Almost all funding sources have become more expensive and harder to obtain. In the case of Eleving Group, the decision to participate in the capital markets by placing public and private debt securities (bonds) and the subsequent work in 2021 on the issue of new bonds to attract funding and refinance the previous bonds is of decisive importance today.
Multi-brand fintech company Eleving Group has experienced a successful three-month run, enjoying the strongest financial position to date. The company has increased its nine-month adjusted EBITDA to EUR 53.5 mln and reached a record-high EUR 17.7 mln in adjusted net profit.
Eleving Group's story about the management of international business from Latvia.
According to the consolidated financial report for the period ended on 30 June 2022, international FinTech company Eleving Group has improved results in all key business figures with an exceptional six-month EBITDA that reached EUR 32.3 mln.
Fitch Ratings has affirmed Eleving Group's Long-Term Issuer Default Rating (IDR) and senior secured debt rating at 'B-'. The Outlook on the Long-Term IDR is Stable.
Eleving Group has joined the initiative organized by Delna (Transparency International LATVIA) and CSR Latvia, aimed to reduce the risks of corruption in the Latvian business environment, improve business practices in disclosing information, and implement anti-corruption programs.