News
Eleving Group reveals its growth projections, targeting nearly double the profit by 2026
Eleving Group, while exploring IPO opportunities in the Baltics and Frankfurt, has disclosed its financial goals for the coming years. According to the projections, the company plans to nearly double its profit in three years.
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
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 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 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
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.