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Kristaps Bergmanis
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DelfinGroup (previously ExpressCredit) unaudited financial results for the year 2019

DelfinGroup preliminary consolidated results for 12 months of 2019 have surpassed the published financial estimate. The Group’s turnover reached EUR 21.8 million (6% higher than estimate), loan portfolio amounted to EUR 31.6 million (12% increase compared to the estimate), and EBITDA rose to EUR 8.1 million (11% on top of the estimate).

The Group's turnover in 12 months, compared to the same period of the previous year, has increased by 16%, while the company's loan portfolio has increased by 56% over the period. Consolidated EBITDA growth was 13% per annum. 

In 2019, the Group’s operations were affected by the changes in the Law on Consumer Rights that came into force on July 1, 2019. The unaudited results show that the company has been able to keep growing in size and in profitability under the new regulation. One reason for such track record is that 40% of DelfinGroup’s revenues are generated by pawn shop operations (pawn loans, sale of goods etc.) which are not subject to the new regulation. Another reason is the company’s overall efficiency achieved by the introduction of new value adding services and products and by closely monitoring the cost base. The company has further increased the maximum loan amount to EUR 5000. The Group continued to develop its youngest brand VIZIA reaching 75% annual growth in the net loan portfolio.

The company celebrated 10-year anniversary in October 2019 and marked the first completed business decade by defining a brand-new corporate identity, including the change of name from ExpressCredit to DelfinGroup in February 2020. DelfinGroup upgraded mission is to create and provide innovative and custom finance solutions to its clients.

In Q4 2019, DelfinGroup prepared for the new EUR 5 million bond issue. The preparation included setting up a new creditor structure whereby the bond holders of two existing notes issues (ISIN LV0000802213 and ISIN LV0000801322) and one new bond issue (ISIN LV0000802379), as well as Mintos platform became secured creditors of DelfinGroup. The aforementioned creditor claims are secured by a commercial pledge worth EUR 40.5 million. The subscription for the new bond issue was started on November 15, 2019 and by now ISIN LV0000802379 is subscribed by 54% or EUR 2.7 million.

By implementing business strategy and all planned activities the following financial results of the Group were achieved in year 2019 compared to year 2018:


EUR, million

Change, %

Net loan portfolio






Net profit


- 2.4

SIA DelfinGroup delivers unaudited condensed interim consolidated statements for 12 months of the year 2019.

SIA DelfinGroup submits investor presentation for the operational results of Q4 2019. Presentation in English.

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