Riding on Data for Sustained Growth in a Competitive Environment 

STRATEGIC HIGHLIGHTS 

• Predictive modelling and other data-intense solutions enable personalized loan offering at lower effective annual interest rates and offset the rising interest costs. 

• Number of active customers down 0,8% to 260 thousand (31 Dec. 2024: 262 thousand) with revenue per customer (LTM) up 4,8% to 452 EUR (12M/2024: 432 EUR). 

• Energbank’s increase in revenue and improvement of opex-to-revenue ratio started in Q2 2025 as emerging results of turnaround. 

• Wallet services and digital insurance intermediation growth outpaces the growth of lending business – further acceleration expected. 

• Partial refinancing of around 78 million EUR of Iute Group’s EUR 2021/2026 Bonds 125 million EUR outstanding completed ahead of schedule with successful issue of new Senior Secured EUR 2025/2030 Bonds with a total volume of EUR 140 million. 

OPERATIONAL HIGHLIGHTS 

• Loan payouts increased by 3,0% to 190,2 million EUR (6M/2024: 184,6 million EUR) – the overall focus remained on improved risk management and improved selection of loan customers. 

• Number of loans signed with 184 thousand up 10,1% (6M/2024: 167 thousand). 

• Group cost of risk, expressed as net impairment charges to average gross loan portfolio, decreased to 8,8% (12M 2024: 9,1%), underlying trajectory to improvement of customer quality. 

• Gross loan portfolio at 338,8 million EUR (31 Dec. 2024: 317,6 million EUR), of which principal amount of 315,9 million EUR (31 Dec. 2024: 296,3 million EUR). 

• Non-bank repayment discipline (Customer Performance Index, CPI30) at 87,9% (6M/2024: 86,4%), reflecting improved risk management through implementation of credit risk models, risk-based loan amount and loan duration management. 

FINANCIAL HIGHLIGHTS 

• Interest and commission fee income up 9,2% to 49,3 million EUR (6M/2024: 45,2 million EUR). 

• Net interest and commission fee income up 5,0% to 32,9 million EUR (6M/2024: 31,3 million EUR). 

• Net interest margin (NIM) down to 22,9% (31 Dec. 2024: 25,4%) as a result of decreasing APRs – risk-adjusted net interest margin (NIM) at 14.0% (31 Dec. 2024: 15,3%). 

• Total revenue up 10,9% to 59,5 million EUR (6M/2024: 53,6 million EUR). 

• Adjusted cost-to-revenue ratio 37,7% (6M/2024: 43,8%). 

• EBITDA adjusted for FX and one-off gains (refund of solidarity tax in North Macedonia) up 17,9% to 24,2 million EUR (6M/2024: 20,5 million EUR adjusted for FX). 

• Net profit at 6,7 million EUR compared to 4,1 million EUR. 

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD 

• Fitch confirmed B- (Stable Outlook) Long-Term Issuer Default Rating (IDR) and B- Senior Secured Debt Ratings for Corporate Bonds 2021/2026 and 2025/2030 in July 2025. 

• Significant expansion of insurance offering with the start of partnerships with Allianz and GrECo in Albania. 

• Expansion of digital payment services in Southeast Europe with EMI license in North Macedonia. 

Tallinn, Estonia, 19 August 2025. Iute Group, a leading European personal finance group, reported today unaudited results for 6M/2025. 

“In the first half of 2025, Iute Group achieved clear strategic, operational and financial progress in a challenging environment. With double-digit revenue growth, significantly increased profitability, and a capital structure secured until 2030, we have built a reliable foundation for sustainable value creation. A better aligned team and data-driven decisions have already delivered small miracles — and will continue to serve our customers and further improve profitability. Our consistent digitalization and automation enhance efficiency, unlock new revenue streams, and strengthen our competitiveness. In doing so, we put the capital entrusted to us to productive use — to the benefit of both our investors and our customers,” said Tarmo Sild, CEO of Iute Group. 

The full unaudited report for 6M/2025 is available under www.iute.com/investor/reports-and-presentations. 

Earnings Call: 

CEO Tarmo Sild, CFO Kristel Kurvits, and CRO Tarvo Rahumägi will comment on the unaudited 6M/2025 results by means of a webcast presentation today, 19 August 2025, 10.00 CEST. The webcast/call will be held in English. 

Please register in time to participate in the webcast/call at:
Iute Group – Earnings Call 6M 2025. 

The corresponding presentation will also be available on the Company’s website prior to the earnings webcast/call.