MYC4’s Annual Report for 2012 has now been finalised. It is available on the MYC4 platform together with the reports from previous years – find it under downloads here.
Overall, 2012 was a good year for MYC4 in terms of both volume and quality: the outstanding loan portfolio grew from €1.2 million in January to €2.2 million in December and the portfolio at risk above 30 days (PAR30) was kept below 5 % throughout the year.
As expected, MYC4 came out of 2012 with a loss of DKK 2.442.431. This represents a significant improvement since 2010 and 2011. The loss has been funded by new share subscriptions, primarily by the majority shareholder The Way Forward ApS but also from other shareholders. The accumulated losses over the years is seen as an investment by the Shareholders in building a profitable and sustainable business that can serve its stakeholders with fair and transparent financial services.
For 2013 we expect a loss of the same size and The Way Forward ApS has also offered to fund the budgeted cash needs. We continue our efforts to find new Shareholders to fund initiatives which can take the business the next step and grow it to critical mass.
MYC4 Annual Report 2012, page 15
The graph below shows the development of our Outstanding Loan Balance (OLB) and operating profit/loss from 2007 to 2012.