Continuing to show growth in all business segments, fintech company DelfinGroup increased the sales of pre-owned, slightly pre-owned and new goods by 36% in the first half of 2023 compared to the corresponding period last year, reaching 7 million euros. Meanwhile, reaching a 29% increase in new loan issuance.

 

Consumer loan issuance amounted to 34 million euros in the first six months of the year, which is 27% more than the corresponding period of the previous year. Pawn loan issuance has increased by 35%, reaching 11.7 million euros. The company has granted loans totalling 45.7 million euros during the period.

 

In the second quarter of 2023, the sales of pre-owned, slightly pre-owned and new goods reached 3.5 million euros, a 30% increase compared to the corresponding period of the previous year. Therefore, in the consumer lending segment, loans were issued in the amount of 15.7 million euros, which is 2% more than the corresponding period of the previous year, and pawn loan issuance reached 6 million euros, showing a 19% increase. In total, loans amounting to 21.7 million euros were issued during this period.

 

"This is a time of changing consumer habits, and I am glad that we are part of these changes. In the second quarter, we opened the largest Banknote XL store in the Imanta district of Riga, and started offering a new service – remote purchase of pre-owned goods, thereby facilitating the resale of this kind of goods. I am confident that a convenient, efficient, and fast online purchase solution will help more and more people make environmentally friendly choices, saving time and providing financial benefits," explains Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup.

 

D. Ādmīdiņš adds that strengthening the principles of circular economy in retail is one of the company's business development priorities, which is why in the second quarter of 2023, the company has purposefully expanded its range of services while looking for new ways to motivate people to use goods in the secondary market.

 

The Chairman of the company's Management Board emphasises that maintaining the performance of the consumer loan segment at the previous year's level is a conscious decision of the company. In the second quarter of 2023, DelfinGroup has purposefully limited the volume of loan issuance, ensuring balanced growth and compliance with financial covenants. Specifically, the rapid growth pace of DelfinGroup has led to increased demand for loans, so the company is currently taking strategic steps to attract funding for its future development.

 

	Q2 2023	Q2 2022	Change %	6M 2023	6M 2022	Change %
Consumer loan issuance (‘000 EUR)	15 722	15 360	+2%	34 012	26 873	+27%
Pawn loan issuance (‘000 EUR)	6 030	5 047	+19%	11 715	8 690	+35%
Total loan issuance (‘000 EUR)	21 752	20 407	+7%	45 727	35 563	+29%
Sale of pre-owned goods (‘000 EUR) excl. VAT*	3 577	2 757	+30%	7 013	5 153	+36%

*Starting from Q4 2022, the sales results of pre-owned goods do not include value-added tax.

 

About AS DelfinGroup

 

DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy. The company has been awarded the gold category in Sustainability Index 2023 of the Institute for Corporate Sustainability and Responsibility.

 

For further information, please contact:
Linda Eltermane,
DelfinGroup Head of PR
Phone: +371 28700457
E-mail: [email protected]