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Investments of NOK 2.5bn for 2024 and NOK 1.2bn committed for 2025
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Unsecured collection performance of 110% and 108% for the full year
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Cash collection of NOK 1,300m (1,906)
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Cash EBITDA of NOK 933m (1,540)
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Adj. Net profit of NOK 108m (105)
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Adj. Earnings per share of NOK 0.29 (0.28) and NOK 1.57 for the full year
(1.27)
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Proposed dividend per share for 2024 of NOK 1.5 (1.3)
(Comparable numbers for 2023 in brackets)
Collections remained strong in the fourth quarter with an unsecured collection
performance of 110% up from 104% in the same quarter last year. Cash
collections and revenues were down, driven by lower secured collections as
expected with one large secured claim collected in the same quarter last year.
Unsecured collections were up 6% in the quarter.
Cash EBITDA was NOK 933 million and adjusted EBIT was NOK 334 million.
Adjusted Net profit was NOK 108 million equivalent to adjusted earnings per
share of NOK 0.29, up from NOK 105 million and NOK 0.28 in the same quarter
last year. Full year adjusted earnings per share ended at NOK 1.57 per share,
up from NOK 1.27 per share in 2023.
Adj. Net profit in the fourth quarter is up compared to last year, despite
lower collections from secured. This is driven by a reduction in underlying
operating expenses of 5% and significantly reduction in interest costs of 28%.
The interest expense is expected to decline further in the first quarter of
2025.
B2 Impact invested and signed NOK 1,437 million in new portfolios in the
fourth quarter. The investments in the quarter were only unsecured portfolios.
The Estimated Remaining Collections (ERC) were NOK 25.5 billion including
share of portfolios held in JVs and REOs. The ERC does not include portfolios
signed in the fourth quarter. As per 13 February, the Group had committed
investments of NOK 1.2bn for 2025.
B2 Impact has a solid and diversified funding structure to support further
growth. The leverage ratio at the end of the fourth quarter was 2.2x. The
healthy capital structure and leveraging ensure liquidity and financial
flexibility to deliver on the strategy going forward. The Group holds an EUR
610 million senior secured revolving credit facility (RCF) and two senior
unsecured bond loans for a total of EUR 450 million.
“Investment activity was high in the fourth quarter with signed investments at
year end within our guided investment range for 2024. We have further secured
a substantial volume of investments entering 2025 and currently NOK 1.2bn is
already committed for 2025. Based on our strong development, the Board has
proposed a dividend of NOK 1.50 per share for the financial year of 2024. The
target is to maintain this level of dividends in 2025 with the ambition to
grow shareholder return going forward and maintain a prudent leverage,” said
Trond Kristian Andreassen, CEO of B2 Impact ASA.
For further information, please see the Q4 2024 presentation and report
attached. The documents are also available on the Company’s website:
www.b2-impact.com
Definitions of alternative performance measures can be found in the report and
presentation.
The results will be presented in an audiocast from 08:30 CEST today through
this link:
Fourth quarter 2024 Presentation
(Fourth quarter 2024 Presentation)
Live viewers can submit their written questions for the Q&A in the provided
form in the audiocast player.
The audiocast can also be accessed through the following link where questions
for the Q&A can be asked live:
Call Access (Call Access)
A recording of the audiocast will be available on-demand after the live stream
is concluded.
An updated dividend policy is available on B2 Impact’s website:
Dividend policy
For further information, please contact:
Rasmus Hansson
Head of Investor Relations and M&A
Mobile: +47 952 55 842
E-mail: rasmus.hansson@b2-impact.com
or
André Adolfsen
CFO
Mobile: +47 930 19 150
E-mail: andre.adolfsen@b2-impact.com
About B2 Impact
B2 Impact is one of the leading pan-European debt management companies. B2
Impact offers solutions to the challenges created by defaulted loans, and
provide liquidity to financial institutions, contributing to a healthier
financial system. B2 Impact promote lasting financial improvement through
transparent and ethical debt management. B2 Impact is headquartered in Oslo,
Norway and the B2 Impact share is listed on the Oslo Stock Exchange under the
ticker “B2I”.
For further information, visit www.b2-impact.com
This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication at
2025-02-13 07:00 CET.
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