DGAP-News: Eleving Group S.A.: Eleving Group (former Mogo Finance) reports unaudited results for the three months ended 31 March 2022
Vehicle and Consumer Financing Portfolio has reached EUR 259.9 mlna record-high for the company and a 41.6% increase compared to Q1 2021.
DGAP-News: Eleving Group S.A. / Key word(s): Interim Report/Interim Report Eleving Group S.A.: Eleving Group (former Mogo Finance) reports unaudited results for the three months ended 31 March 2022 13.05.2022 / 19:50 The issuer is solely responsible for the content of this announcement. All-time best quarterly performance
Operational and Strategic Highlights
Modestas Sudnius, CEO of Eleving Group, commented: “In the first quarter of 2022, Eleving Group has been successful both operationally and financially. We managed to achieve the planned growth and profitability targets, which testifies to the quality of our portfolio and the effectiveness of the company’s operations and chosen strategy. During the first quarter of 2022, we continued to demonstrate strong results across our markets and business lines. It was an exceptional quarter for our most developed markets—the Baltic States and the Caucasus, and consumer finance businesses in Albania and North Macedonia. In addition, rapid growth was still observed in Kenya and Uganda, where Eleving Group has become an indispensable partner for unbanked customers seeking mobility solutions to increase their income. Despite the challenges, Eleving Group continued to implement new projects, though on a smaller scale. Primero, a premium car lease product, has been successfully launched in Armenia. A fleet of new cars is gradually growing in Latvia to support the development of Renti Plus, a car subscription service. A lending license has been received in Finland, with plans to launch vehicle finance operations in the second quarter of 2022.”
13.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Eleving Group S.A. |
8-10 avenue de la Gare | |
1610 Luxembourg | |
Luxemburg | |
Internet: | www.eleving.com |
ISIN: | XS1831877755 |
WKN: | A191NY |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Munich, Tradegate Exchange; SIX |
EQS News ID: | 1352529 |
End of News | DGAP News Service |
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1352529 13.05.2022