B2holding : Q2 2017 Report - ANOTHER RECORD QUARTER - 59% GROWTH IN CASH EBITDA, NOK 1.12BN IN PORTFOLIO ACQUISITIONS, ERC OF NOK 11.9BN, EXPANSION INTO DENMARK.
August 25, 2017 at 03:58 am EDT
Share
Q2 2017 Report - ANOTHER RECORD QUARTER - 59% GROWTH IN CASH EBITDA, NOK 1.12BN IN PORTFOLIO ACQUISITIONS, ERC OF NOK 11.9BN, EXPANSION INTO DENMARK.
25.08.2017 07:00
Second quarter 2017 * Gross cash collection of NOK 604 million (427) - up 41% y-o-y * Operating profit of NOK 217 million (113) - up 92% y-o-y * Cash EBITDA of NOK 420 million (264) - up 59% y-o-y * ERC at end of month NOK 11,881 million (8,186) - up 45% y-o-y (comparable numbers for Q2 2016 in brackets) B2Holding ('B2H') logged another record quarter in Q2. Strong cash collection and disciplined cost control resulted in record-high levels on all key performance indicators. The Group is experiencing strong momentum in its main markets and sees substantial growth potential in the current pipeline. The Group posted a quarterly cash EBITDA of NOK 420 million, the highest ever and an increase of NOK 156 million (59%) compared to Q2 2016. The operating profit grew 92% to NOK 217 million and net profit increased to NOK 107 million (+71%). The Group acquired portfolios for NOK 1,120 million during the quarter, a new record-high. Over the last 12 months, B2H has acquired portfolios for approx. NOK 2.8 billion (up 23% y-o-y) and grown the total gross ERC to approx. NOK 11.9 billion (up 45% y-o-y). At the end of the quarter, B2H had NOK 1,062 million in investment capacity. In June, B2H expanded into Denmark by acquiring 100% of the shares in Nordic Debt Collection A/S (Nodeco). The Group also acquired a retail unsecured portfolio with face value of DKK 378 million (NOK 480 million), which already is serviced by Nodeco. With the new Danish platform, B2H has 19 platforms spread over Northern Europe, Poland, Central Europe and Southeast Europe. For further information, please see the Q2 2017 presentation and report attached. The documents are also available on the Company's website: http://www.b2holding.no
B2holding ASA published this content on 25 August 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 August 2017 07:57:04 UTC.
Original documenthttp://ir.asp.manamind.com/products/html/companyDisclosuresArchive.do?key=btoh_news&lang=en&externalCss=http%3a%2f%2fb2holding.ezpub02.byte.no%2fbundles%2fbyteb2%2fcss%2fmanamind.css&referenceId=0000-http%3a%2f%2fwww.newsweb.no%2findex.jsp%3fmessageId%3d433514
Public permalinkhttp://www.publicnow.com/view/6EAA8000F7AEB3B20683EC9C8524ED342CD3E92B
B2 Impact ASA, formerly B2holding ASA, is a Norway-based financial services provider specialized in investment and workout of non-performing loans as well as providing third party debt collection solutions. The Company offers Debt collection services, that helps debtors back on track, and provide optimal collections through amicable solutions or legal processes. B2 Impact presents a flexible approach to the restructuring of debts. Such an approach is often of considerable benefit to a debtor, whose goal, despite temporary problems, is to restore his/her financial credibility and status as a reliable consumer; Debt purchase, that helps debtors back on track, and provide optimal collections through amicable solutions or legal processes; and Third party debt collection is offered as a service in the Baltics, Finland, Norway and Sweden on behalf of customers.
B2holding : Q2 2017 Report - ANOTHER RECORD QUARTER - 59% GROWTH IN CASH EBITDA, NOK 1.12BN IN PORTFOLIO ACQUISITIONS, ERC OF NOK 11.9BN, EXPANSION INTO DENMARK.
B2 IMPACT ASA 
