UAB Legal Balance (hereinafter - Company), company code 302528679, address
Žalgirio g. 90, LT-09303, Vilnius, Lithuania, submits consolidated annual
financial statements for 2022 of the Company and its subsidiaries: SIA Legal
Balance, company code 40203125480, address Marijas iela 2A, Riga, Latvia, and
UAB Legal balance invest, company code 306113214, address Žalgirio g. 90-100,
Vilnius, Lithuania (hereinafter - Group). Financial statements are submitted
together with the independent auditor's report and the annual report for 2023.
In 2023, the Group earned EUR 7.5 million in revenue, which is 13.6% more than
in 2022, when the Group earned EUR 6.6 million in revenue. This was mainly due
to increased investments in the purchase of debt portfolios - EUR 12.6 million
were invested during the reporting period, and EUR 9.8 million were recovered
from debt portfolios managed by the Group.
In 2023 operating expenses (cost, selling and general expenses) compared to the
operating expenses of the previous financial year increased by 26.6%. The
increase in costs is directly related to the growth of activity volumes - as
the managed debt portfolio increases, so does the number of employees, legal
expenses, and general costs.
In 2023, the Group's net profit amounted to EUR 2.0 million and was EUR 0.2
million lower than in the same period of 2022 (31.12.2022: EUR 2.2 million).
2023 2022 change, %
Revenue, EUR 7 503 032 6 624 264 13,27%
Cost of Sales, EUR (1 064 236) (997 476) 6,69%
Gross profit, EUR 6 438 796 5 626 788 14,43%
General and administrative expenses, EUR (2 972 020) (2 178 808) 36,41%
EBITDA, EUR 3 466 776 3 447 980 0,55%
Interest expenses, EUR (1 255 513) (829 342) 51,39%
Pre-tax profit, EUR 2 211 263 2 618 638 -15,56%
Net profit, EUR 1 992 617 2 230 766 -10,68%
CEO Marius Šlepetis
marius@legalbalance.lt
Attachment:
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