Kredyt Inkaso, one of the leaders on the debt management market, strikes higher net profit up by 85% y-o-y from 1 April to 31 December 2023. Its operational transformation has been yielding improved claim recovery rates on the existing debt portfolios. The Company has also announced the upcoming expansion of its operations in the Romanian and Bulgarian markets which are growing and attractive. It is preparing new issues of bonds, as well.
In the nine months of FY 2023/2024, Kredyt Inkaso Group spent significantly more on new debt portfolios – it invested PLN 185.2 million or nearly two times more than in the corresponding period of FY 2022/2023. Recoveries on its debt portfolios increased to PLN 257.8 million (up by 10 % year-on-year).
The Company successfully finances its continued growth by subsequent issues of bonds which investors greatly applaud. The last issue addressed to individual investors was over-subscribed and finally the subscriptions were proportionately reduced by nearly 72 per cent, a record level in the history of all Kredyt Inkaso issues since 2007. As the Company is entering the fourth quarter of its financial year, it enjoys a safe level of debt ratios, including net debt to cash EBITDA at 2.07 and to equity at 1.08. Cash EBITDA was PLN 143.2 million which marked an increase by 10 per cent (y-o-y).
“There has been no slowing down in the growth dynamics for Kredyt Inkaso Group in all the key markets: Poland, Romania and Bulgaria. This has been made possible primarily thanks to the highly committed international teams and our exploitation of new market opportunities. We are also engaged in the continuous process improvement. In the following quarters, we want to follow up with both non-prospectus bonds as well as prospectus-backed bonds addressed to a wide range of investors,” says Barbara Rudziks, CEO of Kredyt Inkaso.
“We are currently finalising the prospectus for the fourth round of bonds worth PLN 120 million. We have been diligent in the implementation of our long-term development plan to significantly scale our business, both domestically and internationally. The rising supply of debt portfolios in Romania is very conducive to our ambitious development plans in this promising market with such growing potential,” adds Mateusz Boguta, member of the board and CFO of Kredyt Inkaso.
Kredyt Inkaso has been listed on the Warsaw Stock Exchange since 2007 and today ranks among the most active issuers of corporate bonds in Poland. It has already issued over 50 series of bonds worth nearly PLN 1.5 billion. Its efforts to scale up the operations and the high response among bond investors have prompted Kredyt Inkaso to prepare further bond issues in the future.
Media contact:
mail: press@kredytinkaso.pl
tel.: +48 882 179 770
The Company
Kredyt Inkaso was established in 2001 as a pioneer of the debt management market in Poland. Ever since it has continuously supported corporations and small businesses in the process of recovering their claims through the close collaboration with banks, lenders, insurers and others players of the consumer market. Kredyt Inkaso offers a wide range of services, from payment dunning, amicable debt solutions, to litigation and debt enforcement officer services.
Kredyt Inkaso shares and bonds have been listed on the Warsaw Stock Exchange since 2007 and it issued more than 50 series of corporate bonds, worth nearly PLN 1.5 billion, with PLN 1.3 billion redeemed to date. In its daily business the Company is guided by the principle that the recovery process should be easy, smart and, above all, ethical, as acknowledged by the Ethical Audit Certificates that are awarded annually by the Association of Financial Enterprises (ZPF) in Poland. The Company also engages in corporate social responsibility and contributes to a number of educational and community projects.
