The first half of the 2022/23 financial year saw the Kredyt Inkaso Group making a record-breaking level of deposits totalling PLN 156 million. The Group is planning new investments in Poland, Romania, and Bulgaria as well as a significant increase in the scale of its operations.
Kredyt Inkaso Group published the financial statements covering the first half of the financial year 2022/23, falling from 1 April to 30 September 2022. During this period, Kredyt Inkaso recorded at the consolidated level the highest level of repayments from debt portfolios in the history of the Group, amounting to PLN 155.8 million. This result represents an increase of 10% compared to the same period of the previous year. At the end of the first half of the year, the Group recorded an increase in cash EBITDA by 6% to PLN 88.9 million. These very good repayment figures allowed for generating consolidated revenues of PLN 103.0 million and a net profit of PLN 15.3 million.
“The merits for the excellent financial results achieved in the first half of the financial year should be contributed to the entire international team of Kredyt Inkaso. The ever-increasing efficiency of the entire organisation rendered it possible for us to achieve a much higher level of deposits than we originally expected. We have been implementing innovative solutions in the field of process automation, self-service of debtors, and data analytics. All this rolled into one, together with the reconstruction of processes in accordance with the Lean methodology and the development of a new organisational culture, is reflected in the results achieved by the entire Kredyt Inkaso Group.”, said Barbara Rudziks, President of the Management Board of Kredyt Inkaso.
The first half of the 2022/23 financial year also witnessed Kredyt Inkaso leading to a further reduction in debt ratios, well below the adopted limits. The net debt to equity ratio at the end of the first half of the year was 0.83, and the net debt to cash EBITDA ratio was 1.66. In the described period, the Group purchased new debt portfolios worth PLN 34.6 million, and at the end of the second quarter of the financial year it estimates the total value of future collections from debt portfolios held (Estimated Remaining Collections) at PLN 1.07 billion.
“Thanks to the reconstruction of the structure of timely financing and stable cash generation, the Group is now well prepared for the execution of new, ambitious investments in Poland, Romania, and ultimately also in Bulgaria. This situation allows us to think about a significant increase in the scale of operations while maintaining profitability and keeping a safe level of debt and a high level of operational efficiency.”, said Mateusz Boguta, member of the Management Board of Kredyt Inkaso responsible for finance.
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.
