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Year-end report January-December 2019

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Collector AB publishes year-end report for the period January-December 2019.

FOURTH QUARTER 2019 (COMPARED TO THE FOURTH QUARTER OF 2018)

  • The loan portfolio increased by 14% to SEK 29,880 million (26,104)
  • Total income increased by 19% to SEK 671 million (563)
  • The C/I ratio amounted to 62.8% (43.4)
  • The credit loss level amounted to 12.3% (2.1)
  • Operating profit amounted to SEK -680 million (191) and adjusted operating profit amounted to SEK 145 million
  • Net profit amounted to SEK -489 million (154)
  • Earnings per share amounted to SEK -4.76 (1.50)


JANUARY–DECEMBER 2019 (COMPARED TO JANUARY–DECEMBER 2018)

  • The loan portfolio increased by 14% to SEK 29,880 million (26,104)
  • Total income increased by 20% to SEK 2,260 million (1,883)
  • The C/I ratio amounted to 48.4% (45.8)
  • The credit loss level amounted to 4.4% (1.3)
  • Operating profit amounted to SEK -52 million (721) and adjusted operating profit amounted to SEK 751 million
  • Net profit amounted to SEK -8 million (566)
  • Earnings per share amounted to SEK -0.08 (5.51)
  • The Board of Directors proposes that no dividend will be paid for the financial year 2019


EXTRAORDINARY EVENTS DURING THE PERIOD

  • Extra provisioning for expected credit losses of SEK 800 million
  • Write-down of capitalised IT investments of SEK 150 million
  • The divestment of Colligent Inkasso AB was completed


EVENTS AFTER THE END OF THE PERIOD

On 21 January 2020 Collector announced the intention to carry out a fully guaranteed rights issue of approximately SEK 1,000 million during the first quarter 2020 to strengthen the company's capital base. Collector also announced the intention to divest Collector Ventures, the company's investment business focusing on fintech, during 2020.


CONFERENCE CALL

A conference call will be held in Swedish on 13 February 2020 at 09:00 a.m. (CET), during which CEO Martin Nossman and CFO Peter Olsson will present the report. The presentation will be followed by a Q&A session. To participate in the conference call, please dial +46 850 558 368 or +44 3333 009 262. The switchboard opens at 08:55 (CET). The presentation will be broadcasted live at: https://tv.streamfabriken.com/collector-q4-2019.

The presentation material will be available in English and published in connection with the conference call on www.collector.se/en/, where the recorded version of the webcast will be available afterwards.

 

For further information, please contact:
Madeleine Mörch, Finance & IR Manager
Phone: +46 73 712 04 52
E-mail: madeleine.morch@collectorbank.se


This is information that Collector AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 13 February 2020 at 07:30 a.m. CET.

Collector is a challenger bank that offers financing solutions to private and corporate customers. Within the Retail segment, the company offers lending to private individuals, invoice and payments by instalments to e-commerce and retail companies, credit cards and deposit accounts. The Corporate segment includes real estate lending, factoring and corporate lending directed mainly at small- and medium-sized enterprises and handling of portfolios of overdue receivables. The company has offices in Gothenburg (head office), Stockholm, Helsinki, Turku and Oslo. Collector AB (publ) is listed on Nasdaq Stockholm.

Collector AB (publ) 556560-0797 | Box 119 14, SE-404 39 Gothenburg | Exchange +46 10-161 00 00 | E-mail info@collectorbank.se | www.collector.se/en/

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