After three quarters of the financial year 2021/22, Kredyt Inkaso Group records the highest level of repayments in history, an increase in net revenues by a quarter at the consolidated level, as well as an increase in net profit by over 100%.
Kredyt Inkaso Group summed up the third quarter of the financial year 2021/22 ended on 31 December 2021. This is yet another quarter with a very high level of collections. It amounted to PLN 68.1 million in Q3 alone, whereas from the beginning of the financial year to PLN 210.2 million, which is an increase of 27% compared to the same period of the previous year. The increase in collections from debt portfolios recorded in all three quarters resulted, inter alia, from the good results achieved from the enforcement stream.
High repayment figures translated into very good results in terms of revenues and profit. After three quarters at the consolidated level, net revenues amounted to PLN 161.1 million, which is an increase compared to the financial year 2020/21 by as much as 26%. The described period also recorded a net profit of PLN 41.1 million at the consolidated level. Accordingly, the result achieved in the same period of the previous financial year was improved by as much as 134%. Cash EBITDA after three quarters in Kredyt Inkaso Group amounted to PLN 122.4 million (+ 29% 3Q YTD/YTD). Good financial results also translated into a drop in debt ratios. The debt to equity ratio was 0.97, and the net debt to cash EBITDA was 2.04.
– A significant improvement in operational efficiency allowed Kredyt Inkaso Group in the first three quarters of the financial year 2021/22 to achieve very good financial results. We developed a high level of repayments despite the lack of major investments in new portfolios and high volatility in the markets. This fact is the best evidence of the ever-increasing efficiency of our organisation. The good financial condition of the Company allows us to look forward with optimism and plan activities that will ensure the further, stable development of the entire Group” – said Tomasz Kuciel, Member of the Management Board of Kredyt Inkaso.
Kredyt Inkaso plans to purchase new investment portfolios and further bond issues under the prospectus approved by the Polish Financial Supervision Authority in August 2021. The Company may decide to issue bonds up to a total amount of PLN 150 million. The funds obtained from each series will be used to finance the current operating activities and are aimed at ensuring the further development of the Company.
“The potential of the team and the implementation of new analytical and operational solutions allow us to plan work on portfolios of much higher value than at present. At the same time, we have been constantly improving our processes and optimising costs. Kredyt Inkaso Group is now well prepared to obtain both new financing and further investments” – said Maciej Szymański, President of the Management Board of Kredyt Inkaso.
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.
