DelfinGroup reports operational highlights for Q3 2021

The below announcement text was provided to AS Mintos Marketplace by AS DelfinGroup (registered in Latvia under registration No. 40103252854). AS Mintos Marketplace has not checked or otherwise verified the information provided by AS DelfinGroup. AS DelfinGroup is a cooperation partner of Mintos and offers investment opportunities on mintos.com. AS Mintos Marketplace is not acting as an offeror or a distributor on behalf of AS DelfinGroup.

AS DelfinGroup has provided a highlight of selected operational data for 2021 Q3. According to AS DelfinGroup, in Q3, it issued new loans in the amount of €15.3 million which is a 29% increase compared to the previous quarter and is the all-time highest amount of loans issued in a single quarter. It also states that the net loan portfolio at the end of Q3 2021 also reached a record level in the company’s history – €35.8 million, a 32% y-o-y increase. The group states that this information is consistent with the business description and operational targets indicated in the IPO prospectus of AS DelfinGroup.

Indicator

Q1 2021

Loan issuance (in m EUR)

10.0

Net loan portfolio (in m EUR)

29.7

NPL ratio

5.60%

Indicator

Q2 2021

Loan issuance (in m EUR)

11.8

Net loan portfolio (in m EUR)

32.4

NPL ratio

4.90%

Indicator

Q3 2021

Loan issuance (in m EUR)

15.3

Net loan portfolio (in m EUR)

35.8

NPL ratio

3.60% 

Indicator

Q3 2020

Loan issuance (in m EUR)

14.6

Net loan portfolio (in m EUR)

27.2

NPL ratio

Indicator

YoY change

Loan issuance (in m EUR)

5%

Net loan portfolio (in m EUR)

32%

NPL ratio

Indicator

Q1 2021

Q2 2021

Q3 2021

Q3 2020

YoY change

Loan issuance (in m EUR)

10.0

11.8

15.3

14.6

5% 

Net loan portfolio (in m EUR)

29.7

32.4

35.8

27.2

32%

NPL ratio

5.60%

4.90%

3.60%

All of the data in the table above has been provided to Mintos by AS DelfinGroup

“The company continues robust growth and achieves all the milestones of its long-term plan to reach a €51 million loan portfolio by the end of 2022 and a €70 million loan portfolio by the end of 2024. We have successfully diversified our risks and, despite restrictions and uncertainties related to COVID-19, continue to provide healthy growth. Over the last six months, the company’s net loan portfolio has been growing at a rate of approximately €1 million per month. At the end of the first quarter of 2021, the loan portfolio was €29.7 million, and at the end of Q3 2021, it reached almost €36 million and keeps growing. At this rate, we are confident to reach the targeted profit before tax of €8.7 million for 2022.”

AS DelfinGroup chairman of the Board, Didzis Ādmīdiņš

According to AS DelfinGroup, the quality of the consumer loan portfolio has also improved during this year. It states that the proportion of loans, with payment delays over 90 days, has decreased to 3.6% of the total loan portfolio, which is another all-time best result for the company.

“We keep automating and digitalizing our existing services and introduce new ones. We have launched the new Banknote app to allow our customers to conveniently browse overall payments and available services. We see the most rapid increase in customer activity in online channels. I’d like to also emphasize the role of our pre-owned goods online store as a contributor to the circular economy. The decision to go public and have our shares listed on Nasdaq Riga Baltic Main List has been helpful – the publicity of AS DelfinGroup and the public interest in our company has increased.”

AS DelfinGroup chairman of the Board, Didzis Ādmīdiņš

The offer period for AS DelfinGroup shares launched on 28 September 2021 and will close on 11 October 2021 (inclusive). For more information on this, refer to the recent blog post.

About DelfinGroup

DelfinGroup, formerly known as SIA ExpressCredit, 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 €303 million of pawn loans and consumer loans and the client base has reached almost 400 000 customers. In 2020, the company’s revenue was €23.7 million, the loan portfolio reached €34.7 million, EBITDA increased to €9.3 million, and profit before taxes reached €4.6 million. Starting from 6 May 2021, there have been changes in the ownership structure and some equity investors overlap with Mintos.

Disclaimer by AS Mintos Marketplace

The information or any references to the prospectus in this publication is marketing communication only and is not an advertisement of initial public offering of Delfin Group shares, under no circumstances this should be viewed as an offer to purchase or acquire Delfin Group shares.

Persons who offer, sell or recommend shares (the distributors) are independently responsible for the evaluation of the target market and appropriate distribution channels and must guarantee that these conform with the provisions of this prospectus.

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