Eleving Group ended the first half of 2025 with revenue of EUR 117.5 million

Eleving Group, a publicly listed international financial technology company, ended the first six months of this year with a revenue of EUR 117.5 million, which is 10.8% higher compared to the same period last year. The Group’s adjusted EBITDA for the first half of 2025 was EUR 45.3 million, while net profit reached EUR 15.2 million.

“We ended the first half of this year with very strong operational results, issuing loans worth EUR 200.1 million to both existing and new customers, which is a record-high volume. Compared to the same period last year, this represents a 19.8% increase, when the volume of loans issued was EUR 167.0 million,” explains Modestas Sudnius, CEO of Eleving Group, adding that the company will continue to implement its growth strategy in the second half of this year by strategically expanding the range of services offered to its customers.

During the reporting period, revenue growth was observed across all product groups. Revenue from traditional vehicle financing products in the first six months of this year reached EUR 38.2 million, which is 5.2% higher than in the corresponding period last year. Revenue from flexible and subscription-based products increased by 17.5% in the first half of this year, reaching EUR 27.5 million. Meanwhile, revenue from consumer lending products during the reporting period amounted to EUR 51.8 million, representing an 11.9% increase compared to the same period last year.

At the end of the second quarter of this year, Eleving Group’s loan portfolio amounted to EUR 375.3 million, which is 9.3% higher compared to the same period last year, when it stood at EUR 343.5 million.

“During the reporting period, we had several positive developments. In May, the international credit rating agency Fitch Ratings revised Eleving Group’s Long-Term Issuer Default Rating from 'B' with a stable outlook to 'B' Qwith a positive outlook. In June, we paid out EUR 14.8 million in dividends to our shareholders. This marked the first dividend payment since the company’s IPO and listings on the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard in October 2024,” says Modestas Sudnius, CEO of Eleving Group.

Eleving Group notes that it has initiated discussions with institutional investors regarding the potential refinancing of the Group’s bonds, which mature on 18 October 2026. The company is evaluating opportunities to carry out the refinancing in the second half of this year, offering existing bondholders the option to exchange their bonds, while also allowing new investors to participate.

About Eleving Group

Eleving Group is a publicly listed international financial technology company founded in 2012. Today, the Group operates in 16 countries across three continents, providing vehicle and consumer financing services. Since its founding, Eleving Group has served more than 1.4 million registered users. The Group employs over 3,292 people across its operations. The company’s headquarters are located in Riga, Latvia.

Since October 16, 2024, Eleving Group shares have been listed on both the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard.