In the first quarter of the 2023/2024 fiscal year, the Kredyt Inkaso Group continued both to increase its operational efficiency and to invest in new debt portfolios. This was done while maintaining a safe level of debt. The Group’s net income stood at PLN 62.6 million (+11% y/y), and cash EBITDA increased to PLN 56.2 million (+19% y/y).
In the first quarter of the 2023/24 fiscal year, Kredyt Inkaso’s net debt-to-equity ratio remained at its current level of 0.89, and net debt-to-cash EBITDA decreased to 1.66 (compared to 1.71 at the end of March 2023). Kredyt Inkaso thus maintained very safe debt levels and is invariably one of the least indebted companies in the debt management sector. Payments from own portfolios amounted to PLN 93.2 million (+17% y/y), while investments in new debt portfolios increased to PLN 85.7 million. The net profit generated by the Group reached PLN 8.7 million.
– As you can see, we are continuing to invest in new portfolios, while at the same time steadily improving the efficiency of payments from those we purchased years ago. This is the path we will follow in the next quarters of the 2023/2024 fiscal year as well. The growth strategy we have adopted is well appreciated by the market, as best evidenced by the interest in recent corporate bond issues – both those of the M1 and N1 series ended up oversubscribed. We still intend to take advantage of the opportunities the market offers us, on the one hand, and, on the other hand, to implement solutions that will enable us to improve our processes and organization, such as through the use of advanced data analytics. Having a solid foundation for further growth, we are also preparing for another, this time autumn issue of our bonds,” says Barbara Rudziks, CEO of Kredyt Inkaso.
– Increasingly better financial results are also the aftermath of the transformation of the Group’s corporate culture. We are committed to making it constructive and oriented towards both the achievement of goals and the style in which we achieve them. The foundations of our organizational culture are cooperation, mutual respect, inclusiveness and open communication. We want to create an organization where everyone has an equal opportunity to grow, and where everyone counts. We see that the measures we have taken are yielding tangible financial results and allowing our team members to spread their wings In the last three years we have recorded a 38% increase in efficiency per employee. At the same time, in the last fiscal year, the level of employee turnover dropped by 30%,” adds Iwona Slomska, vice president of Kredyt Inkaso’s management board.
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.
