Eleving Group Reports Record Financial Performance in 2024

Eleving Group S.A. has announced its financial results for 2024, showcasing significant growth across its operations. The Group achieved a 15% increase in revenue, totaling EUR 217 million, driven by diverse product offerings. Consumer lending products led the revenue stream, contributing EUR 95.6 million, followed by traditional vehicle financing and subscription-based products.

The Group's adjusted EBITDA reached a historic high of EUR 90 million, marking a 16% improvement. Net profit rose by nearly 21% to EUR 29.6 million, with adjustments reflecting a 31% year-over-year growth.

Loan issuance volumes surged by 26.8% to EUR 368.6 million, bolstered by strong demand and strategic growth in Romania, Uganda, and other regions. The vehicle finance business saw significant customer activity, particularly in East Africa and Romania.

Operational advancements included the completion of the first phase of digitalization and improvements in risk evaluation processes, reducing non-performing loan rates.

Eleving Group's IPO became the largest in Nasdaq Riga's history, aiding in debt repayment and funding future growth initiatives.