KRUK releases H1 2026 results
For the six months ended 30 June 2026, the KRUK Group reported net profit of PLN 555 million, down 5% year on year, and profit before tax of PLN 590 million, up 1% year on year. Recoveries from purchased debt portfolios reached PLN 2,011 million, up 5% year on year. Cash EBITDA for the period rose 8% year on year, to PLN 1,398 million.
‘In the first half of 2026, KRUK delivered solid results and maintained good profitability, although growth fell short of our expectations. This was partly due to the weakening of the Romanian currency against the euro, which had a PLN 59 million negative impact on our second-quarter results. I’m pleased that every market made a positive contribution to EBITDA,’ says Piotr Krupa, CEO of KRUK S.A. ‘In July, in line with our strategic roadmap, we launched the initial version of our new operating system in Poland. This marks an important milestone in our transformation, and the benefits will be rolled out to our other markets in the next phases. At the same time, we are continuing the planned work to align KRUK’s organisational structure more closely with our strategic objectives.’
Total revenue was PLN 1,572 million, down 2% year on year. Revenue from purchased debt portfolios amounted to PLN 1,436 million over the period, marking a 1% year-on-year decline. Of the PLN 864 million invested by KRUK in the six months to 30 June 2026, the largest shares were allocated to Italy (47%) and Poland (31%). Debt ratios remained moderate (with net debt to cash EBITDA at 2.6), alongside a high level of profitability (with LTM ROE at 19%).
‘We continued to invest across all of our markets, having also resumed investment activity in Spain. Competition remains intense. The second half of the year is typically the busiest period in this respect, and we expect a larger portfolio supply to come to market. With a sound financial position and good access to financing, KRUK is well placed to capture attractive investment opportunities as they arise, with appropriate returns on assets continuing to be our key investment criterion,’ concludes Piotr Krupa.
The full report for the six months ended 30 June 2026 is available from: https://pl.kruk.eu/relacje-inwestorskie/raporty/raporty-okresowe