Indexo Group Projects Strong growth Following Potential Delfingroup Acquisition
Indexo Financial Services, encompassing IPAS Indexo (Pension Administration), AS indexo open Pension Fund, and AS Indexo Bank, is preparing a voluntary share offer to the shareholders of AS Delfingroup. The group has released a financial forecast outlining anticipated performance should the acquisition – targeting 65% ownership of Delfingroup – be successfully completed.
The forecast projects significant growth for the combined entity, which would integrate banks, pension management, and consumer lending services. Indexo anticipates exceeding EUR 30 million in profit by 2028, driven by a gradual reduction in external funding costs. Revenue is projected to reach EUR 94.9 million, with a net profit of EUR 33 million in the same year.
These projections are based on individual growth forecasts for each company within the Indexo Group. Importantly, the forecast does not currently include potential synergies resulting from the integration, meaning actual financial benefits could be even greater. Further potential for growth exists within Indexo Bank through expansion into new customer segments and service offerings.
According to henrik Karmo, Chairman of the Board of IPAS Indexo and a founder of Indexo, the combination with Delfingroup will create a stronger financial force in Latvia. He highlights benefits including reduced funding costs and cross-selling opportunities between group companies. The combined group would serve hundreds of thousands of customers, manage a loan portfolio exceeding EUR 700 million, and hold over EUR 2 billion in assets.
Karmo encourages Delfingroup shareholders to consider the offer and participate in the potential benefits of the newly formed group.
A summary of the Indexo Group’s financial forecast for the coming years is available here.
It is indeed vital to note that this forecast is based on current assumptions and is subject to change based on market conditions and strategic adjustments. actual performance may differ from these projections.
