Eleving Group · OMXRSE:ELEVR
Eleving — Debt Investor Presentation (February 2025)
33 slides from Eleving's debt investor presentation, February 2025
Slide 1: Profitable global fintech from the Baltics
Profitable global fintech from the Baltics
Slide 2: Disclaimer
2 Disclaimer The information contained in this presentation has been prepared jointly by Eleving Group (“Group”, ”Company”, or “Eleving”) and Aalto Capital AG, a registered corporate finance boutique located in Munich, Germany. The presentation does not by any means constitute an offer or a solicita
Slide 3: Presenters
Presenters Modestas Sudnius Maris Kreics Group CEO Group CFO ▪ With Eleving Group since 2013, as Group CEO since ▪ With Eleving Group since 2015 January 2019 ▪ Prior to Eleving Group, Maris spent two years in a ▪ Started as a country manager in Lithuania, where corporate finance role with Tet, the l
Slide 4: Index
Index Company Overview 5 Products and Customers 9 Business Process Flow 12 Financials and Portfolio Analysis 16 Outlook and ESG 20 Proposed Transaction Overview 23 Appendix 27
Slide 5: Who we are
5 Who we are A global, fast-growing fintech providing innovative, accessible and sustainable financial solutions Delivering financial and mobility services Baltic talent, Serving customers know-how and globally by providing IT solutions best customer service
Slide 6: Eleving Group at a glance
6 Eleving Group at a glance Strong growth and business metrics Products Growth Financials Governance 16 €90m Countries Adjusted EBITDA 2024 Vehicle finance €2.0b €372m Domiciled in Luxembourg Loans issued since inception Net portfolio 2024 25% €217m Net portfolio CAGR (2016-24) Revenue 2024 Consumer
Slide 7: Key milestones of Eleving Group
7 372 Key milestones of Eleving Group Mogo finance 320 Major expansion across the globe becomes Eleving Group 289 249 Net Portfolio, EUR mln Number of markets 194 201 Former bonds, EUR mln Current bonds, EUR mln 141 IPO subscription, EUR mln 97 150 55 64 35 8 75 50 20 25 30 25 29 10 2012 2013 2014 2
Slide 8: Index
Index Company Overview 5 Products and Customers 9 Business Process Flow 12 Financials and Portfolio Analysis 16 Outlook and ESG 20 Proposed Transaction Overview 23 Appendix 27
Slide 9: Scalable and flexible product universe
9 Scalable and flexible product universe Multi-brand product platform Accessible and affordable Flexible premium car 81% mobility product for leasing for people customers in underserved looking for high-quality market segments vehicles EUR 168.5 mln Net portfolio Mobility EUR 28.3 mln Net portfolio
Slide 10: Global platform with presence in 16 countries across the world
Global platform with 13% 10 Kenya (KE) Population: 55.3 mln presence in 16 countries Share of portfolio: 12.9% Rest of across the world Uganda (UG) Population: 48.7 mln Share of portfolio: 8.3% the world Diversified portfolio risk Botswana (BW) Population: 2.5 mln Share of portfolio: 4.8% HQ Estonia
Slide 11: Index
Index Company Overview 5 Products and Customers 9 Business Process Flow 12 Financials and Portfolio Analysis 16 Outlook and ESG 20 Proposed Transaction Overview 23 Appendix 27
Slide 12: Diversified portfolio underpinned by a hybrid operating model
Diversified portfolio underpinned by a 12 hybrid operating model Business model adopted for global operations Broad range of products enabling Products offered through an Backed by extendable IT a balanced portfolio composition established lending structure solutions and mobile teams Traditional veh
Slide 13: AI based platform delivering excellent customer experience and competitive edge
AI based platform delivering 1 835 000+ mln1 13 Applications processed excellent customer experience and giving competitive edge Automated, data-driven customer journey to ensure 8.3% 33.8%2 Vehicle Finance Consumer Finance minimal response time Conversion rate Conversion rate Input AI-fuelled Outpu
Slide 14: Operation model complemented by an effective debt collection process
Operation model complemented 14 by an effective debt collection process Versatile, result-oriented in-house debt collection process fueled by automation Sustained effort to reach an agreement with a customer for loan repayment prior to pursuing further debt collection activities Pre-collection 66% 8
Slide 15: Index
Index Company Overview 5 Products and Customers 9 Business Process Flow 12 Financials and Portfolio Analysis 16 Outlook and ESG 20 Proposed Transaction Overview 23 Appendix 27
Slide 16: Financial highlights
16 Financial highlights Revenue, mln EUR1 EBITDA, mln EUR2 Total net profit, mln EUR3 Growth 14.6% Growth 16.1% Growth 31.4% 90.0 32.2 217.0 189.3 77.5 24.5 29.6 175.7 148.9 65.6 55.0 18.6 7.1 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 Interest coverage ratio Net leverage Capitaliza
Slide 17: Assets and Liabilities
Assets and Liabilities 17 Upcoming bond maturities and issuances Assets and Equity, mln EUR 475.8 2026 2028 421.3 18.10.2026 31.10.2028 361.1 EUR 150 mln EUR 50 mln plus 320.0 279.8 maturity tap maturity 251.1 174.3 112.5 72.6 82.0 108.2 2025 2027 34.4 48.7 33.9 17.8 8.6 28.8 27.5 5.2 11.5 6.5 9.3 1
Slide 18: Non-performing loans and provisioning
Non-performing loans 18 Gross and net NPL portfolio2 and provisioning Maintaining excellent portfolio quality 25.0% 20.0% Net vehicle loan portfolio Net consumer loan portfolio quality analysis1 quality analysis1 15.0% As of 31 December 2024 As of 31 December 2024 10.0% 6.1% 4.3% 5.0% 9.0% 2.6% 0.0%
Slide 19: Index
Index Company Overview 5 Products and Customers 9 Business Process Flow 12 Financials and Portfolio Analysis 16 Outlook and ESG 20 Proposed Transaction Overview 23 Appendix 27
Slide 20: Business outlook (2025)
Eleving Group Business outlook (2025) Accelerating growth through market expansion and product innovation Products and markets Capital management ▪ Maintain existing market positions, with a focus on ▪ Continue to be active in debt capital markets by raising additional growing portfolio across all m
Slide 21: Strong commitment to promoting sustainable business practices
21 Strong commitment to promoting Social sustainable business Environment Governance practices Key milestones in 3 sustainability-linked Continuous sustainability the ESG area products reporting framework 20 mln 67 000+ Best Investor Relations in Nasdaq Baltic First km commuted on pure global consum
Slide 22: Index
Index Company Overview 5 Products and Customers 9 Business Process Flow 12 Financials and Portfolio Analysis 16 Outlook and ESG 20 Proposed Transaction Overview 23 Appendix 27
Slide 23: Proposed transaction
23 Proposed transaction Transaction in brief The Baltic-regulated market of the Nasdaq Riga Regulated market Stock Exchange, and the Frankfurt Stock Exchange ISIN DE000A3LL7M4 Temporary ticker ELEVRBOND1 Nominal value EUR 100.00 Issue price 109% MOGO AUTO LTD AS MOGO AS RENTI OCN SEBO CREDIT SRL Cou
Slide 24: Proposed transaction terms
24 Proposed transaction terms Issuer Eleving Group Issue Senior secured bonds Structure Guaranteed and secured Guarantors All Material Group Companies including AS “mogo” (Latvia), Primero Finance OÜ (Estonia), UAB “mogo LT” (Lithuania), Mogo LLC (Georgia), Mogo IFN SA (Romania), O.C.N. “MOGO LOANS”
Slide 25: Developed infrastructure, diversified business, reliable credit profile
Diversified business Developed infrastructure 25 Markets Products Underwriting Network Versatility Leadership Baltic-based global platform Flexible and affordable High-quality portfolio driven Widespread physical Selection of brands for Experienced management enabling risk diversification financial
Slide 26: Appendix
26 Appendix 27 Income Statement 28 Balance Sheet 29 Statement of Cash Flow 30 Organizational Structure 31 Management Team 32 Glossary
Slide 27: Income Statement
27 Income Statement EUR mln 2020 2021 2022 2023 2024 Interest revenue calculated using the effective interest method 73.7 139.9 162.5 176.3 203.8 Interest expense calculated using the effective interest method (24.9) (29.0) (31.1) (37.5) (41.5) Net interest income 48.8 110.9 131.4 138.8 162.3 Fee an
Slide 28: Balance Sheet
28 Balance Sheet Assets, EUR mln 2020 2021 2022 2023 2024 Equity & Liabilities, EUR mln 2020 2021 2022 2023 2024 ASSETS EQUITY Goodwill 6.6 4.2 4.7 6.8 6.8 Share capital 1.0 1.0 1.0 2.9 3.0 Internally generated intangible assets 5.9 7.5 8.6 10.3 11.8 Share premium - - - - 25.5 Other intangible asset
Slide 29: Statement of cash flows
29 Statement of cash flows EUR mln. 2020 2021 2022 2023 2024 EUR mln 2020 2021 2022 2023 2024 Cash flows from operating activities Cash flows from investing activities Profit before tax 0.9 13.2 25.4 31.0 38.6 Purchase of property, plant and equipment and (4.0) (5.8) (5.8) (5.5) (6.8) intangible ass
Slide 30: Organizational Structure
30 Organizational Structure Hub-based structure to ensure hands-on management of businesses Mogo Mogo, Renti, Primero Mogo Sebo Mogo Mogo, Renti Mogo Tigo Mogo Mogo Mogo Kredo Mogo Express Credit Express Credit Express Credit Express Credit
Slide 31: An outstanding management team with extensive local know-how
Eleving Group An outstanding management team International teams across the markets to deliver strategic intitatives with extensive local know-how 2 793 30.8 Marcis Grinis Derek Urben Lev Dolgatsjov Number of employees Average tenure, months Chairman of the Independent Independent Supervisory Board
Slide 32: Glossary
32 Glossary Definitions and Alternative Performance Measures ▪ Average tenure (employee) – average length of time in months employees are employed by the ▪ Market capitalization – the total market value of a company's equity, calculated by multiplying the company. current stock price by the total nu
Slide 33: Contacts
Contacts Investor Relations investors@eleving.com Modestas Sudnius, Maris Kreics, Manfred Steinbeisser, CEO of Eleving Group, CFO of Eleving Group, Managing Partner at Aalto Capital, modestas.sudnius@eleving.com maris.kreics@eleving.com manfred.steinbeisser@aaltocapital.com www.eleving.com
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