UAB Legal Balance, legal entity code 302528679, address Žalgirio g. 90, Vilnius, Lithuania, (hereinafter – the Company) submits consolidated annual financial statements for 2024 of the Company and its subsidiaries: SIA Legal Balance, legal entity code 40203125480, address Marijas iela 2A, Riga, Latvia, UAB Legal balance invest, legal entity code 306113214, address Žalgirio g. 90-100, Vilnius, Lithuania, and UAB Legal balance invest 2, legal entity code 306967225, address Žalgirio g. 90-100, Vilnius, Lithuania (hereinafter - Group). Financial statements are submitted together with the independent auditor's report and management report for 2024.
In 2024 the Group earned EUR 9.1 million in revenue, which is 22% more than in 2023, when the Group earned EUR 7.5 million in revenue. This was mainly due to increased investments in the purchase of debt portfolios - EUR 15.5 million were invested during the reporting period, and EUR 13.1 million were recovered from debt portfolios managed by the Group.
In 2024 operating expenses (cost, selling and general expenses) compared to the operating expenses of the previous financial year increased by 28.2%. The increase in costs is directly related to the growth of activity volumes - as the managed debt portfolio increases, so does the number of employees, legal expenses, and general costs.
In 2024 the Group's net profit amounted to EUR 1.7 million and was EUR 0.3 million lower than in the same period of 2023 (31.12.2023: EUR 2.0 million).
| 2024 | 2023 | change, % | |
| Revenue, EUR | 9 156 429 | 7 503 032 | 22,04% |
| Cost of Sales, EUR | (1 323 535) | (1 064 236) | 24,36% |
| Gross profit, EUR | 7 832 894 | 6 438 796 | 21,65% |
| General and administrative expenses, EUR | (3 875 600) | (2 972 020) | 30,40% |
| EBITDA, EUR | 3 957 294 | 3 466 776 | 14,15% |
| Interest expenses, EUR | (2 028 399) | (1 255 513) | 61,56% |
| Pre-tax profit, EUR | 1 928 895 | 2 211 263 | -12,77% |
| Net profit, EUR | 1 689 279 | 1 992 617 | -15,22% |
CEO Marius Šlepetis
marius@legalbalance.lt