DelfinGroup reports that the company increased its revenue by 46% in the first quarter of 2023, reaching €11.1 million compared to the same period last year. Furthermore, the company’s profit before taxes increased by 16% to reach 1.8 million euros. The company further shares that its loan portfolio increased by 9% since the beginning of the year, amounting to a total of €73.5 million. The company’s EBITDA increased to €3.9 million, which is 53% more than in the first quarter of 2022. The company has provided the following operational and financial information:
Chairman of the Management Board of the Company Didzis Ādmīdiņš is positive about the results. He emphasized that this year has started successfully, with growth indicators increasing in all business segments.
He adds that the company is also rapidly developing its circular economy online store, which offers more than 50,000 pre-owned, slightly pre-owned, and new goods in one place.
In total, for the first 3 months of this year, DelfinGroup issued consumer loans of 18.3 million euros, an increase of 59% compared to the first three months of last year. The company issued loans in the amount of 24 million euros overall.
According to the latest publicly available data, in the first 3 months of 2023, the issuance of pawn loans increased by 58%, reaching 5.7 million euros. Meanwhile, the sales of pre-owned, slightly pre-owned, and new goods in the first quarter of this year reached 3.3 million euros, a 43% increase compared to the same period last year.
DelfinGroup is a licensed fintech 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 (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 2022, the company’s net loan portfolio grew to €67.4 million, while its EBITDA reached €13.1 million, with profit before taxes of €7.3 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.