Elana Agrocredit Q3’24 financial statement revealed 7.8% Ytd increase in lease receivables to BGN 65.2m and 2.3% Ytd increase in loans to BGN 14.8m. Cash and equivalents amounted to BGN 14.4m, bringing total assets to BGN 95.1m, +23.1% YtD. Interest income for the quarter was up 36.1% YoY to BGN 1.8m, while taxes, commissions and other revenue brought BGN 261k of revenue (-81.7% YoY, due to sharp drop in sold assets to BGN 85k in Q3‘24). Operating profit increased 37.2% YoY to BGN 1.7m. However, the increased leverage of the company in conjunction with higher interest rates led to 62.8% YoY jump in interest costs to BGN 736k. As a result, net profit for the quarter amounted to BGN 0.9m (+23.0% YoY), which translates into EPS of BGN 0.024. 9m interest income reached BGN 5.2m (+35.7% YoY), while taxes, commissions and other revenue brought BGN 731k of revenue (-77.7% YoY). The drop in the latter is explained by decrease in sold assets (BGN 478k of book value, compared to BGN 2.9m a year ago). Operating profit for the first nine months of the year amounted to BGN 4.8m (+34.5% YoY), while financial expenses more than doubled to BGN 2.1m. Still, net income came in 4.4% YoY higher at BGN 2.4m (EPS of BGN 0.066).