DelfinGroup (DGR1R) Q2 2024 earnings summary

Executive summary

• Achieved record-high loan issuance of €26.1m in Q2 2024, up 20% year-over-year.

• Net loan portfolio grew 14% in H1 2024 to €101.5m, surpassing strategic targets.

• Total revenue reached €14.8m in Q2 2024, a 24% increase year-over-year; H1 2024 revenue was €29.1m, up 25%.

• Profit before tax in Q2 2024 was €2.3m, up 18% year-over-year; H1 2024 profit before tax was €4.4m, up 15%.

• Expansion in Lithuania with new consumer lending license and branch openings.

Financial highlights

• H1 2024 revenue totaled €29.1m, up 25% year-over-year.

• Net profit for Q2 2024 was €1.84m, a 4% increase year-over-year; H1 2024 net profit was €3.5m, up 2%.

• EBITDA for Q2 2024 was €5.42m, up 25% year-over-year; H1 2024 EBITDA was €10.5m, up 25%.

• Credit loss expense rose 28% in Q2 2024 due to portfolio growth.

• H1 2024 sales of pre-owned and new goods reached €7.6m, up 12%.

Outlook and guidance

• Plans to launch consumer lending in Lithuania in Q3 2024 and expand branch network through 2025.

• New €15m public bond issue approved to refinance maturing bonds and expand investor base.

• Focus on digitalization and mobile app improvements for lending products.