Q1 2018 Report - CONTINUED POSITIVE OPERATIONAL DEVELOPMENT - 46% GROWTH IN CASH EBITDA, 50% PROFIT MARGIN, ERC OF NOK 18.1BN, INCREASED GROWTH CAPACITY, STRONG PIPELINE NPL PORTFOLIOS
First quarter 2018
-
Gross cash collection of NOK 775 million (575)
-
Operating profit of NOK 326 million (213)
-
Cash EBITDA of NOK 581 million (399)
-
ERC at end of quarter NOK 18,116 million (9,852)
(comparable numbers for Q1 2017 in brackets)
B2Holding (“B2H”) continued the positive operational development from 2017, and
through the acquisition of NACC the Group expanded into France. The Group
recorded all-time high levels in key performance indicators, such as Operating
profit and Cash EBITDA, and see a strong outlook with the NPL portfolio pipeline
at the end of the quarter at very high levels.
The Group posted a record-high quarterly cash EBITDA of NOK 581 million, an
increase of NOK 182 million compared to Q1 2017 (+46%). The operating profit
reached NOK 326 million (+53%) and net profit increased to NOK 152 million from
NOK 104 million in Q1 2017 (+46%).
In Q1 2018, B2H invested NOK 1,485 million in new portfolios, distributed over
all segments. The Company has acquired portfolios for approx. NOK 5.3 billion
over the last 12 months (+112%) and grown the total gross ERC to approx. NOK
18.1 billion (+84%).
B2Holding ASA was early May 2018 assigned with a public rating: Moody’s assigned
a “Ba3” corporate family rating, and S&P has assigned a “BB-” long-term issuer
credit rating.
B2Holding successfully completed a NOK 747 million equity issue in March. In
May B2H amended and increased the RCF with EUR 150 million, and successfully
issued a new unsecured bond of EUR 200 million. Following the increases, the
Group has NOK 4.1 billion investment capacity at the end of the quarter, in
addition to strong operating cash flow from collection on purchased loan
portfolios.
For further information, please see the Q1 2018 presentation and report
attached.
The documents are also available on the Company’s website:
http://www.b2holding.no
A global investor call will be held Friday 25 May 2018 at 15:00 CET:
Dial-in: 800 88 860 (Norway)
+47 23 18 45 00 (International)
Pin: 605695#
Ekstern link: http://www.newsweb.no/index.jsp?messageId=452181
Nyheten er levert av OBI.
http://www.netfonds.no/quotes/release.php?id=20180525.OBI.20180525S3