The estimate amount of payments from debtors on account of servicing the portfolios acquired by the Kredyt Inkaso group in Q1-Q3 of the 2018/2019 financial year (April 2018 – December 2018) totaled PLN 172 million, up by 29 percent yoy. Only in Q1 of the 2018/19 financial year, this figure stood at PLN 61 million, which also represents a 29 percent growth compared to the corresponding period of the previous year.
„We consistently implement our strategy, founded on increasing the efficiency of the acquired debt portfolios, thanks to improving operational collection processes, advanced data analysis and IT. We temporarily curtailed investments in connection with upcoming repayments of series Y, A1 and A2 bonds, but ultimately we plan to continue the existing conservative business policy, selectively choosing the investments while maintaining the desired rate of return” – comments Maciej Szymański, President of Kredyt Inkaso’s Management Board.
The estimates regarding the amount of payments from debtors in Q1-Q3 of the 2018/2019 financial year (April 2018 – December 2018) have not been audited.
Kredyt Inkaso systematically increases the scale of business and improves financial results. In H1 of this financial year (April 2018 – September 2018), the group generated net revenues in the amount of PLN 90 million, 40 percent more year-over-year, and net profit of PLN 24 million, up 125 percent year-over-year. Cash EBITDA for the 6 months ended 30 September 2018 amounted to PLN 80 million, up by 33 percent year-over-year.
Kredyt Inkaso continues to be a solid and stable partner for investors investing in the company’s bonds. Throughout its history the company has placed 41 series of debt securities with the total par value of PLN 1.022 billion. All maturing bond series have been redeemed on time together with interest. The latest redemption of bonds together with interest took place in accordance with the schedule in October 2018, when the company repaid all of its remaining series X bonds with the total par value of PLN 47.8 million (in August 2018 the company redeemed prematurely some of series X bonds with the value of PLN 21.2 million). Consequently, all liabilities resulting from series X bonds with the par value of PLN 69.0 million have been repaid. In October 2018, the company also acquired in the secondary market some of series C1 bonds for PLN 3.3 million to redeem them.
Kredyt Inkaso intends to continue its financing diversification policy, concentrating in the nearest future on private bond issues and bank financing.
