Kredyt Inkaso Group can once again boast of record-breaking results. In the published financial report for Q1 of the financial year 2022/23 (in the case of Kredyt Inkaso for the period from 1 April to 30 June 2022), the Group’s net revenues amounted to PLN 56.5 million (+22% y/y), and cash EBITDA – PLN 47.4 million (+9% y/y). For comparison purposes, in Q1 2021, these values were PLN 46.4 million and PLN 43.5 million, respectively. In the described quarter, the net profit amounted to PLN 14.7 million, and this was an increase of 125% compared to the same period of the previous year. The good results were accompanied by a significant reduction in the level of debt. The net debt to equity ratio was reduced to 0.8, and the net debt to cash EBITDA ratio to 1.6.
“Kredyt Inkaso improved its own record, and this makes us particularly proud of. The excellent financial results were caused by our consistent development strategy” – says Barbara Rudziks, Vice President of the Management Board of Kredyt Inkaso SA. “In each of the key areas, such as net revenues, net profit, and above all the level of collections, we achieved a significant improvement compared to the same period of the previous year.”
It is worthwhile to mention that the improvement in results was achieved in relation to the very good Q1 of the financial year 2021/2022. Kredyt Inkaso Group for the first time in its history broke the threshold of PLN 70 million in collections in a single quarter. This result was improved by nearly PLN 10 million in the summarised period, and the total level of collections amounted to PLN 79.6 million.
“We are pleased with the excellent results of the Group, especially since we still generate them with relatively low levels of investment.” – says Maciej Szymański, President of the Management Board of Kredyt Inkaso SA. “Not long ago, we concluded an agreement with ING Bank Śląski, thanks to which the limit of the available credit line was increased to PLN 200 million. Recently, we have also refinanced debt totalling PLN 159 million and extended its maturity for the next 7 years, as well as issued new bonds totalling PLN 33 million. Thanks to the available financing, low debt levels, as well as effective organisation, we can return to purchasing new debt portfolios on a significantly larger scale than in recent quarters and continue to strengthen the foundations for even faster development in the future.
About Kredyt Inkaso
Kredyt Inkaso was established in 2001 as a pioneer on the Polish market of debt management. Ever since, it has been constantly supporting companies and entrepreneurs in the recovery process, cooperating with banks, lenders, insurers and other entities from the consumer market. Kredyt Inkaso offers a wide range of services: from payment monitoring, through amicable collection, to court and enforcement processes.
Since 2007, Kredyt Inkaso has been present on the Warsaw Stock Exchange, and in 2018 it conducted the first public issue of bonds. In its activity, the Company follows the principle that the process of debt collection should be as easy and intelligent as possible, but first of all, it should be ethical – which is confirmed by Ethical Audit Certificates awarded annually by the Association of Financial Enterprises in Poland. The Company also pays attention to the issues related to corporate social responsibility and therefore is involved in educational or pro-social undertakings, among others.
