Uzum Holding AG ("Uzum" or "the Company") FY2024 Results

TASHKENT, Uzbekistan, Oct 14, 2020 /PRNewswire/ -- Net profit increased 50% to $150 million due to significant expansion across the economyMore than 40% of Uzbekistan's population now uses Uzum's servicesUzum, the leading digital services economy in Uzbekistan, today announces unaudited financial results for the twelve months ended December 31, 2024:Highlights- In 2024, Uzum's e-commerce and fintech services became more interconnected within the economy, resulting in significant growth in both areas, making these services an even bigger part of daily life in Uzbekistan. - Monthly active users (MAU) across the economy increased 61% year-on-year in 2024 to nearly 16 million, representing 40% of the country's population.- Net profit for fiscal year 2024 of $150 million, up 50% year-on-year, in line with the forecast provided in the Q3/9M 2024 results press release.Strong growth in commerce

- Consolidated gross merchandise value (GMV) for fiscal year 2024 is $345 million, representing year-over-year growth of 2.4 percent.

- Uzum Market continued to invest in the development of its logistics infrastructure and sales-oriented solutions. The successful launch of the FBS (Fulfilled by Seller) model and the commissioning of the largest warehouse facility in Central Asia in the third quarter enabled the marketplace to further expand its operations.- Uzum Tezkor counted more than 2400 partner restaurants at the end of the year, doubling year-on-year. The geographic coverage area covers 18 cities and reflects the growing popularity of the express service as more and more Uzbek citizens trust in its convenience and quality.Rapid acceleration of FinTech- Uzum's FinTech vertical became one of the key growth drivers of the entire economic system last year.- As of December 31, 2024, the company had issued more than 700,000 Uzum Bank-branded Visa debit cards with a revolving credit line. In Q4 2024, Uzum continued the rapid rollout of the product following its successful launch in late Q3 2024. Uzum Bank's cards will remain a key growth driver for the FinTech industry in the medium term.- FY2024 FinTech's BNPL (Buy Now Pay Later) TFV[1] reached USD 421 million (2.7% compared to the same period last year). Gross loan portfolio grew significantly in FY24, more than doubling to USD 226 million. Djasur Djumaev, Managing Director and Founder of Uzum, said: "2024 was another year of significant growth for Uzum. We strengthened our position as the clear national leader in our core verticals - commerce and FinTech. Backed by our operational excellence and well-invested infrastructure, we delivered outstanding performance. Our customer base increased by more than 60% compared to 2023 to nearly 16 million, representing 40% of the total population. Our commerce GMV more than doubled to $345 million, supported by continued investment in technology and infrastructure. In our fast-growing FinTech sales, unsecured lending increased significantly to $421 million. We will continue to drive the digitization of Uzbekistan's financial sector by making online financial services more accessible and convenient for people across the country. This was supported by the rapid launch of our revolving credit debit cards branded with the Uzum name Bank, with more than 700,000 cards issued in just four months since the product launch. A key objective for 2025 is to continue to grow Uzum Bank's card business, for which we aim to issue up to five million more cards. I am confident that with the capabilities we have built, we are well positioned to achieve this ambitious milestone and help millions of people in Uzbekistan access modern and convenient financial services. We plan to continue to expand our e-commerce business and develop deeper integration between the various services of our economic system, ultimately making a significant contribution to improving people's lives and driving the country's digital transformation." About Uzum Holding Uzum is a digital economic system and the largest digital platform in Uzbekistan, providing services in the fields of e-commerce, express delivery, banking and fintech, and business development. The economic system includes Uzum Market, an online marketplace with a wide range of products and one-day delivery across the country; Uzum Tezkor, an express delivery service from restaurants and shops; Uzum Bank, a digital bank; Kapitalbank, the largest private bank in the country; Uzum Nasiya, an online unsecured loan service, and Uzum Business, an app for business customers. More than 16 million people in Uzbekistan, i.e. over 40% of the country's population, use Uzum's services every month. For more information, visit uzum.com.[1] Loan disbursements: BNPL (without markup paid by the customer) and cash loansLogo - https://mma.prnewswire.com/media/2067732/4015311/Uzum_Group_Logo.jpgFor more information, please contact: [email protected] original content:https://www.prnewswire.com/news-releases/uzum-holding-ag-uzum-oder-das-unternehmen-fy2024-ergebnisse-302386642.htmlPress contact:Yana Gavrilova,[email protected],+998507224220Original content from: Uzum Group, transmitted by news aktuell

Original report: https://www.presseportal.de/pm/170512/5979863