In the twelve months to 2023, sales of used, gently used and new goods rose 27% to €15.1 million, but in the fourth quarter of this year they reached €4 million, or 21% more than last year, the company said on the stock exchange.
The company sells used goods through Banknote, Latvia’s largest second-hand goods chain, which opened its first five branches in Vilnius, Lithuania’s capital, last year. “At the end of last year we expanded our operations internationally by opening the first five Banknote branches in Vilnius, the capital of Lithuania. In addition to the development of existing outlets, we are constantly investing in the digitalisation of processes, to which we will also pay greater attention this year. “Last year we started purchasing goods remotely, which made it easier for residents to resell used and little-used goods,” explained Didzis Ādmīdiņš, chairman of the board of directors of DelfinGroup.
Furthermore, loan issuances in the mortgage segment increased by 20% in twelve months to €23.4 million. In the fourth quarter of 2023, mortgage loans worth 5.8 million euros were disbursed, i.e. an increase of 4%.
At the same time, in the consumer loans segment, loans for 68.9 million euros were disbursed in 2023, which is 13% more than in the same period last year, while in the fourth quarter 17.3 million euros, i.e. an increase of only 1%.
In total, trailing 12-month business volumes increased 16% and fourth quarter business volumes increased 5%.
In the fourth quarter the company focused on improving the quality of the credit portfolio, since already in the middle of the year the portfolio size target set for 2023, equal to 77 million euros, had been exceeded, while at the end of the quarter in the third quarter had reached 84.6 million euros. The company’s management appreciates the result achieved in terms of portfolio growth, which allowed it to focus on optimizing portfolio financing costs and increasing profitability in the last quarter.
The company highlighted that, along with the growth of the credit portfolio and loan demand, DelfinGroup has actively involved financing for the further development of the company in the second half of the year. Through three bond issues, over 30 million euros were raised last year from both institutional and private investors. At the same time, the company successfully carried out two bond issues for a total amount of 15 million euros. Additionally, in late 2023, DelfinGroup secured the largest lender financing in the company’s history by signing a credit line agreement with Multitude Bank plc for €11 million financing.
2024-01-08 08:38:08
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