KRUK Group announces PLN 338m in estimated net profit for Q1 2024

KRUK Group announces PLN 338m in estimated net profit for Q1 2024

The Management Board of KRUK S.A. has issued today a current report with an estimate of the KRUK Group’s net profit for the first quarter of 2024, which has been put at PLN 338m. Estimated first-quarter cash EBITDA is PLN 604m, resulting in an estimated net debt to cash EBITDA ratio of 2.3 at the quarter’s end.

‘We anticipate another outstanding set of performance figures for the first quarter, including the highest net profit and record-breaking cash EBITDA compared not only with the past first quarters but also against all other quarterly periods. We’ll also post an improvement in our net debt to cash EBITDA ratio, estimated to decrease to 2.3x from 2.4x at the close of 2023,’ says Piotr Krupa, CEO and President of the KRUK S.A. Management Board. ‘We started the year on a strong note both in Poland and internationally, with significant investments in debt portfolios totalling PLN 335m, the majority of them made outside of Poland. Foreign markets also accounted for the majority of our first-quarter recoveries. Our momentum continues to build, as underscored by a recent milestone in Italy, where we signed another major contract for the purchase of debt portfolios worth nominally over PLN 2bn. We remain dedicated to enhancing both our investment and operational efficiencies, bolstered by continued technological development. Further details and insights will be provided when we release our first-quarter 2024 results,’ said Piotr Krupa, CEO and President of KRUK S.A.

The finally determined financial results will be disclosed in the consolidated report of the KRUK Group for Q1 2024, scheduled for issue on 8 May 2024.

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