Current Report No. 6/2021: Preliminary estimates of the KRUK Group's financial results for 2020 and the Management Board's recommendation on dividend payment

Having been notified, on March 17th 2021, of the preliminary estimate of the consolidated net result of the KRUK Group (the “Group”) for 2020, the Management Board of KRUK S.A. (the “Company”) has decided to publicly announce it. 
The preliminary estimate of the KRUK Group’s consolidated net profit for 2020 is PLN 81m. 
The figure is subject to change.
The Company has made a preliminary estimate of the KRUK Group’s cash EBITDA* for 2020 at PLN 1.236m, up 10% on 2019. 
The finally determined financial results will be disclosed in the audited consolidated annual report of the KRUK Group for 2020 to be released on March 25th 2021.
The Management Board of KRUK S.A. further announces that on March 17th 2021 it passed a resolution to recommend to the Company’s Annual General Meeting distribution of dividend of PLN 8 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