Oslo, 2025-05-15
Financial highlights:
* Investments of NOK 890m and NOK 1.6bn committed for 2025
* Unsecured collection performance of 109 % (105)
* Cash collections of NOK 1,352m (1,273)
* Cash EBITDA of NOK 975m (905)
* Adj. Net profit of NOK 135m (96)
* Adj. Earnings per share of NOK 0.37 (0.26)
* Proposed dividend per share for 2024 of NOK 1.5 (1.3)
(Comparable numbers for 2024 in brackets)
Collections remained strong in the first quarter with an unsecured collection performance of 109 % up from 105 % in the same quarter last year. Cash collections and revenues were up, driven by higher unsecured collections offsetting lower secured collections as expected.
Cash EBITDA was NOK 975 million and adjusted EBIT was NOK 374 million. Adjusted Net profit was NOK 135 million equivalent to adjusted earnings per share of NOK 0.37, up from NOK 0.26 in the same quarter last year representing 41 % growth in adjusted earnings per share.
B2 Impact invested NOK 890 million in new portfolios in the first quarter. The investments in the quarter were only unsecured portfolios. The Estimated Remaining Collections (ERC) were NOK 25.6 billion including share of portfolios held in JVs and REOs. At the end of the first quarter, the Group has invested and committed NOK 1.6 billion for 2025.
B2 Impact has a solid and diversified funding structure to support further growth. The leverage ratio at the end of the first quarter was 2.1x. The Group issued a 5-year EUR 200 million senior unsecured bond in March at a margin of 3.75 % which is the lowest margin achieved in a primary issue. The bond issue is neutral to the Group’s cost of debt as the reduced drawn amount on the RCF results in a lower margin. The Group holds an EUR 610 million senior secured revolving credit facility (RCF) and three senior unsecured bond loans for a total of EUR 650 million.
“The investment activity picked up significantly in the fourth quarter last year, and the high activity has continued in the first quarter. Total investments of NOK 890 million in the first quarter is a substantial increase compared with the same quarter last year. With invested and committed volumes of more than NOK 1.6 billion at the end of Q1 against our investment target of at least NOK 3 billion for 2025, we are in a good position for the remainder of the year. Adjusted earnings per share of NOK 0.37 is up 41 % from Q1 last year, and we are on track to deliver our dividend target of NOK 1.5 for 2025.” said Trond Kristian Andreassen, CEO of B2 Impact ASA.
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For further information, please see the Q1 2025 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:
First quarter 2025 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:
A recording of the audiocast will be available on-demand after the live stream is concluded.
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
