After the successful conclusion of DelfinGroup initial public offering, or IPO, which attracted almost 6 thousand shareholders, the public sale of the company's shares was launched on October 20, 2021. During this year, the company has become the largest Latvian company by market capitalisation represented on the Baltic Main List of Nasdaq Baltic. Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup, reviews the company's first year on the stock exchange and evaluates the benefits from the perspective of a listed company.

"DelfinGroup has always strived for excellent corporate governance and transparency of the company's operations, so an initial public offering at the end of 2021 was the next logical step in our growth. Without a doubt, the IPO required extensive preparation and mobilisation of internal resources from the company's team, so there was a sense of a job well done by the time the initial public offering closed. But it was just the beginning of a new stage in the development of the company," says Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup.

As a result of the IPO, the company attracted additional financing, which allowed DelfinGroup to successfully refinance existing obligations to reduce interest rate expenses, as well as continue to develop business segments and achieve set financial goals faster. As a result, stable growth is also noticeable in the financial results for the nine months of 2022. DelfinGroup has significantly grown its revenue, which reached 25.7 million euros, showing an increase of 39% compared to the corresponding period of the previous year, while profit before taxes has increased by 55%, reaching 5.4 million euros. At the same time, the company's loan portfolio increased by 39% since the beginning of the year and has reached 59.7 million euros.

Entering the regulated market of Nasdaq Riga, DelfinGroup created, and the shareholders approved, a unique dividend policy for the Baltic stock market – the company promised to pay shareholders quarterly dividends of up to 50% of the quarterly profit. DelfinGroup continues to stick to its dividend promise, having paid out more than 5 million euros in dividends to shareholders since becoming a public company, and another dividend payment of 833,880.53 euros is planned this year.

D. Ādmīdiņš explains: "With the listing on the stock exchange, we have also gained a brand new, valuable audience – almost 6 thousand shareholders who believed in the story of DelfinGroup. I thank the shareholders for their trust! Hopefully, the company's strong results have lived up to their expectations. At a time when the Baltic Benchmark index has fallen by 11.2% since the beginning of the year, our shareholders have gained a stable share in their portfolios, whose price has increased by 6.4% since the beginning of the year. In addition, I would also like to mention a stable yield from dividends, which is why DelfinGroup is often called the dividend payout champion by the industry media."

"In this first year since our IPO, we have learned to be completely transparent and open with our investors, regulators and the wider public. Recently, DelfinGroup has significantly strengthened the company's team, and the IPO helped us here as well, because people appreciate strong companies with strong values. We gained an even greater stimulus for the development and value increase of the company, and we are in a good position for further growth," the Chairman of the Management Board of DelfinGroup sums up.

About AS DelfinGroup

DelfinGroup is a licenced technology-based financial services company 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), and the sale of pre-owned goods online and at more than 90 branches across Latvia. On average, 35 thousand loans are issued monthly and serviced by a professional team of more than 300 DelfinGroup employees. The company has a total of over 400,000 registered customers. 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's IPO in 2021 attracted almost 6000 new shareholders. The company regularly pays dividends to its shareholders. In the first nine months of 2022, the company's net loan portfolio grew to EUR 59.7 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends of EUR 5.4 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.

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