AS DelfinGroup reports an income of €7.48 million in the first quarter, a 24% increase compared to the same period in 2021. The company has provided the following operational and financial information:
Profit before tax increased by 42%, reaching €1.6 million, while net profit grew by 76%, reaching €1.4 million. The company’s net loan portfolio increased by 46% year-on-year and reached €47 million. EBITDA in the first quarter was €2.58 million, an 8% growth.
“We keep developing business directions set forth in our strategy, like consumer loans, 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 in first loans, which is a 60% increase 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 the VIZIA consumer loan limit up to €10 thousand. 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.”
In accordance with the development plan, this year AS DelfinGroup expects to hit a profit before tax of €8.7 million and €12 million EBITDA. The loan portfolio is expected to grow to €51 million. In 2021, AS DelfinGroup achieved record turnover and profit. Revenue increased by 7.7%, reaching €25.5 million, while profit before tax reached €5.2 million, an increase of 7.2% compared to 2020. 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 DelfinGroup
DelfinGroup was founded in 2009 and is the owner company of the loan originators Banknote and VIZIA. DelfinGroup is the second-largest non-bank consumer lender in Latvia. Since its inception, the company has issued more than €371 million of pawn loans and consumer loans, and the client base has reached 400 000 customers. Banknote offers personal loans and pawn loans (loans secured with personal property) in its 93 branches across Latvia. VIZIA specializes in consumer loans, focusing on medium-to-higher income customers and their financial needs in various life situations. Shares of DelfinGroup are listed on the Nasdaq Baltic Main list.
Starting from 6 May 2021, there have been changes in the ownership structure, and some equity investors overlap with Mintos.
