June 7, 2021
DelfinGroup pays 1.5 million euros in dividends
On June 4 of this year, the shareholders' meeting of the Latvian financial service company AS DelfinGroup decided on the approval of the financial results for 2020 and the payment of dividends in the amount of 1.5 million euros.
The dividend policy approved by the DelfinGroup strategy provides the regular payment of dividends four times a year, paying up to 50% of the quarterly net profit and additional annual dividend payments. The shareholders' decision provides the payment of additional dividends in the amount of 1.1 million euros for the results of 2020 and 0.4 million euros for the results of the first quarter of 2021, providing the payment of dividends by June 30, 2021. The pre-tax profit of DelfinGroup in 2020 amounted to 4.6 million euros, while the consolidated net profit was 3.8 million euros.
Chairman of the AS DelfinGroup Management Board Didzis Ādmīdiņš: “DelfinGroup financial performance continue to show stable growth. Pawnshops and online sale of pre-owned goods, as well as consumer loans show stable performance. We expect further easing of restrictions and opening-up of the economy, which will promote the overall development of the economy and business activity. As a result, the need for modern financial services in both the consumer lending and sale of pre-owned goods segments will increase. In the second half of 2021, DelfinGroup will launch an initial public offering (IPO) on the Nasdaq Riga stock exchange. We anticipate that the regular payment of dividends will be an important factor that could attract potential investors in the planned IPO.”
The revenue of DelfinGroup in the first three months of 2021 reached 6 million euros, the net profit was 0.8 million euros, but the loan portfolio - 32 million euros. EBITDA increased by 21% reaching 2.5 million euros, and the profit before taxes reached 1.1 million euros, which is an increase of 6% compared to the first quarter of 2020.
On March this year, AS DelfinGroup announced its intention to launch an initial public offering (IPO) of its shares on the Nasdaq Riga stock exchange in the second half of 2021.To find out more about this event, those who are interested are welcome to sign up for news on the company's website: https://www.delfingroup.lv/invest
AS DelfinGroup is a licensed financial service company founded in 2009 and represents the brands Banknote, VIZIA, and Rīgas pilsētas lombards (Riga City Pawnshop). The company employs 277 professionals in 92 branches operating in 38 Latvian cities. DelfinGroup is a member of the Latvian Chamber of Commerce and Industry and the Latvian Association of Alternative Financial Services, and has received the Gold Level status of the State Revenue Service cooperation programme. DelfinGroup core services are the sale of pre-owned goods in branches and on the internet, a pawn loan, a consumer loan, as well as a loan specifically designed for people at retirement age. DelfinGroup bonds are listed on the Nasdaq Riga First North bond list. In 2020, the company's revenue was 23.7 million euros, the loan portfolio reached 34.7 million euros, EBITDA increased to 9.3 million euros and profit before taxes reached 4.6 million euros. DelfinGroup estimated taxes for 2020 were 3.42 million euros
Member of the Management Board of AS DelfinGroup
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