4FINANCE HOLDING S.A. REPORTS RESULTS
FOR THE YEAR ENDING 31 DECEMBER 2024

Strong FY 2024 performance with net profit of €52.5 million and Adjusted EBITDA of €157.1 million 

Robust balance sheet with high cash levels and solid liquidity 

28 February 2025. 4finance Holding S.A. (the ‘Group’ or ‘4finance’), one of Europe’s largest digital consumer lending groups, today announces unaudited consolidated results for the twelve months ending 31 December 2024 (the ‘Period’). 

Operational highlights 

• Online loan issuance volume broadly stable year-on-year at €565.1 million in the Period, compared with €569.5 million in the prior year, reflecting a focus on efficiency and profitability rather than volume growth. Demand for credit remains strong across most markets, particularly in the Czech Republic and Spain. 

• New markets: continuing with deliberate step-by-step approach. Good progress in the UK joint venture (ondal.co.uk) with increased lending volumes since Q3 2024; the Mexican business (kimbi.mx) adapting after initial launch phase. 

• Launch of pilot operations in Georgia in February 2025, further diversifying product offering with auto loans.  

• TBI Bank loan issuance increased by 29% year-on-year to €1,168.2 million in the Period, surpassing the one billion euro annual milestone. 

Financial Highlights 

• Interest income up 15% year-on-year to €444.4 million in the Period, compared with €386.0 million in 2023. 

• Cost to income ratio for the Period was 41.9%, an improvement from 43.4% in the prior year. Cost discipline and operational efficiency remain a focus for the business. 

• Adjusted EBITDA was €157.1 million for the Period, up 20% year-on-year, delivering 35% Adjusted EBITDA margin. The interest coverage ratio as of the date of this report is 2.0x. 

• Net profit for the Period up 19% year-on-year to €52.5 million, compared with €44.1 million in the prior year. 

• Fundamental asset quality indicators at product level remain broadly stable. Group’s net impairment charges of €172.4 million in the Period reflect the larger portfolio. Overall cost of risk at 12.8% for FY 2024, an improvement from 13.8% in the prior year. 

• Net receivables up 21% to €1,315.9 million as of 31 December 2024, compared with €1,084.4 million as at year end 2023. 

• Overall gross NPL ratio at 9.6% as of 31 December 2024 (12.4% for online), compared with 9.4% as of 31 December 2023 (14.2% for online). TBI NPL ratio at 9.2% as of 31 December 2024, compared with 8.6% as of 31 December 2023. 

Liquidity and funding 

• Robust liquidity position, with €79.1 million of cash in the online business at the end of the Period. 

• A put option for EUR 2028 bonds was offered in February 2025 for up to €15 million at par. No valid requests received, so no bonds will be repurchased. 

Kieran Donnelly, CEO of 4finance, commented: 

“The business delivered a strong performance in 2024 with net profit up 19% year-on-year to €53 million and Adjusted EBITDA up 20% year-on-year to €157 million. 

“We have our strongest balance sheet to date, supported by high cash levels and solid liquidity. This puts us in a good position to address our October 2026 bond maturity later this year. 

“As we move forward, we remain focused on cost efficiency and driving sustainable growth.”

 

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