Delfingroup As · OMXRSE:DGR1R
Delfingroup As — AS DelfinGroup — FY2024 Earnings Presentation
32 slides from Delfingroup As's earnings presentation, February 2025
Slide 1: Financial report: Unaudited results for 12 months 2024
Financial report Unaudited results for 12 months Ending 31 December 2024
Slide 2: Key results, Business highlights, Business performance, Appendix
Key Business Business Appendix results highlights performance
Slide 3: Business results: key characteristics of 2024
Business results +15% +9% +27% +15% Key characteristics of 12M consumer loan issuance growth y-o-y 12M pawn loan issuance growth y-o-y 12M net loan portfolio growth y-o-y 12M retail of pre-owned goods growth y-o-y 2024 Financial results +25% +22% +13% 12M revenue 12M EBITDA 12M profit before tax gro
Slide 4: Key results
Total loans Issued Net loan portfolio m € Q4 y-o-y Q4 y-o-y m € Q4 y-o-y Q4 y-o-y +0.5 +2.1% +4.0 +17% +21.5 +32% +24.5 +27% 22.6 24.0 21.8 23.5 23.1 25.0 26.1 26.5 27.0 67.5 73.5 78.1 84.6 89.0 95.6 101.5 107.7 113.5 Key results Loan issuance in Q4 2024 continued to increase, reaching the record-hi
Slide 5: Business highlights
Key Business Business Appendix results highlights performance
Slide 6: Consumer lending launched in Lithuania
Consumer lending launched in Lithuania In November 2024 company started consumer lending issuance in Lithuania. Loans are issued both online and offline at branch network. Now operations in Lithuania are carried out in all the business segments as in Latvia. 6
Slide 7: Capital markets & funding highlights
Bonds Bonds ISIN LV0000860146 and LV0000802700 listed on Nasdaq First North in November 2024 Capital markets & In total 4 DelfinGroup bond issues are listed on the Nasdaq Baltic stock exchange In September 2024 DelfinGroup organized a successful public bond issue with funding highlights oversubscrip
Slide 8: Branch network
Rīga branch network Valmiera branch Old VS New Efficiency of the branch network has been set as a focus in Latvia to secure sustainable business operations. Opening of new branches and expansion of Banknote XL network: Valmiera branch relocation, opening a new concept store Ogre, Skolas street branc
Slide 9: Improved online store
Improved online store Place your design Online store is now available in Banknote mobile app. here New, improved UX/UI design. AI integrations for cross-sales / up-sales development and product description creation. Renewed online store design according to latest standards Improved UX for seamless s
Slide 10: Management improvements
Management improvements CFO Andrejs Aleksandrovičs Has become a member of the Management Board. Andrejs is an experienced finance professional with more than 20 years of experience. He has extensive experience as a finance expert in global companies such as Worldline, Brink's, First Data, and Pricew
Slide 11: Business performance
Key Business Business Appendix results highlights performance
Slide 12: Consumer loans
Consumer net loan portfolio Average loan* m € Q4 y-o-y Q4 y-o-y m € Q4 y-o-y Q4 y-o-y +20.4 +33% +22.5 +28% +304 +20% +487 +27% Consumer loans 61.2 67.7 71.7 76.9 81.6 87.3 92.9 98.8 104.0 1 533 1 669 1 765 1 840 1 837 2 013 2 119 2 201 2 324 The consumer lending portfolio continued increasing, as d
Slide 13: Pawn loans
Pawn net loan portfolio* m€ Q4 y-o-y Q4 y-o-y Pawn loans +0.2 +5% +0.7 +18% 4.0 3.8 4.1 4.0 4.1 4.5 4.6 4.8 4.9 Pawn loan portfolio has increased 18% in 2024. Pawn loan issuance increased 9% in 12M period, and 12% in Q4 compared to corresponding periods last year. The average pawn loan amount has gr
Slide 14: Retail of pre-owned goods
Sales of pre-owned goods m€ Q4 y-o-y Q4 y-o-y +0.8 +25% +0.6 +15% Retail of 3.2 3.3 3.5 3.9 4.0 3.6 4.0 4.5 4.6 pre-owned goods* Stable and consistent growth has been achieved in the retail segment by promoting the circular economy principles in Latvia and Q4 2022 Q1 Q2 Q3 Q4 2023 Q1 Q2 Q3 Q4 2024 L
Slide 15: Sales split by product category
Sales split by product category Sales split by product category (Q4M 2024) 30% 27% 16% 11% 8% 7% Jewelry Smartphones Other Computer Equipment TV, Audio, Video, Photo Power Tools Clients have access to a wide range of pre-owned goods at Banknote online store and branch network. The most demanded prod
Slide 16: Diversification
Revenue by business segments 12M 2024 Diversification 12% Banknote consumer loans 15% Vizia consumer loans Although the most significant part of the 52% revenue stream comes from the consumer loan Pawn loans* segment, we see great potential in gradually Retail of pre-owned goods** growing other Delf
Slide 17: Consolidated income statement
Income statement, 2024 2023 Change 2024 2023 Change EUR’000 Q4 Q4 % 12M 12M % Consolidated Total revenue 17,356 13,912 +25% 62,957 50,423 +25% Cost of sales -2,373 -1,977 +20% -7,027 -6,086 +15% income statement Credit loss expenses -4,060 -2,608 +56%* -15,104 -10,687 +41%* Interest expenses and -2,
Slide 18: Consolidated balance sheet
Balance sheet, 31.12.2024 31.12.2023 Change % EUR’000 Fixed and intangible assets 3,228 2,680 +20% Right-of-use assets 2,653 2,887 -8% Net loan portfolio 113,477 89,026 +27% Inventory and scrap 3,991 3,391 +18% Other assets 1,454 1,149 +52% Cash 2,628 5,929 -56% Total assets 127,431 105,061 +21% Con
Slide 19: Financial ratios
Financial ratios EBITDA margin* Adjusted equity ratio** ROE*** 36.6% 40% 38.0% 39.8% 40% 40% 36.6% 36.2% 35.9% 36.1% 36.2% 36.2% 35.8% 35.2% 40% 34.9% 37.2% 35.0% 33.3% 33.8% 26.7% 30% 29.7% 30% 25.3% 26.3% 26.5% 30% 30% 23.5% 23.5% 24.9% 26.3% 22.2% 21.8% 20% 20% 20% 20% 10% 10% 10% 10% 0 0 0 0 Q4
Slide 20: Capital structure
Bond financing track record* m€ Capital structure 10.0 10.0 15.0 15.0 15.0 14% 21% 5.0 5.0 5.0 5.0 5.0 Equity 25.1 m € 3.5 3.5 4.0** Mintos 24.6 m € Bonds 54.0 m € 2013 2014 2016 2019 2020 2021 2021 2022 2023 2023 2023 2024 2024 20% Secured Unsecured Unsecured Secured Unsecured Unsecured Unsecured U
Slide 21: Dividends
Dividend yield 7.8%* Dividends *Based on share price of EUR 1.15 on 24 February 2025 and including management’s proposed dividends from Q4 2024 net profit. Unique dividend distribution proposal in Baltics Dividend Dividend EUR/ EUR Payout period payment date Share Total ratio*** Quarterly dividends
Slide 22: Share performance
Share price and turnover, € 1.6 180 000 Share performance 1.5 150 000 1.4 1.3 120 000 1.2 Share price changes since Q2 2024 due to the 1.1 90 000 largest shareholder’s public share offerings in 1 60 000 which the shares were offered at a discount for 0.9 a price of EUR 1.09 per share. Since then the
Slide 23: Follow our news in e-mail and social networks
Follow our news in e-mail and social networks Visit our website to subscribe to the newsletter Your Email Subscribe www.delfingroup.lv
Slide 24: Appendix
Key Business Business Appendix Results Highlights Performance
Slide 25: Consolidated income statement
Consolidated income statement Balance sheet, 2021 2022 2023 2024 EUR’000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1* Q2* Q3* Q4 Q1 Q2 Q3 Q4 Total revenue 5,890 5,765 6,335 7,199 7,586 8,095 9,587 10,507 11,333 11,970 13,208 13,912 14,260 14,838 16,503 17,356 Cost of sales -620 -862 -721 -955 -780 -1,080 -1,179 -1,1
Slide 26: Consolidated balance sheet
Consolidated balance sheet Balance sheet, 2021* 2022* 2023 2024 EUR’000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Fixed and intangible assets 864 818 789 1,201 1,031 1,351 1,387 1,470 1,595 1,823 2,150 2,680 2,814 3,032 3,192 3,228 Right-of-use assets 3,281 3,145 3,013 2,973 2,915 2,733 2,783
Slide 27: Sustainability
Sustainability Promotion of circular economy Inclusive society Sustainable corporate governance Prolonged life-cycle of consumer goods. The most geographically available financial 3 independent members of the institution in Latvia. 90+ branches across Latvia. More than 160k pre-owned items sold year
Slide 28: Historic timeline
Historic timeline 120 Launch of Digital Pawnshop Start of Operations in Lithuania 100 Renewal of Banknote Net Loan Portfolio, Millions EUR Online Store: veikals.banknote.lv Initial Public Offering 80 at Nasdaq Riga Corporate Identity Changed to: Launch of Online Lending Brand: 60 Joined the Global L
Slide 29: Highly appreciated company
Highly appreciated company Top Employer Best Trader of Latvia Gold Category in Sustainability Index 2023 CV-Online Latvia Latvian Traders Association Institute of Corporate Sustainability and Responsibility Latvian Corporate Governance Award 2021 Family-Friendly Workplace ISO 9001, ISO 5001 Certific
Slide 30: Definitions for alternative performance measures
Return on Equity (ROE) Definitions for alternative Net profit for the period/months in the period*12 / ( ((Equity as at start of the period) + (Equity as at period end)) / 2) performance measures Total Revenue Net sales + Interest income and similar income. Represents income generated by ompany’s bu
Slide 31: Disclaimer
Disclaimer This presentation is of selective nature and is made to This presentation is not a legally binding document, and the provide an overview of the company’s (AS DelfinGroup and Company has no liability for any direct or indirect loss from its subsidiaries) business. the use of this presentat
Slide 32: AS DelfinGroup
AS DelfinGroup Skanstes Street 50A, Riga, Latvia, LV-1013 [email protected] (+371) 26 18 99 88 www.delfingroup.lv