Current Report No. 35/2020: Expenditure on and recoveries from debt portfolios and the impact of the epidemic on the KRUK Group's results
In line with the adopted disclosure policy, KRUK S.A. (KRUK, the Company) discloses the amount of expenditure on and recoveries from the management of debt portfolios purchased by the KRUK Group.
Q3 2020
|
The nominal value of debt purchased by the Group |
||
|
Q3 2020 |
Q3 2019 |
change |
|
PLN 133m |
PLN 734m |
-82% |
|
The expenditure on debt portfolios purchased by the Group |
||
|
Q3 2020 |
Q3 2019 |
change |
|
PLN 33m |
PLN 83m |
-60% |
|
The recoveries from the management of purchased portfolios purchased by the Group |
||
|
Q3 2020 |
Q3 2019 |
change |
|
PLN 452m |
PLN 433m |
+4% |
I-IIIQ 2020
|
The nominal value of debt purchased by the Group |
||
|
I-IIIQ 2020 |
I-IIIQ 2019 |
change |
|
PLN 825m |
PLN 4.022m |
-79% |
|
The expenditure on debt portfolios purchased by the Group |
||
|
I-IIIQ 2020 |
I-IIIQ 2019 |
change |
|
PLN 113m |
PLN 392m |
-71% |
|
The recoveries from the management of purchased portfolios purchased by the Group |
||
|
I-IIIQ2020 |
I-IIIQ 2019 |
change |
|
PLN 1.346m |
PLN 1.307m |
+3% |
The Company announces that the KRUK Group is taking steps to minimise the adverse impact of COVID-19 on its assets and financial performance, and to prepare the Group to resume full investment and operating activity once the pandemic subsides.
The Group’s finances and liquidity position as at the end of the third quarter of 2020 and the date of issue of this report remained stable. The KRUK Group enjoys a strong equity position (PLN 1987m as at June 30th 2020) and low debt (1.9 in a net debt/cash EBITDA ratio as at June 30th 2020). Estimated value of cash and cash equivalents at September 30th 2020 were PLN 264m, an increase of PLN 14m compared with June 30th 2020. The undrawn lines of credit available to the Group as at September 30th 2020 totaled PLN 1.181m, up by PLN 271m relative to the June 30th 2020.
The finally determined financial results for IIIQ 2020 will be disclosed in the report of the KRUK Group for IIIQ 2020, scheduled for issue on November 5th 2020.