May 11, 2022
DelfinGroup income grows by 24% in the first quarter
AS DelfinGroup reports an income of 7,48 million euros in the first quarter, which is a 24% increase. Profit before tax increased by 42%, hitting 1,6 million euros, while net profit grew by 76% reaching 1,4 million euros. The company’s net loan portfolio increased by 46% year-on-year and achieved 47million euros. EBITDA in the first quarter was 2,58 million euros respectively, showing an 8% growth.
Didzis Ādmīdiņš, AS DelfinGroup Chairman of the Board: “We keep developing business directions set forth in our strategy, like consumer loan, where we continue to focus on the upgrade of existing products and improvement of user experience. So, no surprise that the most rapid growth at the beginning of the year was achieved particularly in pawnshop lending and other consumer loan segments. In the first three months, we issued 15,1 million euros in first loans, which is a 60% increase against year-on-year, and among other things, Banknote pawn loans increased by 30% during the first quarter against the same period of 2021.”
“We can see our clients have greatly appreciated the latest improvements of our services such as raising of VIZIA consumer loan limit up to 10 thousand euros. Consequently, people can get access to more funds to renovate their house, for example, or start their own businesses. Enhancement of digital services during the first quarter was an important success factor, which expanded extremely rapidly during the period of Covid – 19 restrictions. On top of that, our mobile app is becoming more popular along with our online shop, which managed to become the most popular retail channel for Banknote since last year,” says D. Ādmīdiņš.
In accordance with the development plan, this year AS DelfinGroup expects to hit a profit before tax of 8,7 million euros and 12 million euro EBITDA. The loan portfolio is expected to grow up to 51 million euros.
In 2021, AS DelfinGroup achieved record turnover and profit - revenue increased by 7.7%, reaching 25.5 million euros, while profit before tax reached 5.2 million euros, which was an increase of 7.2%. More information on the financial results of AS DelfinGroup is available on the company's website: www.delfingroup.lv or on the website of the stock exchange Nasdaq Riga: https://nasdaqbaltic.com/lv/.
About AS DelfinGroup
AS DelfinGroup is a licensed 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 the sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35 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 6000 new shareholders. The company regularly pays dividends to its shareholders. In 2021, the company's net loan portfolio grew to EUR 43 million, while its EBITDA reached EUR 10.2 million, with profits before income tax for dividends of EUR 5.2 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.