B2Holding’s financial results for the first quarter exceed the forecasts

Norway based B2Holding, owner of Debt Collection Agency, ended the first quarter of the year with revenues and cash collections above the initial forecasts, shows the report of the leading debt management holding company in Europe.

 

Net revenues from January to March was EUR 69.7 million and cash collections of EUR 118.10 billion, with strong real estate owned property, noted the report. 

 

The indicator cash EBITDA was EUR 90.86 million. Net profit was EUR 9.44 million, which is equivalent to earnings per share of EUR 0.2. Financial result has decreased compared to the first quarter of 2021, when B2Holding has EUR 12.65 million net profit or EUR 0.03 per share. 

 

 

 

The performance of B2Holding in Southeast Europe is very good. For the first quarter revenues increased by 14% to EUR 11.48 million, and profit before taxes grew up by 34% (see the chart). Estimate remaining collections (ERC) has decreased, and the new portfolio investments are also reduced. However, cost collections in the region are lower than they were in the first quarter of last year -form 30% to 27%.

B2Holding invested EUR 23.26 million in new portfolios in the first quarter. All the portfolios purchased were unsecured, of which 43 per cent were forward flow transactions. The ERC was EUR 1.82 billion at the end of the quarter, of which 79 per cent are unsecured portfolios. 

Non-performing loans (NPL) transaction activity continued the positive trend from the end of 2021 into Q1, with an increase in volumes marketed, evaluated, and transacted.

“The first quarter was another good quarter with both secured and unsecured delivering above expectations. On the investment side, we have focused on maintaining a disciplined approach. As we observe a much-improved market with increased activity and a larger supply of portfolios, we look ahead with optimism.” said Erik Just Johnsen, CEO B2Holding ASA. 

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