Current Report No. 13/2021: Preliminary estimates of the KRUK Group's financial results for the first quarter of 2021 and change of the Management Board's recommendation on dividend payment

Having been notified, on May 5th 2021, of the preliminary estimate of the consolidated net result of the KRUK Group (the “Group”) for the first quarter of 2021, the Management Board of KRUK S.A. (the “Company”) has decided to announce the results to the public. 
The preliminary estimate of the KRUK Group’s consolidated net profit for the first quarter of 2021 is PLN 127m. 
The above figures are subject to change.
The Company has made a preliminary estimate of the KRUK Group’s cash EBITDA* for the first quarter of 2021 at PLN 364m, up 12 % on the first quarter of 2020. 
The finally determined financial results will be disclosed in the consolidated report of the KRUK Group for the first quarter of 2021, scheduled for issue on May 24th 2021.
The Management Board of KRUK S.A. further announces that on May 5th 2021 it resolved to change the amount of the dividend payment to be recommended to the Company’s Annual General Meeting from PLN 8.00 to PLN 11 PLN per share. The dividend shall be distributed from the Company's net profit for 2020, increased by a portion of statutory reserve funds created out of the Company's earnings. The recommendation takes into account the current financial condition of the KRUK Group, future implementation of the strategy, as well as the Group’s plans and growth prospects. The Management Board may recommend distribution of dividends in the future, but in each case the final decision in this respect will be made with due regard to the Group's strategic plans, growth prospects, investment financing requirements, as well as its current debt level and overall financial condition.
* Cash EBITDA = EBITDA – revenue from purchased portfolios + purchased portfolio collections