DLL, a global provider of asset-based financial solutions, announced a net profit of €438 million for 2023, indicating a significant 27.7% increase compared to the previous year.

This growth is noteworthy, especially considering the divestment of DLL’s Russian operations, which impacted the 2022 results. In December 2022, the Kremlin implemented fresh regulations mandating that companies wishing to exit Russia must undergo asset valuation by the government and sell at a 50% discount. Under President Vladimir Putin’s administration, Russia heightened oversight over divestment activities with businesses obligated to carry out these transactions using Russian rubles.

Furthermore, DLL‘s portfolio balance expanded by 9.2% year-on-year, reaching €44.3 billion, underscoring the company’s ability to maintain a robust asset base despite challenges. Despite external pressures, DLL’s underlying financial performance remained positive, with net income totalling €1.8 billion, reflecting a 3.5% increase over 2022.

Mike Janse, Chief Operating Officer and interim Chief Executive Officer, at DLL said: “In 2023, business was impacted by continued geopolitical challenges, macroeconomic instability, a scarce labour market and significant increases in market interest rates.” 

Grégory Raison, Chief Financial Officer, said: “We posted a strong net profit, thanks to our portfolio growing and net income rising. All of our regions and global business units grew their portfolio relative to 2022.” 

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