News

Return to accelerated growth backed by historically highest profitability
Return to accelerated growth backed by historically highest profitability
During the second quarter, Eleving Group delivered robust business performance, achieving EUR 43.7 mln in adjusted EBITDA and increasing its net profit to EUR 14.9 mln, or by 32% compared to a year ago.
Eleving Group announces a dividend policy
Eleving Group announces a dividend policy
The Group's Director and Supervisory Board, on July 30, 2024, approved a new official dividend policy aiming to pay semi-annual dividends with a payout ratio of 30-50%.
Fitch upgrades Eleving Group to ‘B’ with a stable outlook
Fitch upgrades Eleving Group to ‘B’ with a stable outlook
Fitch Ratings has upgraded Eleving Group’s Long-Term Issuer Default Rating (IDR) from ‘B-‘ to ‘B’ with a stable outlook. Also, the Group’s senior secured debt rating was upgraded to ‘B’ with a Recovery Rating ‘RR4’.
Eleving Group appoints an international Supervisory Board 
Eleving Group appoints an international Supervisory Board 
Eleving Group has appointed a supervisory board as it continues the process of evaluating a potential IPO. The functions of the Supervisory Board will henceforth be executed by Lev Dolgatsjov, Derek Urben, and Marcis Grinis. 
U.S. International Development Finance Corporation and Eleving Group sign a letter of intent for a USD 10 mln loan
U.S. International Development Finance Corporation and Eleving Group sign a letter of intent for a USD 10 mln loan
The seven-year loan will be made available for the Group’s subsidiary, Mogo Auto Limited (Mogo Kenya), to expand its electric vehicle financing portfolio and increase sustainable mobility alternatives for self-employed and SMEs in Kenya.
Eleving Group demonstrates strong performance and announces plans for future external equity raise 
Eleving Group demonstrates strong performance and announces plans for future external equity raise 
In the first quarter of 2024, the Group has recorded EUR 22.0 mln in adjusted EBITDA and EUR 51.8 mln in revenues.