January 6, 2022
AS DelfinGroup results for Q4 2021
During 2021 AS DelfinGroup continued rapid growth in the consumer lending segment by issuing 24% more new loans compared to 2020. Significant increase in this segment continued also in the 4th quarter when company issued 23% more new loans compared to the same period in 2020.
During the previous quarter a stable growth is noticable also in retail sale of pre-owned goods that increased by 12% in Q4 and by 4% year on year.
In spite of imposed Covid-19 restrictions during 2021 in Latvia, positive growth in consumer lending issuance and in retail sale of pre-owned goods was ensured by AS DelfinGroup digital sales channels whose share of total sales have increased significantly over the last year.
|Q4 2021||Q4 2020||Change %||12M 2021||12M 2020||Change %|
Consumer loan issuance (‘000 EUR)
|11 363||9 251||+23%||37 009||29 864||+24%|
Pawn loan issuance (‘000 EUR)
|4 024||4 246||-5%||15 526||18 231||-15%|
Total loan issuance (000’ EUR)
|15 387||13 497||+14%||52 535||48 095||+9%|
Retail sales (‘000 EUR)
|2 597||2 309||+12%||9 647||9 245||+4%|
Although, branch services were limited throughout 2021, the company’s processes were not significantly affected as the company has adapted to the imposed restrictions. As a result, pawn loan issuance in the fourth quarter was only 5% lower than in the corresponding period in 2020.
A positive trend in the volumes of new loan issuance ensures stable growth of the company’s loan portfolio, which allows the company to get closer to the 2024 long-term financial targets.
About AS DelfinGroup
AS DelfinGroup is a licenced technology-based financial services company that was 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), as well as sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35,000 thousand loans are issued every month and serviced by the professional team of more than 270 AS DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, AS DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and since 2021 as a share issuer 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 2020, the company's net loan portfolio grew to EUR 34.6 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends EUR 4.65 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.