EQS-News: Eleving Group reports audited results of 2024

Eleving Group, a Baltic-headquartered and Luxembourg-domiciled global multi-brand fintech company, has published its Integrated Annual Report for the financial year 2024, confirming strong performance and setting the stage for continued growth.

In 2024, Eleving Group achieved significant milestones, demonstrating robust financial strength and operational excellence. The audited financial results reflect a net loan portfolio of EUR 371.2 mln, revenues of EUR 216.6 mln, total net profit of EUR 29.6 mln, and EBITDA of EUR 89.8 mln. All of these results are historically best for the company, beating last year's results by approximately 20%.

Consistent with the Group's dividend policy, Eleving Group management proposes to distribute approximately EUR 14.8 mln to its shareholders in dividends, delivering a compelling dividend yield of 7.47% or EUR 0.127 per share when compared to the IPO price of EUR 1.70 (excluding treasury shares held by Eleving Group). Eleving Group’s management remains committed to distributing interim dividends for the first six months of 2025 in November 2025.

"2024 was a defining year for Eleving Group — marked by exceptional financial performance, strategic achievements, and continued operational refinement. We significantly expanded our market presence, advanced digital initiatives, strengthened our risk management practices, successfully entered the public equity market, and progressed substantially on our sustainability objectives. All of this sets the stage for future growth and enhanced value creation.

Looking ahead, our strategy revolves around three fundamental pillars: strengthening our footprint in existing markets, broadening our product portfolio, and exploring new geographical opportunities. This strategic direction strongly positions us to substantially grow and scale Eleving Group’s business in the coming years. As we move forward, we remain firmly committed to delivering value to our shareholders through sustained business growth and consistent bi-annual dividend distributions," adds Modestas Sudnius, the CEO of Eleving Group.

Integrated Annual Report 2024 can be found here: https://www.eleving.com/investors/reports

About Eleving Group

Eleving Group has driven innovation in financial technology around the world since its foundation in Latvia in 2012. As of today, the group operates in 16 markets and 3 continents, encouraging financial inclusion and upward social mobility in underserved communities around the globe. Eleving Group has developed a multi-brand portfolio for its vehicle and consumer finance business lines, with around 2/3 of the portfolio comprising secured vehicle loans and mobility products, with Mogo as the leading brand, and around 1/3 of the portfolio including unsecured consumer finance products. Currently, 53% of the group's loan portfolio is located in Europe, 34% in Africa, and 13% in the rest of the world. 

The Group's historical customer base exceeds 1.3 mln customers worldwide, while the total volume of loans issued goes beyond EUR 2.0 bln. With headquarters in Latvia, Lithuania, and Estonia and a governance structure in Luxembourg, the Group ensures efficient and transparent business management, powered at the operational level by over 2790 employees. For two consecutive years, the Group was listed among Europe’s 1000 fastest-growing companies published by the Financial Times in 2020 and 2021, while in 2024, Eleving Group was ranked as the 41st fastest-growing European company in the last decade in 'Europe's Long-Term Growth Champions 2024' research by Financial Times and Statista. 

Read more: www.eleving.com