KRUK releases information on recoveries and investments in Q1 2026 and intends to pay dividend of approximately PLN 390 million

Recoveries from debt portfolios purchased by the KRUK Group for the three months to 31 March 2026 totalled PLN 971 million, up by 5% year on year and down by 3% quarter on quarter. The deviation between actual and projected recoveries was PLN 34 million in the first quarter of 2026*.

“Recoveries both for the entire first quarter and for each of the three months of the year exceeded last year’s results and were close to operational targets. The majority of recoveries were generated in foreign markets, while Poland accounted for 40% of total recoveries. I can see the effects of the operational teams’ work, although we have yet to achieve the expected results in Spain and France. We are undergoing a major transformation, not only digital, and I see a positive direction in the initiatives being undertaken. For the entire quarter, recoveries across all markets were 4%** higher than our accounting assumptions for the period,” said Piotr Krupa, CEO of KRUK S.A.

In the three months ended 31 March 2026, the KRUK Group invested PLN 513 million in debt portfolios with a nominal value of PLN 1.7 billion, compared with PLN 229 million of investments in debt with a nominal value of PLN 1.1 billion in the first quarter of 2025. A major part of the purchases involved unsecured retail debt.

“We made a very strong start to the year in terms of investments across all our markets. Italy recorded the largest share, accounting for 67% of the Group’s total investments. We also invested in Spain, although expenditure on portfolios in that market was the lowest within the Group. Investments in Poland and across all markets are in line with our assumptions,” summarised Piotr Krupa.

Today, the Management Board recommended the payment of a dividend of PLN 20 per share, i.e., approximately PLN 390 million. The remaining portion of the profit is proposed to be allocated to the statutory reserve funds.

“Since 2014, we have consistently shared profits with investors, distributing more than PLN 1.8 billion to shareholders to date. KRUK’s dividend policy assumes a payout of at least 30% of consolidated net profit, taking into account the Group’s debt levels and investment plans. At the end of 2025, the net debt to cash EBITDA ratio stood at 2.6 compared with the strategic upper limit of 3.0. We have very strong access to financing, both bank and bond funding – most recently, we raised PLN 600 million from institutional bondholders on favourable terms. We also exercised a call option for the first time in our history, redeeming bonds with a nominal value of PLN 120 million. We see potential for further growth while continuing to share last year’s profit with our shareholders. Therefore, subject to the Supervisory Board’s opinion, we will recommend to shareholders a dividend payment at a record level of PLN 20 per share. We appreciate investors’ trust and thank them for enabling KRUK’s continued growth,” concluded Piotr Krupa.

*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;

**The percentage deviation between actual and projected recoveries is determined as the ratio of ‘deviation between actual and projected recoveries’ to the difference between ‘actual recoveries’ and ‘deviation between actual and projected recoveries’.