Kredyt Inkaso published a consolidated and separate financial report for Q1 of the financial year 2021/2022. The Company, for the first time in its 20-year history, exceeded the limit of PLN 70 million from collections in a single quarter. The Company also generated very good results and net revenues of PLN 46.4 million at the consolidated level.
Kredyt Inkaso Group, one of the leading Polish entities in the debt management industry, achieved record-breaking results in Q1 of the financial year 2021/2022, covering the period from 1 April 2021 to 30 June 2021. Despite the difficult pandemic period, the Group recorded a 33% increase in repayments, which reached a record value of PLN 70.8 million, compared to PLN 53.4 million in the same period of the previous year.
The Group achieved net revenues of PLN 46.4 million, cash EBITDA was PLN 44 million, and net profit was PLN 6.5 million. For comparison purposes, in the previous financial year 2020/2021, revenues in Q1 amounted to PLN 37 million, and the net profit was PLN 3.2 million.
“Last quarter was record-breaking in terms of collections in the history of the Company. However, this is not a surprise to us, as the good results reflect the strategy we pursue consistently. We laid our focus on improving operational efficiency” – says Barbara Rudziks, vice president of the management board responsible for operational management. “We are ready to accept new portfolios today. Not only do we want to continue this upward trend in Kredyt Inkaso in the near term, but also in the long term.
“The Company acquired many experienced experts in the debt management industry, and it is thanks to the synergy of competences accompanied by close cooperation with a long-term team that we are becoming an increasingly effective organisation. This supports the achievement of our business goals, and it is increasingly evident that progress, both in terms of results as well as development, is being made” – said Maciej Szymański, President of the Management Board of Kredyt Inkaso.
It is worthwhile to add that Kredyt Inkaso Group closed the financial year 2020/2021 with net revenues totalling PLN 200.3 million, and this result represented an increase of 55% compared to the previous year. Net profit, in turn, was at the consolidated level of PLN 45.5 million. At present, Kredyt Inkaso is also preparing to issue bonds. 26 August this year saw the Polish Financial Supervision Authority approving the prospectus under which prospectus issues of public bonds up to the total amount of PLN 150 million may be conducted. The first issue is planned for autumn this year. 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.
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.
