Significant increases in income, profit, and loan portfolio continue for DelfinGroup in Q3
In the third quarter of 2022, DelfinGroup maintained stable growth indicators in all segments of its business. The company's income showed a 48% year-on-year increase in Q3, reaching 9.6 million euros. In addition, profit before taxes rose 49%, to EUR 1.8 million, while the loan portfolio grew 39% since the beginning of the year, reaching EUR 59.7 million.
DelfinGroup total income in the first nine months of this year was 25.7 million euros, an increase of 39% compared to the same period of 2021, while profit before taxes in the first nine months of this year reached 5.4 million euros, surging 55% compared to this period last year.
Chairman of the DelfinGroup Management Board Didzis Ādmīdiņš: "It was another successful quarter for the company as we met the set growth indicators. Furthermore, for DelfinGroup shareholders, the company's rapid expansion means stable returns. The stable growth of the company makes it possible for us to offer our clients more and more modern services. As an example, in late summer, we opened the updated Banknote online shop at veikals.banknote.lv, which is currently the biggest circular economy online shop selling verified pre-owned, slightly pre-owned, and new goods in Latvia. The online shop update has also brought the first positive results: in the third quarter, the sale of goods already reached 3.3 million euros, a 43% increase compared to the third quarter of last year."
"In the first nine months of this year, we issued 57.7 million euros in loans, representing a 65% year-on-year increase. Also, in the third quarter of this year, we issued 22.2 million euros worth of loans, which is 54% more than last year's third quarter.
These stable growth indicators demonstrate that the services offered by DelfinGroup – both in the personal loans and circular economy segments – enjoy demand across the entirety of the economic cycle, be it periods of high uncertainty and recession or those of expansion and growth. Therefore, we are confident that, even today, with a lot of uncertainty in the international financial markets, we can provide our shareholders with stable and regular returns through dividends," the company's chairman of the management board added.
Influenced by this year's results, the company has renewed its financial goals until 2024, raising the forecast for 2024 and setting new goals for 2023.
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About AS DelfinGroup
DelfinGroup is a licenced technology-based financial services 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 loans (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 the first nine months of 2022, the company's net loan portfolio grew to EUR 59.7 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends of EUR 5.4 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.
For further information, please contact:
AS DelfinGroup Chief Financial Officer
Phone: +371 26189988