Collections and recoveries of the Norway based B2Holding, owner of Debt Collection Agency, exceeded the latest forecast in the fourth quarter of 2021, said Oslo-based financial company. For the period October – December gross collection were EUR 125.7 mln., which is 4% decrease, compared to the same period of 2020.
Net revenues of B2Holding were EUR 72 mln. in the fourth quarter, and cost to collect was down 2 percentage points quarter on quarter to 21 per cent in Q4 2021. Cash EBITDA was EUR 85.47 mln. and adjusted EBIT was EUR 29.45 mln. Profit after tax was EUR 11.9 mln., equivalent to earnings per share of EUR 0.03. The decline is minimal compared to the fourth quarter of 2020, when the net profit was EUR 12.2 mln.
B2Holding invested EUR 54.76 mln. in new portfoios in the fourth quarter of 2021. 88% of the investments were unsecured portfolios, of which 23% were forward flow transactions. The estimate remaining collections was EUR 1.974 mln. at the end of the quarter.
B2Holding has a solid funding base to support future growth with EUR 218.3 mln. in liquidity reserves at the end of the quarter. Cost discipline in all the Group’s markets remained strong, and the collection improvements implemented in the previous quarters continued to contribute positively to both efficiency and effectiveness of the unsecured business.
The Group is observing a notable increase in the volume of NPLs coming to the market and expects more volume in 2022.
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