EQS-News: LHV Bank increases target price for Eleving Group’s shares

Eleving Group announces that LHV Bank released an independent Results Review report on February 28, 2025. The report provides a comprehensive analysis of the Group’s Q4 2024 performance and raises the target share price to EUR 2.35.

LHV Bank has revised its target share price for Eleving Group to EUR 2.35 with a “Buy” indication, reflecting an upward adjustment in its growth estimates. Based on updated projections, the new target price implies a 7.1x 2025E P/E ratio, which aligns with the valuation of Eleving’s consumer finance peers, who currently trade at approximately 7x forward earnings. The valuation places Eleving Group’s fair equity value at EUR 275 million.

About Eleving Group

Eleving Group has driven innovation in financial technology around the world since its foundation in Latvia in 2012. As of today, the Group operates in 16 markets and 3 continents, encouraging financial inclusion and upward social mobility in underserved communities around the globe. Eleving Group has developed a multi-brand portfolio for its vehicle and consumer finance business lines, with around 2/3 of the portfolio comprising secured vehicle loans and mobility products, with Mogo as the leading brand, and around 1/3 of the portfolio including unsecured consumer finance products. Currently, 53% of the group's loan portfolio is located in Europe, 34% in Africa, and 13% in the rest of the world.

The Group's historical customer base exceeds 1.3 mln customers worldwide, while the total volume of loans issued has reached EUR 2.0 bln. With headquarters in Latvia, Lithuania, and Estonia and a governance structure in Luxembourg, the Group ensures efficient and transparent business management, powered at the operational level by over 2790 employees. For two consecutive years, the Group was listed among Europe’s 1000 fastest-growing companies published by the Financial Times in 2020 and 2021, while in 2024, Eleving Group was ranked as the 41st fastest-growing European company in the last decade in 'Europe's Long-Term Growth Champions 2024' research by Financial Times and Statista.

Read more: www.eleving.com

More information

Edgars Rauza, Investor Relations Manager
Email: edgars.rauza@eleving.com

Disclaimer

The report is prepared for informational purposes only and does not constitute a recommendation to buy or sell shares. Investors are advised to make their own investment decisions based on individual circumstances or consult with financial advisors.