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Resilient H1 2026 performance, with Adjusted EBITDA of €24.5 million and 27% Adjusted EBITDA margin
31 August 2026. Mellenu Holding S.A. (the ‘Group’ or ‘Mellenu’), one of Europe’s largest digital consumer lending groups, today announces unaudited consolidated results for the six months ending 30 June 2026 (the ‘Period’). Unless otherwise stated, financials and key metrics in this report are presented on a proforma basis to provide a comparable view of the Group’s performance.
· Mellenu Holding S.A. became the new parent company of the Group in May 2026.
· Management-led buyout and shareholder restructuring announced earlier is progressing.
· Online loan issuance totalled €228.5million for the Period (H1 2025: €256.7 million), reflecting the Group’s continued focus on disciplined lending and operational efficiency.
· Positive momentum in Georgia contributed to the Group’s growth, while early-stage operations in South Arica and Uzbekistan continued to progress. The UK JV supported the Group’s future growth strategy and demonstrated further operational development during the Period.
· The Group continued to develop selected growth opportunities beyond its core markets through a disciplined and measured investment approach.
· Adjusted EBITDA for the Period amounted to €24.5 million, an increase of 2%, with an Adjusted EBITDA margin of 27%. The interest coverage ratio as of the date of this report is 3.5x.
· Group’s net profit from continuing operations increased 8% year-on-year to €6.2 million in the Period, compared with €5.8 million in the prior year period.
· Interest income amounted to €83.0 million in the Period, compared with €93.4 million in the prior year period.
· Net impairment charges of €33.8 million in the Period decreased by 15% year-on-year, reflecting improved credit and portfolio quality.
· Net receivables amounted to €138.9 million as of 30 June 2026, compared with €150.6 million as of 31 December 2025.
· Gross NPL ratio slightly improved to 10.8% as of 30 June 2026, indicating stable asset quality.
· EUR 2026 bonds fully redeemed in April 2026, leaving a single remaining bond maturing in May 2028.
· Liquidity remained robust, with €81.6 million of cash at the end of the Period.
Nick Philpott, CEO of Mellenu, commented:
“H1 2026 was an important period for the Group, marked by Mellenu Holding S.A. becoming the new parent company and progress on the management-led buyout announced earlier this year. The underlying business remained resilient, supported by a focus on profitability ,operational efficiency and portfolio quality.
“The early redemption of the EUR 2026bonds in April simplified our capital structure. We remain focused on disciplined and sustainable growth, with Georgia continuing to scale and the UK joint venture remaining an important part of the Group’s future growth strategy.”
