UAB Legal Balance (hereinafter – Company), company code 302528679, address Žalgirio g. 90, LT-09303, Vilnius, Lithuania, submits consolidated annual financial statements for 2022 of the Company and its subsidiaries: SIA Legal Balance, company code 40203125480, address Bērzaunes iela 1, Riga, Latvia, and UAB Legal balance invest, company code 306113214, address Žalgirio g. 90-100, Vilnius, Lithuania (hereinafter - Group). Financial statements are submitted together with the independent auditor's report and the annual report for 2022. In 2022, the Group earned EUR 6.62 million in revenue, which is 60% more than in 2021, when the Group earned EUR 4.13 million in revenue. This was mainly due to increased investments in the purchase of debt portfolios - EUR 7.07 million were invested during the reporting period, and EUR 7.37 million were recovered from debt portfolios managed by the Group. In 2022 operating expenses (cost, selling and general expenses) compared to the operating expenses of the previous financial year increased by 35%. The increase in costs is directly related to the growth of activity volumes - as the managed debt portfolio increases, so does the number of employees, legal expenses, and general costs. In 2022, the Group's net profit amounted to EUR 2.1 million and was EUR 1.36 million higher than in the same period of 2021 (31.12.2021: EUR 779 thousand).
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