The Management Board of KRUK S.A. has issued today a current report with a preliminary estimate of the KRUK Group’s net profit for the first quarter of 2023, which has been put at PLN 234m. Cash EBITDA has been estimated at PLN 530m, with the estimated net debt to cash EBITDA ratio of 2.0.
“We have had another strong quarter. KRUK is expanding across all its markets, solidifying its international position among the industry’s major players. In parallel, we are working to advance our technological capabilities and enhance operational processes. The preliminary estimates of our net profit and cash EBITDA for the first three months bode very well for the full-year performance. For the first time ever, our quarterly cash EBITDA topped half a billion złoty. Considering also our total investments of PLN 0.5bn and recoveries of PLN 0.7bn, the first quarter of 2023 has demonstrated the strength of our business, setting a good pace for the coming quarters. What should be seen as good news, especially by our bond investors, is the estimated level of our debt ratio, ranking among the lowest within the industry. We will provide more extensive comment when we publish our actual performance figures,” said Piotr Krupa, CEO and President of KRUK S.A.
KRUK will publish its actual detailed results for the first quarter of 2023 on April 26th 2023.