 million), sales growth reached remarkable 46%. The upward sales trend also continued in EBIT. LM PAY reports an 89% increase in EBIT in the first half of 2024, rising from PLN 1.62 million (EUR 0.36 million) in H1 2023 to PLN 3.07 million (EUR 0.71 million) in H1 2024. This is largely thanks to the  stable cost basis, the absence of one-off operating cost associated with the listing of LM PAY on the Dusseldorf Stock Exchange and the raising of funding from an investment fund in 2023. The lending fintech specializing in financing of medical treatments, beauty and aesthetics services delivered positive net results. The net profit (confirmed by the financial auditor) of PLN 2.02 million (EUR 0.47 million) for the first six months of 2024 confirms the strength of our professionally designed business model and the growing market for medical treatments in Poland.

The intensification of sales to existing clients and the continued acquisition of clinics for cooperation, driven by the rising demand for medical, beauty and aesthetics services in Poland, resulted in a 20.6% increase in acquired customers – from 17 thousand in H1 2023 to 20.5 thousand in H1 2024. The share of recurring customers remains high at 30%, reflecting our ability to meet customer needs and the repetitive nature of certain medical treatments.

Looking ahead, LM PAY remains focused on leveraging its strong market position, expanding its client base, and continuously enhancing its product offering. With sustained demand for medical, beauty and aesthetics services and a proven business model, we are confident in our ability to maintain growth and deliver long-term value to our shareholders.

For further information, please contact:

LM PAY S.A.

Grzegorz Pieszak

Lechicka 23A

01-156 Warsaw

Investor Relations

+48 881 780 994
investors@lmpay.pl