Eleving Group Projects Doubling Profits by 2026

Eleving Group, a global multi-brand fintech company based in the Baltics, has unveiled its ambitious financial targets for the next three years. The firm aims to nearly double its profit by 2026, having closed 2023 with a EUR 29.5 million net profit before FX. The management projects a net profit of EUR 33 million in 2024, EUR 44 million in 2025, and EUR 54 million in 2026.

The company also plans to expand its net loan portfolio to EUR 520 million, a 62.5% increase from the EUR 320 million reported in 2023. Sales revenues are anticipated to grow from EUR 189 million to EUR 315 million.

CEO Modestas Sudnius emphasized the focus on entering new markets and introducing customer-centric products, particularly for SMEs, to sustain a 20% annual growth rate. This approach is expected to enhance efficiency and profitability, as revenue growth will outpace costs.

Eleving Group has introduced a dividend policy, paying dividends twice a year with a long-term payout ratio above 50%.