Eleving Group is a Baltic-based but global provider of vehicle and consumer financing, and it has set a target of an annual increase by 19-20% in its net portfolio and revenue, the company declared in a statement to the NASDAQ Riga stock exchange.
The group has announced is unaudited financial results in 2024, with a net profit of EUR 29.6 million. The company’s 50% dividend payout policy means that it will pay out between EUR 14 and 15 million in dividends for the year.
The company’s financial performance met or exceeded key targets last year, with the net portfolio expanding to EUR 372 million. This surpassed an initial projection of EUR 363 million.
Eleving hopes to double its business operations over the next two years, focusing on geographic expansion, strengthening its presence in existing markets, and introducing new product concepts. The first steps toward these goals will be taken in 2025, when the company plans to enter new markets.
The Eleving Group is also planning for an annual increase of 19-20% in its net portfolio and revenues, aiming for EUR 520 million and EUR 315 million respectively by the end of 2026.
The Eleving Group was established in 2012 under the name Mogo Finance. It operates in 16 markets all around the world, offering financial services in the mobility and consumer finance segments. The group includes the vehicle finance brands Mogo, Primero, Renti and OX Drive, as well as the consumer finance brands Kredo, Sebo, Tigo and Express Credit.
Source: BNS
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