Kredyt Inkaso, one of the leading players in the debt management industry, generated cash EBITDA of PLN 104.9 million in the first half of the 2023/2024 fiscal year, up 18 percent from a year earlier. Net profit rose by as much as 86 percent year-on-year in the period to PLN 28.5 million.
In the first six months of the 2023/2024 fiscal year, the Kredyt Inkaso Group significantly increased outlays for the purchase of debt portfolios, investing PLN 135.7 million in new portfolios, almost 4 times more than in the same period of 2022/2023. Payments from debt portfolios held during the same period rose to PLN 176.7 million (up 13 percent year-on-year).
At the same time, the company successfully secured financing for its further growth by raising more than PLN 85 million through three successful bond issues targeted at individual investors and one issue without a prospectus. Kredyt Inkaso enters the second half of the 2023/2024 fiscal year maintaining safe debt levels – the ratio of net debt to cash EBITDA is 1.90, and to equity is 1.0.
“We are continuously developing the Kredyt Inkaso Group in all our key markets, namely Poland, Romania and Bulgaria. We continue to improve process efficiency, which is evident, among other things, in the increasing level of repayments from our debt portfolios. The very good results of the first half of the year confirm that our team has clearly caught the wind in its sails and is maintaining the Group’s clear growth trend”, says Barbara Rudziks, CEO of Kredyt Inkaso.
“The return to the investment path that we initiated more than a year and a half ago and which we are continuing along with the continuous improvement of operational efficiency is reflected in the income statement of the Kredyt Inkaso Group. The significant increase in supply on the primary and secondary debt market both in Poland and Romania is conducive to our further development plans and allows us to look to the future with optimism”, emphasized Mateusz Boguta, member of the Management Board/CFO Kredyt Inkaso.
Kredyt Inkaso has been listed on the Warsaw Stock Exchange since 2007 and is one of the most active issuers of corporate bonds in Poland. In its history, it has already issued more than 50 series of bonds worth nearly PLN 1.5 billion. Due to strong investor interest in its debt securities and the need to increase the scale of its operations in the coming quarters, the Kredyt Inkaso Group is considering further bond issues in 2024.
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.
