In the first quarter of 2025, the Group continued to demonstrate stable financial performance, with revenue amounting to €70.2m (unchanged vs 3M 2024) and EBITDA reaching €27.8m, delivering a 39.6% margin. The net loan portfolio stood at €170.5m, representing a 2.5% decline vs 3M 2024, but slightly up from €170.3m at the end of FY’24.
In March, for the fifth consecutive year, Sun Finance was recognised by The Financial Times as one of the Fastest Growing European Companies. In 2021, the Group ranked the fastest growing fintech company in Europe, while in 2022, it secured the 3rd position. Since then, the Group has been repeatedly included in the FT1000 Fastest Growing European companies list, with 2025 being no exception.
For the first time ever, the Baltic Fintech Awards ceremony was held as part of the Baltic Fintech Days conference in April. The event celebrated the achievements of industry leaders and innovators who have contributed to the advancement of the region’s fintech sector. In recognition of its ongoing global growth, Sun Finance was honoured with the main award — Company of the Year.
In early May, shortly after the reporting period end, the Group marked another major milestone - €4 billion in total loans issued since its inception.
Financing
At the end of February, the Group’s 3.5-year senior unsecured bonds (LV0000803187), with a fixed annual coupon rate of 11% and maturity in November 2027, were admitted to trading on the Nasdaq First North market.
To refinance the 3-year €50 million bond (LV0000860112) with the maturity date of 30 September 2025, the Group registered a new 3.5-year corporate bond on 7 April 2025, with an issue size of up to EUR 50 million. The new bond, maturing in September 2028, has been organized as a private placement with a fixed annual coupon rate of 10%, paid monthly.
At the end of April, the right of early redemption for the €50 million bond (LV0000860112) was exercised, and the bond was fully redeemed ahead of schedule.
About Sun Finance Group and Sun Finance Treasury Limited
Sun Finance Treasury Limited is subsidiary of Sun Finance Group, AS. Sun Finance is a financial technology company established in Riga, in 2017, by CEO Toms Jurjevs and co-founder Emīls Latkovskis. Sun Finance operates as an online consumer financing platform in nine countries across four continents, with headquarters in Riga, Latvia. Sun Finance has more than 25.9 million registered customers and employs around 1,100 people, 180 of whom work at the headquarters in Riga. The company is led by a team of seasoned professionals with more than 15 years of experience in managing FinTech, financial and IT companies.