Hoist Finance announces SEK 350 million negative impairment and provides Q1 update
Despite that total collection performance continues to be above the active forecast for the quarter (102 per cent), Hoist Finance has decided to make an impairment of approx. SEK -350m for the first quarter of 2021. In the first quarter, most jurisdictions have performed in line with or above the active forecast, which since Q2-20 takes the effects of the Covid-19 pandemic into account. This active forecast assumed reduced collections in 2020, but a gradual return to normality starting in 2021. However, due to the prolonged nature of the Covid-19 pandemic, the uncertainty around the