Current Report No. 42/2015: Expenditure and recoveries on debt portfolios purchased by the KRUK Group
Date of the report: July 10th 2015
Subject: Expenditure and recoveries on debt portfolios purchased by the KRUK Group
Legal basis: Art. 56.1.2 of the Public Offering Act – Current and periodic information
Text of the report: In connection with the disclosure policy launched and described in Current Report No. 39/2012 of October 10th 2012 and Current Report No. 13/2015 of April 10th 2015, the Management Board of KRUK S.A. (the “Company”, the “Issuer”) announces that on July 10th 2015 it passed a resolution specifying the nominal value of debt portfolios purchased, and expenditure incurred by the KRUK Group companies, as well as recoveries on purchased debt portfolios collected by the KRUK Group in Q2 2015.
Expenditure on debt portfolios
According to the above resolution, the total expenditure incurred by the KRUK Group to purchase debt portfolios in Poland and abroad in Q2 2015 amounted to PLN 176.6m, while the nominal value of the debt purchased by the KRUK Group in the period amounted to PLN 1.8bn. In comparison, the total expenditure on debt portfolios purchased by the Group in Poland and abroad in Q2 2014 was PLN 44m, with the nominal value of the debt amounting to PLN 657m.
The total expenditure incurred by the KRUK Group to purchase debt portfolios in H1 2015 was PLN 221m, while the nominal value of the debt purchased by the Group in the period amounted to PLN 2.3bn. In comparison, the total expenditure incurred by the Group to purchase debt portfolios in Poland and abroad in H1 2014 amounted to PLN 313m, with the nominal value of the purchased debt totalling PLN 1.7bn, of which PLN 230m was incurred on a mortgage-backed debt portfolio with a nominal value of PLN 699m (for details see Current Report No. 10/2014 of March 31st 2014).
Recoveries on purchased debt portfolios
Total recoveries collected in Q2 2015 on debt portfolios purchased by the KRUK Group in Poland and abroad amounted to PLN 210.9m. In comparison, total recoveries collected in Q2 2014 on debt portfolios purchased by the KRUK Group in Poland and abroad amounted to PLN 206.6m.
Total recoveries collected in H1 2015 on debt portfolios purchased by the KRUK Group in Poland and abroad amounted to PLN 398.2m. In comparison, total recoveries collected in H1 2014 on debt portfolios purchased by the KRUK Group in Poland and abroad amounted to PLN 360.4m.
The Company further announces that details concerning the financial results achieved by the Company and the KRUK Group in the second quarter of 2015 will be given in the consolidated interim report for H1 2015, scheduled for publication on August 31st 2015.
Detailed legal basis: Par. 5.1.25 of the Regulation of the Minister of Finance of February 19th 2009 on current and periodic information to be published by issuers of securities […]. Detailed legal basis: Par. 5.1.25 of the Regulation of the Minister of Finance of February 19th 2009 on current and periodic information to be published by issuers of securities […].