In the third quarter, the revenue of DelfinGroup increased by 25%
Continuing its successful growth strategy and steady development, Latvian fintech company DelfinGroup has increased its results in all business segments in the third quarter of this year. The revenue of the company in the third quarter of 2024 increased by 25% compared to the same period last year, reaching 16.5 million euros. Meanwhile, profit before tax increased by 11% to 2.4 million euros.
DelfinGroup maintained 25% revenue growth rate for the full nine-month period, with revenue reaching 45.6 million euros. Meanwhile, profit before tax increased by 14% to 6.8 million euros for the nine months. EBITDA for the third quarter of 2024 amounted to 5.7 million euros, up 19%, and for the nine months, it’s up 24% to 16.2 million euros.
"The company’s 25% revenue growth in both the third quarter and the nine-month period demonstrates its sustainable development and competitiveness in the market. This significant growth is mainly driven by competitive products available both online and in-person, as well as a solid growth in the loan portfolio, which reached 107,7 million euros. In addition, we are seeing a steady growth in profit before tax, up 11% compared to the third quarter of last year. As the company's profitability improves, we are able to ensure shareholders with regular and stable dividends," explains Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup.
These results are also fuelling investor interest, making DelfinGroup even more attractive to Baltic investors. In the third quarter, the company attracted more than 2700 participants in a public bond issue, which confirms investors’ confidence in the company and encourages further development, allowing investment in innovation and new product development.
According to Didzis Ādmīdiņš, the financial results are underpinned by growth in all business segments. "In the third quarter, we issued loans worth 26.5 million, a 13% increase compared to the same period last year. Sales of pre-owned, slightly pre-owned and new goods increased by 15% to 4.5 million euros. We are pleased that more and more people are choosing to follow the principles of the circular economy by purchasing pre-owned and verified goods with a guarantee in Banknote branch network and online shop,” says D. Ādmīdiņš.
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About DelfinGroup
AS 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 and Lithuania. 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.
For further information, please contact:
Artūrs Dreimanis
DelfinGroup Head of Treasury and Investor Relations
Phone: +371 26189988
E-mail: IR@delfingroup.lv
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