Creating Value Through Integration
As many as 97.13 percent of Kredyt Inkaso S.A. shareholders present at the Extraordinary General Meeting approved the merger with BEST S.A. The decision comes as one of the final stages in the process of amalgamating the two listed companies. It will help create a robust group on the European debt market.
As the next step, the merger with BEST S.A. will involve filing the application to suspend trading in shares and to delist corporate shares. In exchange for their shares in the company, existing shareholders will receive the stock of BEST S.A. Waterland; as the dominant shareholder, Kredyt Inkaso will hold a significant number of stocks in the merged entity.
– This is a historic moment. The road to the merger began in 2015 when Best acquired a minority stake in Kredyt Inkaso, and now we have just reached the final destination. The agreement struck between the two largest shareholders comes as a culmination of the strategic option review: a cross-cutting, complex and challenging process. As a result, a new entity is created, with significantly greater investment opportunities and chances to reach a number of operational synergies– says Barbara Rudziks, the CEO of Kredyt Inkaso.
– Since 2016, our asset value and revenue potential have increased considerably while the debt ratios have been kept at conservative levels. Over the past eight years (2016-2024), the company collected a total of almost PLN 2.2 billion in receivables – three times the amount recovered between 2001 and 2016, corresponding to PLN 694 million – admits Maciej Szymański, Vice-President of the Board of Kredyt Inkaso.
– In the last financial year, payments from debtors reached a record level. In late 2024, the ERC value, i.e. the expected remaining collections from purchased debts, was already over PLN 1,600 million, with PLN 877 million in 2016. The last eight years have been a time of on-going transition and boost of operational efficiency. During this period, collections per FTE increased by 152%, with staff levels being reduced at the same time – affirms Mateusz Boguta, CFO, Board Member of Kredyt Inkaso.
– Our business in key markets has grown in size thanks to the successful transition of the Group – in terms of operations, technology and culture – and the commitment of our teams. Today, we are a totally different organization from what we were a few years ago, an equal partner to merge with – adds Iwona Słomska, Vice-President of the Board of Kredyt Inkaso.
Historically speaking, the specialty of Kredyt Inkaso Group was to manage collections in the telecommunications sector. In recent years, the Group has also invested in retail banking and consumer finance receivables. Listed on the Warsaw Stock Exchange, the company has successfully expanded into growth-potential and attractive foreign markets (Romania, Bulgaria). It has consistently implemented novel management methods and a range of innovative robotization and advanced data analytics solutions, which translated into process improvement and a significant increase in collection value per FTE.
By keeping its debt ratios at safe levels, Kredyt Inkaso has managed to significantly improve its operational efficiency and build value for its shareholders as a result. In the last financial year, the company reported record-braking payments levels under its receivables portfolios.
Kredyt Inkaso
Press contact:
mail: press@kredytinkaso.pl
phone: +48 882 179 77
