Delfingroup As · OMXRSE:DGR1R
Delfingroup As — Q1 2025 Earnings Presentation
33 slides from Delfingroup As's earnings presentation, May 2025
Slide 1: Financial report: unaudited results for 3 months ending 31 March 2025
Financial report Unaudited results for 3 months Ending 31 March 2025
Slide 2: Key results highlights
Key Business Business Appendix results highlights performance
Slide 3: Key characteristics of Q1 2025
Business results +25% +6% +27% +31% Key Q1 pawn loan Q1 retail of characteristics of Q1 consumer loan issuance growth y-o-y issuance growth Q1 net loan portfolio growth y-o-y pre-owned goods y-o-y growth y-o-y Q1 2025 Financial results +23% +11% +11% Q1 revenue Q1 EBITDA Q1 profit before tax growth
Slide 4: Key results
Total loans Issued N et loan portfolio m€ Q1 y-o-y Q1 y-o-y m€ Q1 y-o-y Q1 y-o-y +1.0 +4% +5.0 +20% +22.1 +30% +25.4 +27% 24.0 21.8 23.5 23.1 25.0 26.1 26.5 27.0 30.0 73.5 78.1 84.6 89.0 95.6 101.5 107.7 113.5 121.0 Key results Loan issuance in Q1 2025 continued to increase, reaching the record-high
Slide 5: Business highlights
Key Business Business Appendix results highlights performance
Slide 6: Management improvements
Management improvements Member of the Management Board Laima Eižvertiņa Chief Administrative Officer Laima Eižvertiņa has become a Member of the Management Board of DelfinGroup. Laima is actively involved in leading strategic and development projects, as well as organizing the work of the management
Slide 7: Merging of Latvian and Lithuanian online stores
Merging of Latvian and Lithuanian online stores Before LV and LT online stores operated as separate stores with a separate inventory. Now the stores are merged and Lithuanian clients can purchase items from Latvia and vice versa. Merging of the stores creates synergy and allows to save resources on
Slide 8: Stock Analysis updates
Enlight research Stock Analysis Bull Base Bear updates 1.86 EUR 1.57 EUR 1.28 EUR 61%* 36%* 11%* The latest analyst updates on DelfinGroup stock valuation Signet Bank 1.58 EUR 37%* * Potential upside from 30 April 2025 stock price of EUR 1.152 8
Slide 9: Capital markets & funding highlights
Bonds In total 4 DelfinGroup bond issues are listed on the Nasdaq Baltic stock exchange Capital markets & In September 2024 DelfinGroup organized a successful public bond issue with oversubscription of 148% with total demand reaching EUR 22.3 million. funding highlights Banks DelfinGroup signed addi
Slide 10: Branch network
Banknote XL, Liepāja Rīga branch network 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: Opening of the 4th Banknote XL concept branch in Liepāja, Lielā iela 4. Ogre, Skolas st
Slide 11: DelfinGroup and Children's Hospital Foundation
DelfinGroup and Children's Hospital Foundation Since 2018, DelfinGroup has been working with the Children's Hospital Foundation to help implement various initiatives that promote modern, child-centred healthcare. This year, the company is making a significant contribution to the professional develop
Slide 12: Business performance
Key Business Business Appendix results highlights performance
Slide 13: Consumer loans
Consumer net loan portfolio Average loan* m€ Q1 y-o-y Q1 y-o-y m€ Q1 y-o-y Q1 y-o-y Consumer loans +19.6 +29% +24.0 +27% +344 +21% +476 +24% 67.7 71.7 76.9 81.6 87.3 92.9 98.8 104.0 111.3 1 669 1 765 1 840 1 837 2 013 2 119 2 201 2 324 2 489 The consumer lending portfolio continued increasing, as di
Slide 14: Pawn loans
Pawn net loan portfolio* m € Q1 y-o-y Q1 y-o-y +0.7 +18% +0.3 +8% 3.8 4.1 4.0 4.1 4.5 4.6 4.8 4.9 4.8 Pawn loans Pawn loan portfolio has increased 8% compared to Q1 2024. Pawn loan issuance increased 6% in 12M period. The average pawn loan amount has grown over Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2
Slide 15: Retail of pre-owned goods
Sales of pre-owned goods m€ Q1 y-o-y Q1 y-o-y +0.3 +9% +1.1 +31% Retail of 3.3 3.5 3.9 4.0 3.6 4.0 4.5 4.6 4.7 pre-owned goods* Stable and consistent growth has been achieved in the retail segment by promoting the circular economy principles in Latvia and Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Li
Slide 16: Sales split by product category
Sales split by product category Sales split by product category (Q1 2025) 31% 24% 18% 13% 7% 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 produ
Slide 17: Diversification
Revenue by business segments 3M 2025 Diversification Although the most significant part of the 12% revenue stream comes from the consumer loan segment, we see great potential in gradually growing other DelfinGroup segments. 14% DelfinGroup products cover all age groups thanks to customised financial
Slide 18: Consolidated income statement
Income statement, 2025 2024 Change EUR’000 3M 3M % Consolidated Total revenue 17,527 14,260 +23% Cost of sales -1,957 -1,505 +30% income statement Credit loss expenses -4,658 -3,421 +36%* Interest expenses and -2,865 -2,561 +12% similar expenses Gross profit 8,048 6,773 +19% In Q1 the company focuse
Slide 19: Consolidated balance sheet
Balance sheet, 31.03.2025 31.12.2024 Change % EUR’000 Fixed and intangible assets 3,241 3,228 +0% Right-of-use assets 2,618 2,653 -1% Net loan portfolio 120,992 113,474 +7% Inventory and scrap 4,014 3,990 +1% Other assets 2,034 2,014 +1% Cash 1,740 1,644 +6% Consolidated Total assets 134,638 127,003
Slide 20: Financial ratios
Financial ratios EBITDA margin* Adjusted equity ratio** ROE*** 40% 34.9% 39.8% 40% 40% 36.6% 36.2% 35.9% 36.1% 36.2% 36.2% 35.8% 34.8% 34.0% 40% 37.2% 33.3% 33.8% 32.9% 26.7% 26.2% 30% 29.7% 27.9% 30% 25.3% 26.3% 26.5% 30% 30% 22.2% 23.5% 24.9% 26.3% 21.8% 20% 20% 20% 20% 10% 10% 10% 10% 0 0 0 0 Q1
Slide 21: Capital structure
Bond financing track record* m€ Capital structure 10.0 10.0 15.0 15.0 15.0 13% 20% 5.0 5.0 5.0 5.0 5.0 4.8** Equity 25.7 m € 3.5 3.5 Mintos 30.5 m € Bonds 54.6 m € 2013 2014 2016 2019 2020 2021 2021 2022 2023 2023 2023 2024 2024 24% Secured Unsecured Unsecured Secured Unsecured Unsecured Unsecured U
Slide 22: Dividends
Dividend yield 8.0%* Dividends *Based on share price of EUR 1.152 on 30 April 2025 and including management’s proposed dividends from Q1 2025 net profit. Unique dividend distribution proposal in Baltics Dividend Dividend EUR/ EUR Payout period payment date Share Total ratio*** Quarterly dividends Q1
Slide 23: Share performance
Share price and turnover, € 1.6 180 000 Share performance 1.5 150 000 1.4 1.3 120 000 1.2 1.1 90 000 Share price changes since Q2 2024 due to the 1 largest shareholder’s public share offerings in 60 000 0.9 which the shares were offered at a discount for 0.8 a price of EUR 1.09 per share. Since then
Slide 24: 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 25: Appendix
Key Business Business Appendix Results Highlights Performance
Slide 26: Consolidated income statement
Consolidated income statement Balance sheet, 2021 2022 2023 2024 2025 EUR’000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1* Q2* Q3* Q4 Q1 Q2 Q3 Q4 Q1 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 17,353 17,527 Cost of sales -620 -862 -721 -955 -780 -1,
Slide 27: Consolidated balance sheet
Consolidated balance sheet Balance sheet, 2021* 2022* 2023 2024 2025 EUR’000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4* Q1 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 3,241 Right-of-use assets 3,281 3,145 3,013 2,973 2,9
Slide 28: 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 29: Historic timeline
Historic timeline 120 Launch of Consumer Lending in Lithuania 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
Slide 30: 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, ISO 270
Slide 31: Definitions for alternative performance measures
Definitions for alternative Return on Equity (ROE) 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 32: 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 33: AS DelfinGroup
AS DelfinGroup Skanstes Street 50A, Riga, Latvia, LV-1013 IR@delfingroup.lv (+371) 26 18 99 88 www.delfingroup.lv