Eleving Group has announced unaudited results for Q1, 2023. The company has provided the following operational and financial information: The company recorded steady financial performance during the first quarter, with a net portfolio reaching €290.3M. The company reports they maintain robust profitability and a stable portfolio.

The company continued diversifying its business operations and maintaining a balanced revenue stream from all three core business lines. Flexible lease and subscription-based products contributed €12.7M to Q1 2023 revenues, up by 19.5% compared to the first three months of 2022, but down by 5% quarter-on-quarter. Traditional lease and leaseback products contributed €17M to the revenues, up by 12.4% compared to the first quarter of 2022 and up by 2.1% quarter-on-quarter. Revenues from the consumer loan segment contributed €13.2M to the Q1 2023 revenues, down by 26% compared to the respective reporting period of 2022, but stable on a quarter-on-quarter basis.

The company’s earnings before interest, taxes, depreciation, and amortization in the respective period reached €18.9M, compared to 16.4M a year ago. The adjusted net profit before FX amounted to €7.3M, an increase of €1.4M compared to the first quarter of 2022.