FINANCIAL REPORT

UNAUDITED RESULTS FOR 12 MONTHS ENDING 31 DECEMBER 2021

Largest financial services branch network in Latvia

DELFINGROUP AT A GLANCE

* https://www.bicg.eu/corporate-governace-awards-held-in-latvia/

	Q4 HIGLIGHTS
IPO	DelfinGroup closed IPO on Nasdaq Riga. 5,927 investors participated, raising EUR 8.09 million gross proceeds. Shares listed on Baltic Main list.

TEAM	Strengthening of the management team with Sanita Zitmane, an experienced professional in developing and managing fintech products.

FUNDING	Redemption of bonds with 14% and 12% annual coupon rates. Refinanced by new bond emission with 8% annual coupon rate.

SOCIAL INITIATIVES	DelfinGroup supports Children's Hospital and seniors at social care institutions.

EBITDA

* EBITDA and PBT for Q3 2020 is higher due to a reversal of provisions for doubtful debts created at the beginning of the Covid-19 pandemic

1 st, 2nd and 3rd wave of COVID-19 restrictions in Latvia

* Average consumer loan balance for one client at the end of period.

1 st, 2nd and 3rd wave of COVID-19 restrictions in Latvia

€

Average loan amount

1 st, 2nd and 3rd wave of COVID-19 restrictions in Latvia

* Excluding wholesale of precious metals (scrap)

1 st, 2nd and 3rd wave of COVID-19 restrictions in Latvia

CONSOLIDATED INCOME STATEMENT

INCOME STATEMENT, EUR'000		2021	Change	2020 12M**	2021 12M	Change
	Q3	Q4	%			%
Total revenue Cost of sales	6,463	7,089 -849 -1,057	10% 24%	23,664 -4,224	25,489 -3,668	8% -13%
Credit loss expense*	-956	-237	-75%	-2,404	-2,477	3%
Interest expenses and similar expenses	-885	-1,109	25%	-3,547	-3,855	9%
Gross profit	3,773	4,687	24%	13,487	15,488	15%
Selling expenses	-1,524	-1,866	22%	-5,446	-6,158	13%
Administrative expenses	-1,051	-1,127	7%	-3,261	-4,213	29%
Other operating income	29	29	0%	72	85	16%
Profit before tax	1,227	1,723	40%	4,854	5,203	7%
Income tax expense	-201	-155	-23%	-755	-979	30%
Net profit	1,026	1,568	53%	4,100	4,224	3%
EBITDA	2,367	3,191	35%	9,466	10,196	8%
purpose of comparison, other operating expenses expenses are losses from cession of non-performing Data reflected according to restated comparatives in newest FS's.	are reclassified loans (debt	to credit sales).	loss expense	as major	part of other

BALANCE SHEET, EUR'000	2020.12.31	2021.12.31	Change
Fixed and intangible assets	1,038	1,201	16%
Loans to related parties	474	-	-100%
Net loan portfolio	34,674	42,962	24%
Inventory and scrap	1,534	1,949	27%
Other assets	655	520	-21%
Cash	4,592	2,460	-46%
Right-of-use assets	3,194	2,973	-7%
TOTAL ASSETS	46,161	52,065	13%
EQUITY	9,454	17,377	84%
Share capital and reserves	4,000	4,532	13%
Share premium		6,891	100%
Retained earnings	1,354	1,731	28%
Profit/loss for the current year	4,100	4,224	3%
LIABILITIES	36,708	34,687	-6%
Interest-bearing debt	31,151	29,412	-6%
Trade payables and other liabilities	2,121	1,970	-7%
Lease liabilities for right-of-use assets	3,436	3,305	-4%
TOTAL EQUITY AND	46,161	52,065	13%