B2Holding, owner of Debt Collection Agency EAD (DCA), had total revenues of NOK 852 million in the fourth quarter, up 📈 4 per cent from the same quarter last year.
Gross collection including SPVs and joint ventures was down by 4 per cent to EUR 82.7 million, and cost to collect was down 0.8 percentage points quarter on quarter to 23.2 per cent in Q4 2020. The collections were above expectations of the latest forecast in the fourth quarter.
Cash EBITDA was €88 million, a decrease of 4 per cent compared to the fourth quarter 2019, while operating profit (EBIT) was €34.5 million, up 22% compared to €28 million in Q4 2019.
Profit after tax was €12 million, compared to €8.7 million Q4 2019, leading to earnings per share of ЕUR 0.03, compared to ЕUR 0.02 in the fourth quarter last year.
B2Holding invested €42.4 million in new portfolios in the fourth quarter. All investments in the quarter were in unsecured portfolios, of which 47 % were forward flow transactions. The total gross ERC was €2.24 billion at the end of the quarter.
“The fourth quarter showed stable performance overall and was a positive end to a challenging year. When the second wave of the pandemic hit most of our countries, we were well prepared and able to remain fully operational in all countries. In the fourth quarter we strengthened our balance sheet through prudent portfolio purchase activity. In combination with improved efficiency and adoption of new technology, we strongly believe that B2Holding is well positioned to meet the future” said Erik J. Johnsen, CEO of B2Holding ASA.
Looking ahead, B2Holding expects that investment levels will remain modest in the first quarter of 2021. The Group is observing increased NPL market activity and expects higher volumes in 2021.
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