In the third quarter of 2026, DelfinGroup generated revenue of EUR 21.2 million, representing a 5% increase compared to the same period last year, while profit before tax increased by 30% to EUR 3.9 million. The company also delivered solid results for the first nine months of the year, with revenue reaching EUR 61 million, an increase of 6% year-over-year. Profit before tax increased by 42% to EUR 11.2 million, while net profit grew by 43% to EUR 8.7 million.
Demand for DelfinGroup products remained stable in the third quarter. During the first nine months the company issued EUR 104.2 million in loans, an increase of 3% compared to the same period last year, while loan issuance in the third quarter amounted to EUR 36.9 million, a decrease of 4%, reflecting the one-off high issuance volume in the third quarter of 2025. The net loan portfolio reached EUR 157.4 million, representing a 9% increase since the beginning of the year. The consumer lending business in Lithuania continued to develop steadily, with the loan portfolio reaching EUR 13.8 million at the end of the quarter, an increase of 78% since the beginning of the year.
In the retail segment, including the sale of unredeemed pawn collateral, sales increased by 9% to EUR 5.5 million in the third quarter (EUR 14.8 million in the first nine months), while online sales grew by 55% year-over-year. Pawn loan issuance continued to be affected by the discontinuation of this business segment in Lithuania in the second half of 2025 and the focus on profitability, with EUR 5.7 million in loans issued in the third quarter and EUR 17.4 million in the first nine months.
Following the active cost reduction launched in mid-2025, sales expenses increased moderately in the third quarter compared to the previous quarters. This was primarily driven by the completion of the cost optimization measures and the lifting of the long-standing ban on the advertising of consumer and non-bank lending in Latvia, which led to higher advertising expenses in a competitive environment. At the same time, the company succeeded in reducing credit loss expenses by 14% in the third quarter compared to the corresponding period last year.
In the third quarter, DelfinGroup continued its efforts to reduce financing costs. As a result of the subordinated bond exchange offer carried out in July and the subsequent redemption of the issue, bonds amounting to EUR 5 million were refinanced, replacing an interest rate of 11% plus 3M EURIBOR with a fixed interest rate of 11.5%. In August, the company also carried out an early redemption of bonds amounting to EUR 7.1 million with a coupon rate of 9% plus 3M EURIBOR. The redemption was financed with proceeds from the bonds issued in May, carrying a fixed annual interest rate of 9.5%.
In September, DelfinGroup shareholders received dividends of EUR 1.4 million, or EUR 0.0317 per share, paid from the profit generated in the second quarter of 2026. This was the third dividend payment to shareholders in 2026. The Management Board also plans to propose to shareholders a dividend payout of 50% of the net profit generated in the third quarter of 2026.
About DelfinGroup
DelfinGroup is a licensed Latvian fintech company founded in 2009 and is a part of the INDEXO group since 2025. DelfinGroup currently operates 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
