Latvia · Delayed Price · Currency is EUR IPAS Indexo AS Earnings Call Transcripts
Fiscal Year 2025
-
2025 saw strong revenue growth, major acquisitions, and expansion across banking, pensions, and lending. Despite a group net loss, profitability improved, and synergies from DelfinGroup and VAIRO are set to drive future gains.
-
Indexo will acquire a controlling stake in DelfinGroup, creating a profitable, diversified financial group targeting €30 million profit by 2028. Shareholders can swap, retain, or sell shares, with new capital supporting bank growth and future dividends. DelfinGroup remains listed and maintains its dividend policy.
-
Profitable pension operations and rapid bank customer growth drove strong H1 results, despite ongoing bank losses. Strategic acquisitions of VIRO and DelfinGroup aim to accelerate profitability, expand scale, and unlock synergies.
Fiscal Year 2024
-
Transformational year with strong pension growth, bank launch, and rapid customer acquisition. Pension business turned profitable; bank aims for break-even in Q4 2024, with new products and capital raise planned.
-
Nine-month results show 43% revenue growth in pensions and a record-setting bank launch with over 10,000 customers in the first month. The group remains profitable, but the bank segment posted a EUR 3.9 million loss due to early investments. Regulatory changes and delayed launch present challenges.
-
AUM grew 53% year-over-year to €1.15 billion, with strong pension profitability and revenue up 45%. The new bank launches August 28, 2024, targeting rapid growth and market share, supported by robust IT investment and a large, high-quality customer base.