Kredyt Inkaso Group is closing the 2022/23 fiscal year with record repayments from acquired portfolios and revenues of PLN 219 million. The Group’s revenues were 10% higher than a year earlier. The high repayments recorded in both litigation and amicable processes helped generate a net profit of PLN 23 million and contributed to a decline in debt ratios.
The Kredyt Inkaso Group – one of the leaders of the debt management industry in Poland – ended the year with a record level of repayments from managed portfolios of PLN 317.5 million (up 14% y/y). In 2022/2023. The Group recorded a high rate of repayments from portfolios acquired to date and returned to investing in new debt portfolios. In the 2022/2023 fiscal year, which ended March 31, 2023, the Kredyt Inkaso Group concluded transactions for the purchase of debt portfolios amounting to almost PLN 120 million. The completed transactions significantly exceeded the scale of investments from the previous three fiscal years combined.
In the reported period, cash EBITDA increased by 7% compared to last year and amounted to PLN 168.9 million, while the net debt to cash EBITDA ratio dropped to 1.71 and is at a level significantly below the adopted limits. The net debt to equity ratio was also reduced to 0.89.
– The very good operating results we achieved in 2022/2023 allow us to further increase the scale of our business. Importantly, this is done with steadily increasing operating efficiency and profitability. In the current fiscal year, we will continue to intensify the development of the Kredyt Inkaso Group in our three key markets, namely Poland, Romania and Bulgaria. We also continue the process of continuous improvement and investment in modern technologies – emphasizes Barbara Rudziks, CEO of Kredyt Inkaso.
– The Kredyt Inkaso Group is prepared for further significant outlays on purchases of new debt portfolios. In recent weeks, we finalized a transaction for the purchase from Credit Agricole Bank Polska of receivables with a nominal value of over PLN 123 million. In the coming quarters, we expect an increase in the supply of portfolios on the market and we are ready for it – adds Mateusz Boguta, member of the management board/CFO of Kredyt Inkaso.
In February 2023 The Financial Supervision Authority approved the prospectus for the company’s bond issuance program. Under it, Kredyt Inkaso will be able to issue corporate bonds up to a total of PLN 100 million. The reduction in subscriptions for M1-series debt securities amounted to 11%, and N1-series by as much as over 38%. In view of the great interest of investors in its securities and further needs for further business development, Kredyt Inkaso is considering another corporate bond issue in the post-holiday period.
Media contact:
e-mail: press@kredytinkaso.pl
phone: +48 882 179 770
About Kredyt Inkaso
Kredyt Inkaso was established in 2001 as a pioneer in the Polish debt management market. Since then, it has been supporting companies and entrepreneurs in the process of recovering debts, 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 litigation and enforcement processes.
Kredyt Inkaso’s shares and bonds have been listed on the Stock Exchange since 2007; since that year, the Kredyt Inkaso Group has already issued 49 bond series worth PLN 1.47 billion, of which PLN 1.27 billion has already been redeemed. In its activity, the company follows the principle that the process of recovering debts should be as easy as possible, intelligent, but above all ethical – which is confirmed by the Ethical Audit Certificates awarded annually by the Association of Financial Enterprises in Poland. The company also pays attention to issues related to corporate social responsibility and therefore engages in educational or pro-social projects, among others.
