At the annual general meeting of shareholders of Latvian fintech company DelfinGroup, shareholders decided to approve the company's report for 2022, prepared by the Management Board and reviewed by the Supervisory Board. The report describes 2022 as a year of growth for the company, which met previously set targets and sets ambitious plans for 2023.

“In 2022, DelfinGroup has consistently shown high growth in new loan issuance and retail of pre-owned goods. Looking back at the past year, we have a feeling of a job well done regarding the achieved business results. In 2022, we issued loans amounting to 80.3 million euros, an increase of 62% compared to 2021. Last year, we placed a strong emphasis on developing the circular economy concept and the retail of pre-owned goods, which resulted in a 27% increase in the volume of goods sold compared to 2021, reaching EUR 11.4 million turnover,” says Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup.

Furthermore, the management assesses the achieved financial results positively. D. Ādmīdiņš, Chairman of the Management Board of DelfinGroup: “Results were driven by the demand for simple and customer-oriented financial services, and DelfinGroup strengthened market positions in the main business segments. For example, in 2022, we have increased the market share in consumer lending from 12% to 14.5%. Also, we have been able to adapt to the challenges of the global economy.” DelfinGroup profit before taxes in 2022 increased by 45% to EUR 7.3 million, while revenues reached EUR 35.8 million. Whereas, since the end of 2021, the company's loan portfolio has increased by 54% to EUR 67.5 million.

At the annual general meeting of shareholders, it was decided that the 2022 profits not paid out in extraordinary dividends would be retained as undistributed for the time being. However, according to the amendments to DelfinGroup dividend policy approved by shareholders on 29 March 2023, it is also possible to pay the annual dividend at a later date, to be decided by shareholders at one of the extraordinary meetings of shareholders regularly held by the company.

“We have already paid almost 50% of our net profit or EUR 2,98 million in quarterly dividends to our shareholders in 2022. We have also proposed that the meeting of shareholders on 12 June approve our proposal to use the first quarter profit for 2023 by paying a dividend of over EUR 800 thousand or EUR 0.0177 per share on 30 June. If we compare this with the dividend, we have paid to DelfinGroup shareholders for the first quarter of 2022, we can see that alongside the company's rapid growth and profit growth, the dividend amount has also increased by 14%,” added D. Ādmīdiņš.

In addition to the above, shareholders approved a new bond issue of up to EUR 60 million by DelfinGroup with a maturity of up to five years. The bond issue aims to maintain a diversified financing structure, refinance existing liabilities and implement the company's growth strategy.

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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 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 quarter of 2023, the company's net loan portfolio grew to EUR 73.5 million, while its EBITDA reached EUR 3.9 million, with profit before taxes of EUR 1.8 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:
         Aldis Umblejs,
         DelfinGroup Chief Financial Officer
         Phone: +371 26189988
         E-mail: IR@delfingroup.lv