The positive development indicates that the company is on the right track, but Kredinor is still working to improve profitability in its third-party debt collection operations.
The financial results for the first quarter are positively impacted by a write-up of the NPL portfolios by NOK 18 million and positive one-time effects of NOK 22 million.
– We are pleased with the growth, but the profitability from the debt collection operations is still not good enough, and the return on equity is unfortunately not where it should be. Therefore, we continue working on restructuring and maintaining a clear focus on our core business, says CEO Rolf Eek-Johansen.
– We will continue the good work we have started. Gradually, we will improve profitability and adjust our cost base.
Kredinor has improved their investment capacity and is active in the market for purchasing debt portfolios.
Eek-Johansen also highlights the positive dialogue the debt collection industry has had with authorities and policymakers.
– It is encouraging that more people understand the important role of the debt collection industry in an economy that is constantly changing, and Kredinor will do its part to contribute to the further development of the industry.
Key Figures for the First Quarter:
Total Revenue: NOK 391.7 million
EBITDA: NOK 161.8 million
EBT: NOK 85.7 million
Book Value of the Portfolio: NOK 5.494 billion
For more information, please contact:
Melita Ringvold, Director of Sustainability and Communication
Phone: +47 951 21 983 / Email: melita.ringvold@kredinor.no
Rolf Eek-Johansen
Chief Executive Officer – CEO
