The Polish Group specialized in debt collection e debt purchase of non-performing credits has released its data as of September 30, 2024.
The growth trend continues under the main indicators, which see revenues rise to PLN 2.32 billion, equal to approximately 540.3 million euros (420 million euros in the same period of 2023).
14% increase in recoveries from owned portfolios. PLN 2.6 billion collected for an equivalent in euros of 604.7 million. A positive trend also for cash EBITDA which goes from PLN 1.07 billion in the first three quarters of 2023 to the current PLN 1.29 billion. Translated into euros, the EBITDA for the period of 2024 is expected to be approximately 298.5 million euros. As for the performance of the individual countries where the group is present, the Italian branch is generally the one that records growth percentages on most indicators.
The data on portfolios purchases is different. Although Kruk has been one of the most active operators in debt purchasing in the last two years, the physiological decline in portfolios for sale on the primary financial and banking market, also for the Polish group there is a negative sign in investments of 17% compared to last year. From the data presented by the board, PLN 1.643 billion (379 million euros) was invested in the first 9 months of the year. The largest investments were focused on the Polish market (approximately 123 million euros) and around 128 million euros in Spain. Almost all of the GBV purchased equal to PLN 9.2 billion concerned unsecured asset classes.
To read the full report click here https://en.kruk.eu/media/article/file/presentationofq1-q32024resultsofkrukgroup.pdf
