Investor, Servicer & Debt Buyer Newsroom NPL - Distressed Asset

Kruk Group Net profit reaches 227 million

The year 2023 ended on a positive note for KRUK Group, which operates in several European countries in credit management. The group reported a net profit of approximately 227 million euros, marking a 22 percent increase over the previous year, and a cash EBITDA of nearly 486 million euros, an increase of 16 percent. These results not only confirm KRUK’s continued growth, but also represent the highest levels achieved in the group’s annual history.

The Italian market remains essential to KRUK’s growth strategy, with the total offering of unsecured SME and corporate retail portfolios exceeding 9 billion euros in 2023. Specifically, KRUK’s market share in the retail unsecured segment in Italy is estimated at 47 percent.

Tomasz Kurr, CEO of KRUK Italy, highlighted the importance of the Italian market for the group, pointing out a 14 percent increase in revenues compared to the previous year and an investment that represents 33 percent of the group’s total, up 67 percent from 2022.

The chairman of the board of directors and chief executive officer of KRUK S.A., Piotr Krupa, expressed great satisfaction with the results achieved, emphasizing the strong link between KRUK’s success and the group’s evolution from a small local company to an international entity with significant market capitalization.

2023 also marked KRUK’s 25th anniversary, an important milestone that coincided with investments in new debt portfolios of nearly 685 million euros, recoveries of more than 698 million euros, and cash EBITDA of about 486 million euros.

At the end of the year, the group’s assets were valued at PLN 9.2 billion (about EUR 2 billion), and over the past nine years, KRUK has distributed PLN 11 billion (about EUR 256 million) in profits to shareholders through dividends and share acquisitions, confirming its commitment to investors and its international outlook, with 74 percent of investments and 56 percent of recoveries made outside Poland.

Headquartered in Wroclaw and listed on the Warsaw Stock Exchange since 2011, KRUK operates through 14 companies in seven countries and employs more than 3,000 people. Today, the group manages a face value of more than 194 billion euros, serving more than 9 million customers.

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Blogger and Investment Management Advisor with focus on Distressed Assets & NPL. Massimo is Chief NPL & Fintech Editor at Credit Village Magazine.

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