Latvia’s DelfinGroup plans to raise $ 15 million through an IPO. EUR Business

“The plans for 2022 are in line with our vision for the company’s future growth and the previously set financial goals for 2024. In the event that the IPO is successful, the company’s annual interest expense is expected to be reduced immediately to approximately $ 1.7 million. euros. The accumulation of additional funds will also help the company to strengthen its position in the market, focus on the development of existing products and create new lending products for different groups of society, ”said Didzis Admidinis, Chairman of the Board.

Last year, DelfinGroup earned 9.3 million. EUR audited earnings before interest, taxes, depreciation and amortization (EBITDA), reaching 44%. return on equity (ROE), which amounted to 34.6 mln. net loan portfolio. The company expects to reach 12 million in 2022, respectively. will exceed 30%. and will reach 51 million. euros.

The dividend payout ratio, which was 55 percent last year, is expected to be higher than 50 percent next year, the company says.

DelfinGroup is a licensed financial services company established in 2009 and represents the Banknote, VIZIA and Rigas pilsetas lombards brands. The company has 277 employees and 93 branches in 38 Latvian cities. Its main services are retail sales of its products through branches and online, loans to pawnshops, consumer loans and special services for people of retirement age.

.

See also  Tesla forced to update nearly 300,000 cars in China due to software problem