Hoist Finance's second quarter was stable in terms of performance, but with limited growth. The market saw quite a lot of activity, but the competition was very high, leading to high-priced portfolios. The collection performance was solid at 102%. Without one-off effects, profit before tax was SEK 64m.
"We need to focus and improve performance. We are initiating a transformation to accelerate portfolio acquisitions, improve productivity and reduce costs," says Per Anders Fasth, CEO of Hoist Finance.
- Total operating income amounted to SEK 625m (513)
- Profit/loss before tax totalled SEK 52m (-64)
- Profit/loss before tax adjusted for items affecting comparability totalled SEK 64m (-64)
- Earnings per share amounted to SEK -0.79 (-1.05)
- Return on equity was -7 per cent (-9)
- Return on equity excluding items affecting comparability was 4 per cent (-9)
- Carrying value of acquired loans totalled SEK 21,059m (21,075)
- The total capital ratio was 15.47 per cent (16.49) and the CET1 ratio was 9.7 per cent (10.76)
Figures in brackets refer to the second quarter of 2020 for profit comparisons and to the 31 December 2020 closing balance for balance sheet items.
This information is information that Hoist Finance AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication by Andreas Lindblom at 07:30 A.M. CEST on 21 July 2021.
A teleconference for Investors, Analysts and Press will be held at 09:30 AM CEST. To listen in to the conference live, please dial:
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Telephone: +46 (0) 72 506 14 22
About Hoist Finance
Hoist Finance is a trusted debt resolution partner to individuals, companies and banks in thirteen European countries. With over 1,600 dedicated colleagues, smart digital solutions and a deep understanding of individual financial circumstances, we help over six million customers keep their commitments. This is achieved by agreeing on sustainable repayment plans so that everyone is included within the financial ecosystem. Hoist Finance has a diverse portfolio of asset classes and our online savings platform in Sweden and Germany enables our unique funding model. Hoist Finance was founded in 1994 and is today a public company listed on Nasdaq Stockholm. For more information, please visit hoistfinance.com.