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DelfinGroup business results for Q4 2022
Emitents DelfinGroup, AS (iepriekšējais nosaukums - ExpressCredit, SIA) (2138002PKHUJIMVMYB13)
Veids 2.2. Iekšējā informācija
Valoda EN
Statuss Publicēts
Datums 2023-01-05 08:59:41
Versijas komentārs

In the 4th quarter of 2022, as throughout all of 2022, DelfinGroup continued to show strong results in new loan issuance and the sale of pre-owned goods.

In the consumer lending segment, in the 4th quarter of 2022, loans were issued for 17 million euros or 50% more than last year's corresponding period. Still, during the whole year of 2022, there was an increase in the issuance of consumer loans of 64%, which reached 60.8 million euros.

The pawn lending segment experienced similar growth in the 4th quarter of last year, where the issuance of loans increased by 67%, reaching 5.5 million euros. Meanwhile, new pawn loan issuance in the twelve months amounted to 19.6 million euros, which is a 54% increase.

The sales volume of pre-owned, slightly pre-owned and new goods  in the 4th quarter reached 3.3 million euros without VAT, which is a 33% increase compared to last year — but increased by 29% in the twelve months, reaching 11.9 million euros.

Consumer loan issuance (‘000 EUR) 17 046 11 363 +50% 60 755 37 009 +64%
Pawn loan issuance      (‘000 EUR) 5 536 3 306 +67% 19 535 12 662 +54%
Total loan issuance        (‘000 EUR) 22 582 14 669 +54% 80 289 49 672 +62%
Sale of pre-owned goods (‘000 EUR) excl. VAT* 3 299 2 472 +33% 11 874 9 197 +29%

*To more accurately reflect the impact of the sales of pre-owned goods on the company's results, the sales amount is presented without value-added tax. Previously, this item was shown with value-added tax.

Taking into account the strengthened market positions of DelfinGroup in the central business segments and the continued demand for accessible, simple and customer-oriented financial services, convincing results of lending and retail sales were also achieved in the fourth quarter. However, at the same time, DelfinGroup faces external factors that affect the company's overall financial performance. Above all, the general rise in rates currently observed in the capital market is increasing DelfinGroup cost of financing. As a result, as the company's loan portfolio develops, the cost of financial resources to ensure portfolio growth also increases. However, DelfinGroup diversifies its funding sources through bond financing, the Mintos P2P platform, and equity to ensure the lowest possible funding costs.


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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 quarterly 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 profit before income tax 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:
         Aldis Umblejs
         AS DelfinGroup Chief Financial Officer
         Phone: +371 26189988
         E-mail: IR@delfingroup.lv