KRUK Group estimates net profit for 2024 at PLN 1,074 million

Today, the Management Board of KRUK S.A. released a current report with estimates of the KRUK Group’s net profit, projecting PLN 115 million for the fourth quarter of 2024 and PLN 1,074 million for the full year. Estimated fourth-quarter cash EBITDA stands at PLN 604 million, with a full-year 2024 estimate of PLN 2,374 million, resulting in an estimated net debt to cash EBITDA ratio of 2.7 at year-end 2024.

‘The estimated net profit for 2024, along with the projected cash EBITDA, would both surpass the 2023 results and mark the highest figures in KRUK’s history. If confirmed, the last year’s performance would be a strong conclusion to our 2019–2024 strategy. The estimated fourth-quarter results, which we expect to be the lowest of the year, are affected by the situation in Spain, where delays in court proceedings are prompting us to revise down future expected recoveries from portfolios purchased in that market,’ commented Piotr Krupa, CEO and President of the Management Board of KRUK S.A. ’In our core business in 2024, we invested over PLN 2.8 billion in debt portfolios and achieved over PLN 3.5 billion in recoveries. We are working intensively on our digital transformation and continuously improving operational processes, not only in markets where collections are strong and exceed our operational expectations but also in Spain, where we are addressing challenges posed by the prolonged litigation. A more detailed commentary will be provided with the publication of our fourth-quarter 2024 results,’ added Piotr Krupa.

The final performance figures will be disclosed in the KRUK Group’s consolidated report for the fourth quarter of 2024, slated for release on 27 February 2025, and in the KRUK Group’s audited consolidated report for the full year 2024, scheduled for issue on 27 March 2025.