DGAP-News: Mogo Finance S.A. / Key word(s): Half Year Results/Half Year Results 
2021-08-06 / 13:50 
The issuer is solely responsible for the content of this announcement. 
Record profitability driven by the historically highest loan issuances and consistent financial performance 
  . Record-breaking performance in Q2 2021 driven by significant loan issuance volume (EUR 77 million in Q2 2021) and 
    strong q-o-q portfolio growth by 4.9% to EUR 211.5 million. 
  . Strong demand for personal mobility was observed in all the vehicle finance active markets[1] resulting in an 
    average loan ticket for a car increasing by 4% q-o-q. Also, the number of car loan applications increased by 12.6% 
  . Historically the highest consolidated vehicle finance issuances with record-high numbers of disbursed loans in 
    Romania, Uganda, and Kenya, where motorcycle financing continued its successful run focusing on productive lending, 
    for example, financing taxi drivers, thus creating jobs. 
  . Premium car financing solution Primero[2] showed strong growth and development in Latvia. Also, as product brand, 
    Primero was launched in Moldova focusing on premium car segment. 
  . Sales agreements were signed for on-hold markets of Albania and Bulgaria with regulatory approvals still pending. 
  . Stabilized sales have been achieved following the Covid-19 related slowdown in the Group's consumer finance markets 
    [3] with historically highest issuances in North Macedonia. Also, continued strengthening of both - online and 
    offline - sales channels to foster financial inclusion and client service quality. 
  . Being a responsible citizen of the international business community, Eleving Group continued to implement its 
    corporate strategy, including: 
  . implementation of vaccination motivation program and hybrid work model in the group's HQ; 
  . launch of a new corporate website; 
  . first group-wide non-financial statements for 2020 and several social initiatives, focusing on helping vulnerable 
  . Record profitability characterized by: 
  . record-high six months EBITDA of EUR 28.2 million (6M 2020: EUR 15 million) and normalized EBITDA[4] of EUR 31.1 
  . Net Profit before forex of EUR 7.6 million (6M 2020: EUR 0.3 million) and normalized^4 - EUR 10.5 million; 
  . Net Profit after forex of EUR 7.8 million (6M 2020: EUR 3.8 million loss) and normalized^4 - EUR 10.7 million. 
  . Record-high product portfolio of EUR 211.5 million; an EUR 11.3 million increase q-o-q, of which vehicle finance 
    accounted for EUR 8.5 million and consumer finance - EUR 2.8 million. 
  . Strongest-ever capitalization ratio (24.2%) resulting in a growth of 9.6% or EUR 4.2 million q-o-q. 
  . Receivable from the sale of Longo Group further decreased by EUR 5 million and now stands at EUR 2.9 million (Q1 
    2021: EUR 7.9 million). 
  . Based on strong financial results and general resilience of capital markets, the Group is considering a range of 
    Eurobond refinance opportunities during the second half of 2021. 
Modestas Sudnius, CEO of Eleving Group, commented: "Eleving Group has produced sturdy performance in the first half of 
2021, boosted by the Group's strategic focus on its existing markets and leaner organizational structure. The strong 
performance of the Group was driven by a record-high consolidated loan issuance volume, in particular, by record-high 
numbers of disbursed vehicle loans in Romania, Uganda, and Kenya and consumer loans in North-Macedonia. 
The used car market became increasingly active during the pandemic, and our industry know-how allowed us to react 
swiftly to the growing demand for safer, more cost-efficient personal mobility. The growing demand for personal vehicle 
across all of the Group's markets increased both the average size of a Mogo loan (up by 4% q-o-q) and the number of 
applications for car loans (up by nearly 13% q-o-q). 
During the first six months of 2021, we also focused on our corporate identity and took steps to boost the Group's new 
brand awareness across the international business community - we launched our new website and strengthened our ESG 
approach. To pursue our ESG goals, we published the first group-wide non-financial statements and launched several 
social initiatives, for example, an e-signature solution in Romania and a motorcycle riding school for women in Kenya. 
To encourage strong employee engagement in building business resilience and innovation culture, we have launched a 
vaccination motivation program and hybrid work model in the Group's headquarters, including flexible working mode and 
engagement culture. 
While headed towards the best financial year in the Group's history, Eleving Group will pursue gradual growth in the 
next quarters, maintaining a keen focus on sustainable business development. " 
Maris Kreics, CFO of Mogo Finance: "The record profitability achieved in the first half of 2021 provides conclusive 
proof that the revised strategy has largely been implemented as intended and is bearing fruit. The core profitability 
evidenced by the highest ever quarterly EBITDA with more than a 50% year-over-year increase and record-high portfolio 
of EUR 211.5 million, contribution to which was made by both of our business lines - vehicle and consumer financing. 
The Group's consistent financial performance is reflected in the strongest equity position in the Group's history - 
total equity in the first six months of 2021 grew by 39.1%, reaching total equity of EUR 48 million at the end of the 
first half of 2021. 
Also, our funding position has remained strong, with continuously decreasing costs of capital on the Mintos 
peer-to-peer marketplace (weighted average funding rate for the whole portfolio funded through Mintos is below 10%) and 
our Eurobond and Latvian bond secondary market prices are trading comfortably above par. 
The Group's bonds will mature in the second half of 2022, and we plan to evaluate a range of refinancing options during 
the second half of 2021. " 
The full unaudited report for the six months ended 30 June 2021 is available under: https://eleving.com/investors/ 
  Conference Call: A conference call in English with the Group's management team to discuss the results is scheduled 
for 10 August 2021 at 15:00 CET. 
Please register: http://emea.directeventreg.com/registration/2934356 
  Contact: Eleving Group 
Maris Kreics, Chief Financial Officer (CFO) 
Email: [email protected] 
About Eleving Group 
Eleving Group comprises a number of financial technology companies with a global presence. The Group operates in the 
vehicle and consumer finance segments in 3 continents, providing financial inclusion and disruptively changing 
financial services industries in its countries of operation. Founded in 2012 as Mogo in Latvia, the Group has 
revolutionized the way people purchase cars. Having expanded all across the Baltics within its first year in business, 
the Group continued expansion in the following years, servicing a total of 14 active markets. 
With its headquarters in Latvia, the Group operates in the Baltics, Central, Eastern, and South-Eastern Europe, 
Caucasus, Central Asia, and Eastern Africa. 
For two consecutive years since 2020, the Group has appeared on the Financial Times list of Europe's 1000 fastest 
growing companies. 
Read more: www.eleving.com   IMPORTANT INFORMATION The information contained herein is not for release, publication, or 
distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, 
Japan, New Zealand, South Africa or any other countries or otherwise in such circumstances in which the release, 
publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or 
the solicitation of an offer to buy, nor shall there be any sale of, the bonds in any jurisdiction in which such offer, 
solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the 
securities laws of any such jurisdiction. Persons into whose possession this announcement may come are required to 
inform themselves of and observe all such restrictions. 
This announcement does not constitute an offer of securities for sale in the United States. The bonds have not been and 
will not be registered under the Securities Act or under the applicable securities laws of any state of the United 
States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or 
benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the 
registration requirements of the Securities Act. 
This announcement does not constitute a prospectus for the purposes of Directive 2003/71/EC, as amended (the 
"Prospectus Directive") and does not constitute a public offer of securities in any member state of the European 
Economic Area (the "EEA"). 
This announcement does not constitute an offer of bonds to the public in the United Kingdom. No prospectus has been or 
will be approved in the United Kingdom in respect of the bonds. Accordingly, this announcement is not being distributed 
to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a 
financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom 
or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial 
Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be 

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