Peer-to-Peer Lending Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024

LONDON, Aug. 29, 2016 /PRNewswire/ — This report aims to provide a detailed and vital analysis of the global peer-to-peer market along with revenue and growth forecasts for the period from 2014 to 2024. The global financial crisis, subsequently resulted in the emergence of the peer-to-peer lending outside of the traditional financial system especially in countries such as the U.S., the U.K. and Europe. Typically, the peer-to-peer lending business provides a unique and transparent platform to individuals, small businesses, and start-ups to invest or borrow money in few clicks

The report offers an in-depth study of the market drivers, restraints, and growth opportunities. Using these factors, the report identifies various trends expected to impact the market during the forecast period from 2016 to 2024. It includes a comprehensive coverage of the underlying economic, environmental, and technological factors influencing the peer-to-peer market. It provides the competitive landscape and analysis of key players in the global peer-to-peer market in order to highlight the state of competition and to identify the various business strategies adopted by them. In this report, the global peer-to-peer lending market is segmented on the basis of end-users and business models and geographies and explains the penetration of each market segment within various geographies, and how these segments have accelerated the growth of the market as a whole.

The end-users segment of the peer-to-peer lending market is classified into consumer credit, small business, student loans, and real estate and the business models segment is classified into traditional P2P model and marketplace lending model. Geographically, the global market for peer-to-peer lending has been segmented into five regions: North America, Europe, Asia Pacific, and Rest of the World (Middle East and Africa and Latin America). The market size and forecast for each region has been provided for the period from 2014 to 2024 along with the CAGR (%) for the forecast period from 2016 to 2024. The study also includes qualitative analysis of the competitive scenario for major countries/regions in these geographical segments.

The report includes an overview of the market strategies, annual revenues, and the recent developments of key companies operating in the market. The key market participants profiled in this study include LendingClub Corporation, Prosper Marketplace, Inc., CommonBond Inc., Upstart Network Inc., Funding Circle Limited, CircleBack Lending, Inc., Peerform, Social Finance Inc., Pave, Inc., and Daric Inc.

Market segmentation:

Global Peer-to-Peer Lending Market Analysis, By End-Users, 2014 – 2024 (US$ Bn)

Consumer Credit
Small Business
Student Loans
Real Estate
Global Peer-to-Peer Lending Market Analysis, By Business Model, 2014 – 2024 (US$ Bn)

Traditional P2P Model
Marketplace Lending Model
In addition, the report provides cross-sectional analysis of the peer-to-peer market with respect to the following geographical segments along with select country market estimates:

North America
The U.S.
Rest of North America
Europe
The U.K.
France
Germany
Rest of Europe
Asia-Pacific
China
Australia
Rest of Asia Pacific
Rest of the World
Middle East and Africa (MEA)
Latin America
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AmeriTech Financial Launches AmeriTechFinancial.org and AmeriTechFinancial.info

EL DORADO HILLS, Calif., Aug. 16, 2016 /PRNewswire/ — AmeriTech Financial continues to expand and is excited to announce their two new websites. The goal of unveiling these sites will be to inform both clients and industry professionals about AmeriTech beyond the services they offer.

Logo - http://photos.prnewswire.com/prnh/20160816/398721LOGO

The first of these two sites will be at the AmeriTechFinancial.info website and will expand upon everything AmeriTech Financial will be doing within the growing student loan industry. On this website, you will be able to learn in-depth industry news as well as company news and responses related to the ever-changing student loan environment.

Also on the AmeriTechFinancial.info website, they will be releasing informative articles informing future clients of the pitfalls of student loan debt and potential opportunities borrowers can take advantage of. As many of you already know, the information available online about student loans can be confusing and convoluted, so AmeriTech’s goal is to provide clear and informative information to student loan borrowers. A. However, AmeriTech’s mission doesn’t stop there.

AmeriTech Financial has also launched AmeriTechFinancial.org this week. One of AmeriTech Financial’s key values is helping others. This website will present all of the work AmeriTech Financial does with non-profits and charities. For example, AmeriTech Financial’s commitment to the “Hiring 500,000 Heroes” initiative to ensure that the brave and highly skilled men and women that have served our country receive employment opportunities once they’ve completed their service to their country. One of AmeriTech Financial’s finest contributions comes from their referral program. AmeriTech has partnered with Tango Card to give back to clients for referring AmeriTech’s services. Tango Card also offers the ability to donate the reward to charity. If one of AmeriTech’s clients chooses to donate AmeriTech will happily match their donation dollar for dollar.

Previously, AmeriTech Financial, in conjunction with Tango Card, worked with 14 charities on their rewards platform. This week it was announced by Tango Card that another charity was added to the rewards program, Huntsman Cancer Institute. AmeriTech Financial is very excited about this new non-profit as they believe that Huntsman Cancer Institute embodies AmeriTech’s core values, in addition to, working toward an extremely important cause. “Jon Huntsman, Sr., has had cancer four times. So he’s spent enough time in cancer hospitals to know what he’d do differently when he designed one from scratch. That’s why Huntsman Cancer Institute is unlike any other. It looks different. Feels different.” AmeriTech echoes the same sentiment of their industry as well when it comes to student loans. Many of those employed with the company have signed up for the service or have referred their own friends. Other employees have learned so much from working with AmeriTech that they are able to help themselves with their own unique situation. Just like any of the charities and non-profits, if our clients use their referral reward to donate to a fantastic cause, AmeriTech Financial will match that donation.

Furthermore, AmeriTech Financial will be talking about their non-profit and charity work as well as expanding upon each non-profit they are working with. This week, AmeriTechFinancial.org has released a spotlight on Hire Our Heroes. This not only informs on what AmeriTech is doing in the field but gives the readers and clients a chance to learn about a new special cause that may speak to them. Spreading the positivity through AmeriTech’s clients and through the charities they work with will help create a foundation upon which, AmeriTech Financial can make good on their statement that, “We’re in the business of helping people – it’s the backbone of our business.”

About AmeriTechFinancial

AmeriTech Financial is located in El Dorado Hills, California, right next to the California state capital of Sacramento. AmeriTech Financial has already helped thousands of people with financial analysis and student loan document preparation services for federal loan forgiveness programs offered through the Department of Education.

Each representative on the phone is certified through the International Association of Professional Debt Arbitrators (IAPDA) and has received the Certified Student Loan Professional certification through the Association for Student Loan Relief (AFSLR).

AmeriTech Financial prides themselves on their exceptional 24/7 Client Service.

Contact

To learn more about AmeriTech Financial, please contact:

AmeriTech Financial

1101 Investment Blvd Ste. 290

El Dorado Hills, CA 95762

1-800-792-8621

client.service@ameritechfinancial.com

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SOURCE AmeriTech Financial

Cascades Continues to Improve its Results for the Second Quarter of 2016

 

Mr. Mario Plourde, President and Chief Executive Officer, commented on the second quarter results: “We are pleased with the overall performance of our operations during the second quarter. Results in North America were in line with expectations, and highlight how our strategic investment in new equipment over the last few years is translating into improved efficiency, and a greater operational capacity to adapt to changing market dynamics.

We made important headway this quarter, and completed several relevant transactions. The first was in our Containerboard Packaging Group, which acquired a corrugated packaging plant in Connecticut. The move strengthens our position in the Northeastern United States by increasing our converting capacity, while also providing us with the platform to execute our longer-term development strategy of upgrading our asset base and growing our presence in this area. Our Tissue Products Group also announced plans to build a new converting plant in Oregon that will house state-of-the-art converting lines, slated to begin operating at the end of the first quarter of next year. In addition to providing us with a new strategically positioned base to service the Western US market, this new facility will be fed by our nearby mill, providing secured off-take for this operation and increasing our overall integration rate in Tissue. 

As for our financial results, the 9% increase in OIBD compared to 2015, was largely driven by the strong performance of our Tissue Papers Group, which increased its OIBD by 70%. In addition, our Containerboard Packaging and Specialty Products Groups also had a strong performance and successfully increased their OIBD by 9% and 14%, respectively. Quarterly sales and OIBD levels in North America benefited from a 5% decrease in the value of the Canadian dollar against the US dollar. The results of our European division were slightly weaker for the quarter, largely due to the ongoing challenging market dynamics, as well as some scheduled downtime at our German mill. On a sequential basis, consolidated OIBD increased 6% as each of our business segments improved their contribution.

Finally, we continue to work on our debt reduction objective. Sequentially, the decrease in our debt was mainly the result of stronger cash flows from operations which were partially utilized to make seasonal investments in working capital and capital investments. Our net debt to OIBD ratio now stands at 3.6x, bringing us closer to our targeted range of 3.0x to 3.5x.”

 

Financial Summary








Segmented OIBD excluding specific items 1








(in millions of Canadian dollars) (unaudited)

Q2 2016

Q1 2016

Q2 2015

Packaging Products





Containerboard

60

55

55


Boxboard Europe

17

16

19


Specialty Products

16

14

14





Tissue Papers

39

34

23





Corporate Activities

(20)

(13)

(8)

OIBD excluding specific items

112

106

103

1 – Refer to the “Supplemental Information on Non-IFRS Measures” section.



Selected consolidated information





(in millions of Canadian dollars, except amounts per share) (unaudited)

Q2 2016

Q1 2016

Q2 2015

Sales

998

1,003

950

Excluding specific items1





Operating income before depreciation and amortization (OIBD)

112

106

103


Operating income

65

59

59


Net earnings

35

34

24



per common share

$

0.38

$

0.35

$

0.25


Margin (OIBD)

11.2%

10.6%

10.8%

As reported





Operating income before depreciation and amortization (OIBD)

112

120

105


Operating income

65

73

61


Net earnings

36

75

24



per common share

$

0.38

$

0.79

$

0.25

1 – Refer to the “Supplemental Information on Non-IFRS Measures” section.

 

Analysis of results for the three-month period ended June 30, 2016 (compared to the same period last year)

Sales increased by 5% to $998 million compared to the same period last year, reflecting higher average selling prices combined with the positive financial impact of the lower Canadian dollar.

Operating income, excluding specific items, increased from $59 million in the second quarter of 2015 to $65 million in the second quarter of 2016. This improvement is attributable to the above-mentioned factors and favorable energy costs. Partially offsetting these benefits were higher corporate costs as well as production and maintenance costs, in addition to some production downtimes that were taken during the quarter, most notably at our recycled boxboard plant in Germany where we upgraded a section of the machine. When including specific items, operating income amounted to $65 million compared to $61 million for the same period last year.

In the second quarter of 2016, the main specific items, before income taxes, that impacted our operating income and/or net earnings were:

  • a $5 million unrealized gain on derivative financial instruments (operating income and net earnings);
  • a $9 million impairment and restructuring charge (operating income and net earnings);
  • a $4 million gain on the sale of assets following the closure of the Auburn, Maine, plant (operating income and net earnings);
  • a $6 million loss on share of results of associated and joint ventures on our portion of the Greenpac refinancing fees (net earnings);
  • a $6 million foreign exchange gain on long-term debt and financial instruments (net earnings);
  • a $2 million income tax expense related to assets sales in past years (net earnings).

Net earnings excluding specific items amounted to $35 million ($0.38 per share) in the second quarter of 2016 compared to $24 million ($0.25 per share) for the same period in 2015. Including specific items, net earnings amounted to $36 million ($0.38 per share) in the second quarter of 2016 compared to $24 million ($0.25 per share) in the same period in 2015.

Analysis of results for the three-month period ended June 30, 2016 (compared to the previous quarter)

On a sequential basis, sales remained relatively stable at $998 million, as higher shipments in all segments except Boxboard Europe were offset by the strengthening of the Canadian dollar and a decrease in our average selling prices, mainly in our tissue activities.

Operating income, excluding specific items, increased from $59 million in the first quarter of 2016 to $65 million in the second quarter of 2016. This improvement is attributable to a combination of the factors mentioned above and lower energy costs, which were slightly counterbalanced by higher depreciation expense and corporate costs.

For further details, see the tables on IFRS and non-IFRS measures reconciliation, included herewith.

Near-Term Outlook

Commenting on the near-term outlook for Cascades, Mr. Plourde added: “We are committed to delivering a solid operational performance through the end of 2016. Despite recent North American price decreases in Containerboard and the volatility in regards to fibre costs and the Canadian dollar, we expect that our Containerboard Packaging and Specialty products Groups will perform well through the third quarter, which is a seasonally strong period for these operations. In regards to our Tissue Group, we anticipate that sales and cost reduction initiatives will translate into a solid performance through the seasonally strong third quarter, followed by a cyclically softer fourth quarter. In Europe, we expect market conditions to remain soft, and order intake to continue to lag last year’s levels, with additional market and exchange rate uncertainty following recent events in different parts of Europe. While the fourth quarter is a cyclically slower period, the increased generation of waste paper following the end of summer vacations should contribute to positive supply dynamics and our sourcing teams are focused on the strategic management of our input material in order to reduce delivered cost to our mills.                   

In the near-term, we do not expect our third quarter results to match the record performance we achieved during the third quarter of last year, but we will continue to carefully manage our financial situation in order to direct a significant portion of our free cash flow to debt reduction, which is normally the case in the second half of the year. Longer-term, we remain committed to improving the efficiency and competitiveness of our operations through strategic investments, and the successful execution of our strategic action plan. By doing so, we will continue to build on our capacity to adapt to market dynamics, reinforce our operational foundation, and deliver improved productivity and overall performance. “

Dividend on common shares and normal course issuer bid

The Board of Directors of Cascades declared a quarterly dividend of $0.04 per share to be paid September 2, 2016, to shareholders of record at the close of business on August 26, 2016. This dividend paid by Cascades is an “eligible dividend” as per the Income Tax Act (Bill C-28, Canada).

In the second quarter of 2016, Cascades purchased for cancellation 315,069 shares at an average price of $8.56 representing an aggregate amount of approximately $2.7 million.

Conference call information

Management will discuss the financial results for the second quarter of 2016 during a conference call to be held today at 10:00 a.m. EST.

The call can be accessed by dialing 1-888-231-8191. The conference call, including the investor presentation, will also be broadcast live on the Cascades corporate website (www.cascades.com, Investors tab on the Home page). The broadcast replay will be available on the Cascades corporate website and by phone until September 5, 2016 by dialing 1-855-859-2056 and by using the access code 42826663.

Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres. The Corporation employs 11,000 employees, who work in close to 90 units located in North America and Europe. With its management philosophy, half a century of experience in recycling, and continuous efforts in research and development as driving forces, Cascades continues to serve its clients with innovative products. Cascades’ shares trade on the Toronto Stock Exchange, under the ticker symbol CAS.

Certain statements in this release, including statements regarding future results and performance, are forward-looking statements (as such term is defined under the Private Securities Litigation Reform Act of 1995) based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreases in demand for the Corporation’s products, increases in raw material costs, fluctuations in selling prices and adverse changes in general market and industry conditions and other factors listed in the Corporation’s Securities and Exchange Commission filings.

 

CONSOLIDATED BALANCE SHEETS




(in millions of Canadian dollars) (unaudited)

June 30, 2016

December 31, 2015

Assets



Current assets



Cash and cash equivalents

29

60

Accounts receivable

599

540

Current income tax assets

13

30

Inventories

487

494

Financial assets

1

1


1,129

1,125




Long-term assets



Investments in associates and joint ventures

308

322

Property, plant and equipment

1,583

1,608

Intangible assets with finite useful life

174

174

Financial assets

16

12

Other assets

43

80

Deferred income tax assets

179

181

Goodwill and other intangible assets with indefinite useful life

348

346


3,780

3,848

Liabilities and Equity



Current liabilities



Bank loans and advances

34

37

Trade and other payables

591

613

Current income tax liabilities

1

1

Current portion of long-term debt

34

34

Current portion of provisions for contingencies and charges

11

5

Current portion of financial liabilities and other liabilities

13

37


684

727




Long-term liabilities



Long-term debt

1,625

1,710

Provisions for contingencies and charges

32

34

Financial liabilities

35

47

Other liabilities

189

178

Deferred income tax liabilities

198

189


2,763

2,885

Equity attributable to Shareholders



Capital stock

486

490

Contributed surplus

16

17

Retained earnings

463

387

Accumulated other comprehensive loss

(40)

(27)


925

867

Non-controlling interest

92

96

Total equity

1,017

963


3,780

3,848

 

CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)





For the 3-month periods ended June 30,

For the 6-month periods ended June 30,

(in millions of Canadian dollars, except per-common share amounts and number of common shares) (unaudited)

2016

2015

2016

2015

Sales

998

950

2,001

1,860

Cost of sales and expenses





Cost of sales (including depreciation and amortization of $47 million for 3-month period (2015 — $44 million) and $94 million for 6-month period (2015 — $88 million))

834

801

1,680

1,585

Selling and administrative expenses

98

88

191

174

Gain on acquisitions, disposals and others

(4)

(4)

Impairment charges and restructuring costs

9

4

9

4

Foreign exchange loss (gain)

(1)

(2)

Loss (gain) on derivative financial instruments

(3)

(4)

(13)

10


933

889

1,863

1,771

Operating income

65

61

138

89

Financing expense

20

23

44

47

Interest expense on employee future benefits

2

1

3

3

Loss on refinancing of long-term debt

19

19

Foreign exchange loss (gain) on long-term debt and financial instruments

(6)

(13)

(42)

32

Share of results of associates and joint ventures

(1)

(5)

(15)

(9)

Earnings (loss) before income taxes

50

36

148

(3)

Provision for income taxes

13

8

34

4

Net earnings (loss) from continuing operations including non-controlling interest for the period

37

28

114

(7)

Net loss from discontinued operations

(2)

Net earnings (loss) including non-controlling interest for the period

37

26

114

(7)

Net earnings attributable to non-controlling interest

1

2

3

4

Net earnings (loss) attributable to Shareholders for the period

36

24