December 3, 2021
AS DELFINGROUP PUBLISHES A REPORT MADE BY LHV BANK
AS DelfinGroup informs that AS LHV Pank, the largest domestic financial group and capital provider in Estonia, has made Initiation of Coverage Report providing insights of the company’s results, market environment and stock valuation. The report analyzes AS DelfinGroup current situation based on the latest publicly available data, estimates and sets a potential Fair Value Range for the company’s stock.
The report can be used by all the current and potential company investors to analyze AS DelfinGroup stock as an investment.
Full report available at AS DelfinGroup website www.delfingroup.lv/invest
The report has been prepared for informational purposes and should not be treated as a recommendation to buy or sell the company’s shares. The responsibility related to investment decisions lies with the investors.
AS LHV Pank was the Global Lead Manager and Bookrunner for the IPO of AS DelfinGroup in October 2021
About AS DelfinGroup
AS DelfinGroup is a licenced technology-based financial services company that was established in 2009 and operates under the brand names Banknote and VIZIA. The company continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), as well as sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35,000 thousand loans are issued every month and serviced by the professional team of more than 270 AS DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, AS DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and since 2021 as a share issuer on the Baltic Main List. The company’s IPO in 2021 attracted almost 6,000 new shareholders. The company regularly pays dividends to its shareholders. In 2020, the company's net loan portfolio grew to EUR 34.6 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends EUR 4.65 million. The company’s sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion and facilitating the circular economy. The company has been profitable every year since 2010.