DelfinGroup continued to show stable growth in the third quarter of 2025, which was reflected in a 23% increase in revenue, reaching EUR 20.3 million. Meanwhile, third-quarter pre-tax profit reached a historic high of EUR 3 million, up 23% from a year before. The net loan portfolio grew to EUR 139.2 million, representing a 23% increase since the beginning of the year.
Summarizing the results for the first nine months of 2025, DelfinGroup revenue increased by 26% compared to the same period last year, reaching EUR 57.3 million, while profit before tax increased by 16% to EUR 7.8 million.
Revenue growth in the third quarter was mainly driven by competitive product offerings in Latvia and the rapidly growing consumer lending segment in Lithuania. Overall, DelfinGroup issued a record amount of new loans in the third quarter - EUR 38.3 million, which is a 44% increase compared to the same period last year. while sales in the retail segment reached EUR 5.1 million in the third quarter, an increase of 13%. In terms of the company's costs, the third quarter saw the effect of the cost base optimization initiated in the second quarter, resulting in significant savings in administrative costs, which allowed quarterly profit before tax to increase by 23%.
In the third quarter, Lithuania's consumer lending business continued to show strong growth, with new loans issued amounting to EUR 3.8 million. Since the launch of consumer lending at the beginning of this year, loans totaling EUR 8.2 million have been issued. With the increase in lending, Lithuania's consumer loan portfolio also grew, reaching EUR 6 million, which is a 74% increase over one quarter.
Taking into account Lithuanian business development trends, DelfinGroup management decided to focus on online consumer lending, which is more profitable, and to discontinue the pawnshop and retail segments, thereby closing all seven branches in Lithuania. The branch closure process is expected to be completed during the fourth quarter. This step will enable DelfinGroup to increase the profitability of its Lithuanian business in the long term.
In order to secure financing for further development of the company and refinance bonds in the amount of EUR 15 million maturing in February 2026, DelfinGroup, issued new unsecured bonds in a private placement for a total amount of up to EUR 25 million, with a fixed interest rate of 9.5%, which the company managed to reduce by approximately 1.5 percentage points compared to the maturing bonds. The new bonds have a two-year maturity. The minimum subscription amount is set at EUR 100,000, while the nominal value of a single bond is EUR 1,000. The bonds will be placed gradually until the full issue amount is reached.
To improve liquidity, the company is working on refinancing its short-term liabilities, which resulted in the redemption of AS Signet Bank loans in the amount of EUR 2.345 million, which were due in 2026. Meanwhile, the overdraft agreement with AS Citadele banka was extended for another year, with a repayment date set for September 2027. Work is also currently underway to extend Multitude Bank p.l.c. first credit line, which is planned to be finalised in the fourth quarter.
About DelfinGroup
DelfinGroup is a licenced fintech company established in 2009 and currently operating in Latvia and Lithuania. The company operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer loans, pawn loans, and the sale of pre-owned goods online and at more than 80 branches across Latvia. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
Additional information:Arturs Dreimanis
DelfinGroup Head of Treasury and Investor Relations
Phone: +371 26189988
E-mail: IR@delfingroup.lv