KRUK estimates its net profit for the first nine months of 2026 at PLN 753 million, with cash EBITDA of PLN 2,052 million

Today, the Management Board of KRUK S.A. announced that the KRUK Group’s estimated net profit for the first nine months of 2026 amounted to PLN 753 million. Cash EBITDA for the period was estimated at PLN 2,052 million. The estimated net debt to cash EBITDA ratio as at the end of September 2026 was 2.7x.

“We estimate that net profit in the third quarter may amount to PLN 198 million, which would bring the cumulative result for the first nine months below the level recorded a year earlier. The estimated results were adversely affected by recoveries from debt portfolios falling short of our operating plans, mainly in Spain and Romania. In the third quarter alone, the deviation between actual and projected recoveries was PLN 8 million, compared with PLN 64 million a year earlier, while the cumulative deviation amounted to PLN 87 million versus PLN 192 million*. Lower positive deviations translate directly into lower year-on-year revenue, while also affecting the recognition of a lower-than-expected positive revaluation of projected recoveries from debt portfolios. As a result, estimated net profit is lower than in the previous year, but our financial position remains very strong. Cash EBITDA may be the highest ever recorded for the first nine months of a year – said Piotr Krupa, CEO and President of the Management Board of KRUK S.A. – By the end of September, we had invested more than PLN 1.2 billion in debt portfolios. We are in a very strong financial position and have the operational capacity to make investments. What has changed, however, is the market. Competition is stronger and some players are accepting lower expected rates of return. We do not want to follow that path. We prefer to protect the quality of our investments, even if this means operating on a smaller scale for some time. We continue to see attractive opportunities in the market, but we will not pursue growth at any cost. This is important because KRUK currently holds strong assets that will generate cash flows for many years to come. We are therefore placing increasing emphasis on productivity, technology and making better use of data. Our approach to capital allocation is evolving. If attractive portfolios become available, we have the appropriate financing to take advantage of them. However, if such opportunities are more limited and the balance sheet remains secure, surplus capital should be returned to shareholders.’ said Piotr Krupa.

The final financial results will be presented in the KRUK Group’s consolidated report for the first nine months of 2026, scheduled for publication on 27 October 2026.

* The ‘deviation of actual recoveries from budgeted figures, decreases on early collections in collateralised cases, and payments from the original creditor’ item of the financial statements