DelfinGroup financial results for 2024 reflect stable and sustainable growth, showcasing the company's ability to adapt to market trends and maintain strong performance. Revenue increased to 63 million EUR (+25%), EBITDA reached 22.1 million EUR (+22%), and profit before tax grew to 9.4 million EUR (+13%). Net profit rose to 7.4 million EUR, up 12% compared to 2023.
In the fourth quarter of 2024, DelfinGroup revenue grew by 25% to 17.4 million EUR compared to the same period last year. EBITDA increased to 6 million EUR, up 16% from the fourth quarter of 2023. Profits before tax rose by 12% to 2.6 million EUR, while net profit reached 2 million EUR.
"DelfinGroup financial results for 2024 are in line with previously set forecasts, with the company achieving its planned profit before tax. These results confirm our ability to ensure stable growth. Changes in profitability are attributed to investments made last year to enter the Lithuanian market, where seven branches were opened during the year, providing the same services as in Latvia. Excluding these investments, the company has managed to maintain the profitability level of the previous year. We remain focused on business development to strengthen the company's value and establish a solid foundation for long-term growth," comments Andrejs Aleksandrovics, CFO and Member of the Board of DelfinGroup.
In the final quarter of 2024, sales of pre-owned, slightly pre-owned and new goods increased by 15%.
"We see that customers are increasingly embracing smart and sustainable shopping choices, which is also driving growth in our retail segment. Demand for pre-owned and slightly pre-owned goods continues to rise, not only due to price and quality but also because more people are adopting cost-conscious and environmentally friendly shopping habits. We plan to further expand this segment to offer an even broader selection of high-quality products," says Ieva Purina, Head of Retail and E-Commerce at DelfinGroup.
About DelfinGroup
DelfinGroup is a licensed Latvian fintech company founded in 2009 and operating under the Banknote and VIZIA brands. The Company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer loans, loans for seniors, buy now, pay later loans, pawn loans and sales of pre-owned, little used and new goods in almost 90 branches in Latvian and Lithuania, as well as online. 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 pays regular quarterly dividends. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
Arturs Dreimanis,
Head of Treasury and Investor Relations of AS DelfinGroup
Phone: +371 26189988
E-mail: arturs.dreimanis@delfingroup.lv
