Eleving Group achieves record-high net profit of EUR 27.8 million in the first nine months of 2026

Eleving Group, an international financial technology company listed on the Frankfurt and Riga stock exchanges, closed the first nine months of 2026 with the revenue of EUR 263.8 million, representing a 47.5% increase compared with the corresponding period of 2025. Likewise, Eleving Group produced a record-high net profit of EUR 27.8 million, an increase of 17.8% compared with the corresponding period last year, when the group’s net profit amounted to EUR 23.6 million.

“We are pleased with our results for the first nine months of 2026. Our revenue reached a record high, growing by nearly a half compared with the same period last year. As planned, we moderated loan issuance in the third quarter, which, together with the efficiency measures implemented earlier in the year, resulted in our highest quarterly net profit to date. Our net profit for the first nine months is already comparable with that for the full year of 2025. Overall, we are well positioned to finish the year strongly,” says Modestas Sudnius, CEO of Eleving Group.

During the first nine months of 2026, the revenue from the vehicle financing products reached EUR 112.0 million, the revenue from smartphone financing amounted to EUR 39.2 million, while the revenue generated by consumer financing totaled EUR 112.6 million.

“October marked a significant milestone in our funding structure, as we successfully raised EUR 200 million in a new bond issuance. The offering was nearly 1.5 times oversubscribed, allowing us to secure a 9% coupon, compared with the 13% on the refinanced bonds, thus substantially reducing our funding costs. The transaction has strengthened our liquidity position, extended our debt maturity profile, and secured sufficient funding to support our planned portfolio growth in the foreseeable future,” says Modestas Sudnius, CEO of Eleving Group.

Part of the proceeds from the bond issuance has already been used to refinance Eleving Group’s EUR 90 million 13% bond issued in 2023 and maturing in 2028. The proceeds will also be used to repay part of Eleving Group’s outstanding borrowings on the Mintos platform, while the remaining funds will be gradually deployed to support the continued growth of the group’s loan portfolio.

At the end of the reporting period, Eleving Group’s total net loan portfolio reached EUR 548.7 million.