KRUK Group reports cash EBITDA above PLN 2 billion for the first three quarters of 2025
The KRUK Group’s net profit for the first three quarters of 2025 came in at PLN 877 million, down 9% year on year. Recoveries from purchased debt portfolios reached PLN 2,921 million, up 12% year on year. At PLN 2,007 million, cash EBITDA for the period rose 13% year on year.
“Our results are very strong and fully in line with expectations, particularly given the seasonal slowdown in the third quarter across southern markets. As at the end of the third quarter, we had already achieved over 80% of the full-year 2024 net profit. It is also worth highlighting the strong cash generation reflected in our results – both recoveries and cash EBITDA reached record highs for KRUK,” said Piotr Krupa, CEO of KRUK S.A. “Across our key markets, intensive work continues on digital transformation and strategy execution. I greatly appreciate the dedication of our employees, who continue to ensure process stability while consistently enhancing efficiency.”
Total revenue reached PLN 2,403 million, up 3% year on year. Revenue from purchased debt portfolios amounted to PLN 2,181 million over the period, marking 3% year-on-year growth. Of the PLN 1,427 million invested by KRUK in the first three quarters of 2025, the largest shares were allocated to Poland (29%) and Italy (42%). Debt ratios remained moderate (with net debt to cash EBITDA at 2.6), alongside a high level of profitability (with LTM ROE at 20%).
“We continue to see a healthy supply of debt portfolios across our main markets. At the same time, we are observing increased competition in auctions, driven by lower financing costs. In my view, we made very effective use of the investment opportunities available between January and September this year, while the fourth quarter is traditionally the most intensive period of the year. With strong access to financing and a stable position, we look ahead to future investment opportunities with confidence,” concluded Piotr Krupa.
The full report for the three quarters ended 30 September 2025 is available at: https://pl.kruk.eu/relacje-inwestorskie/raporty/raporty-okresowe