KRUK Group announces estimated net profit of PLN 1,012m for 2023

Today, the Management Board of KRUK S.A. released a current report with preliminary estimates for the KRUK Group’s net profit, projecting PLN 256m for the fourth quarter of 2023 and PLN 1,012m for the full year. Estimated fourth-quarter cash EBITDA stands at PLN 484m, with a full-year 2023 estimate of PLN 2,104m, resulting in an estimated net debt to cash EBITDA ratio of 2.4 at year-end 2023.

‘Our estimates indicate potential record-breaking net profit and cash EBITDA levels for 2023. Coupled with investments exceeding PLN 2.9bn and recoveries surpassing PLN 3bn, these figures underscore our strong financial health and robust market position. We continue to enhance operational processes both in Poland and our foreign markets, which already account for the majority of our investments and recoveries. We are exploring a new market, with initial small investments in debt portfolios made in France. Concurrently, we remain focused on our ongoing technological transformation efforts,’ noted Piotr Krupa, CEO and President of KRUK S.A. ‘With an estimated profit of PLN 1bn and cumulative investments in debt portfolios of PLN 7.1bn over the past three years – representing almost half of KRUK’s 25-year investment total – we have entered an entirely new level of growth. It is worth noting that just four years ago, our profits stood at approximately PLN 300m, with investments comprising one-fourth of the prior year’s total. We rank among the world’s largest companies and are focused on investments in new portfolios while optimising existing debt portfolios on our balance sheet, paving the way for sustained future growth. It’s important to note that our assets are long-term. Last year’s record investments are expected to yield profits for many years to come – it’s a marathon, not a sprint. Simultaneously, the net debt to cash EBITDA ratio is estimated to have risen to 2.4. Further details and insights will be provided when we release our fourth-quarter 2023 results,’ said Piotr Krupa, CEO and President of KRUK S.A.

The unaudited financial data will be disclosed in the KRUK Group’s consolidated report for the fourth quarter of 2023, slated for release on 27 February 2024. The audited data will be disclosed in the consolidated report of the KRUK Group for 2023, scheduled for issue on 27 March 2024.