DelfinGroup results for Q2 2023
In the 2nd quarter of 2023, the Latvian fintech company DelfinGroup continued to show growth in the sales of pre-owned goods and loan issuance.
The sales of pre-owned, slightly pre-owned and new goods in the second quarter of this year reached 3.6 million euros, a 30% increase compared to last year, while sales increased by 36% in the six months.
Also, the pawn lending segment showed significant growth in the 2nd quarter, in which loans of 6 million euros were issued, or 19% more than a year earlier. In the six-month period, the issuance of pawn loans increased by 35%, reaching 11.7 million euros.
Meanwhile, in the consumer lending segment, loans were issued for 15.7 million euros, or 2% more than last year's corresponding period. In contrast, the company issued 34 million euros during the half year, 27% more than in the first half of 2022.
In the consumer lending segment, maintaining performance at the previous year's level is a conscious decision of the company. In the 2nd quarter of 2023, DelfinGroup has purposefully limited the volume of loan issuance, ensuring balanced growth and the fulfilment of financial covenants. In particular, DelfinGroup fast growth rate has increased the demand for loans, so the company is currently taking strategic steps to attract financing for the company's further development.
|
|
Q2
2023 |
Q2
2022 |
Change
% |
6M
2023 |
6M
2022 |
Change
% |
|
Consumer loan issuance (‘000 EUR) |
15 722 |
15 360 |
+2% |
34 012 |
26 873 |
+27% |
|
Pawn loan issuance (‘000 EUR) |
6 030 |
5 047 |
+19% |
11 715 |
8 690 |
+35% |
|
Total loan issuance (‘000 EUR) |
21 752 |
20 407 |
+7% |
45 727 |
35 563 |
+29% |
|
Sale of pre-owned goods (‘000 EUR) excl. VAT* |
3 577 |
2 757 |
+30% |
7 013 |
5 153 |
+36% |
*Starting from Q4 2022, the sales results of pre-owned goods do not include value-added tax.
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About AS DelfinGroup
DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup 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. 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 regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy. The company has been awarded the gold category in Sustainability Index 2023 of the Institute for Corporate Sustainability and Responsibility.
For further information, please contact:
Aldis Umblejs,
DelfinGroup Chief Financial Officer
Phone: +371 26189988
E-mail: IR@delfingroup.lv
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