Hoist Finance interim report Q1 2022

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Accelerated improvements

“We have announced an agreement to divest the UK unsecured business, representing almost 20 per cent of the total loan portfolio, releasing between SEK 5 and 8bn in investment capacity. The divested business has had low returns during many years and a loss of SEK -169m during 2021. The continuing operation is improving. The comparable profit before tax increased for the quarter by 5 times, through increased collection performance and better loan portfolio quality” says Lars Wollung, CEO.

January – March 2022

  • Total operating income amounted to SEK 635m (365)
  • Profit before tax totalled SEK 155m (-108)
  • Cash EBITDA* amounted to SEK 1,475m (1,171)
  • Basic and diluted earnings per share amounted to SEK 1,00 (-1,75)
  • Return on equity* was 16% (-25)
  • Carrying value of acquired loans totalled SEK 17,724m (21,337*)
  • The CET1 ratio* was 9.90% (9.56)

Key events

  • Q1 result mainly an effect of robust collections, improved cost control and positive contributions from hedging
  • Rejuvenation program continuing and covers funding, investments, collection performance and costs
  • Announced agreement to divest the UK unsecured business, representing almost 20 per cent of total loan portfolio and releasing an investment capacity of between SEK 5 and 8bn
  • Remaining business had a comparable profit before tax** of SEK 80m (16), increase due to improved collection performance and better portfolio quality
  • Improved NPL portfolio market supply, but still aggressive competition

Figures in brackets refer to the first quarter of 2021 for profit comparisons and to the 31 December 2021 closing balance for balance sheet items. External revenue and expenses from operations in the UK held for sale are reported as earnings/loss from discontinued operations. Information provided in the interim report pertains to continuing operations, unless otherwise specified.
*Including discontinued operations.
**Adjusted for forward-looking impairments and net result from financial transactions.

A combined presentation and teleconference will be held at 11:00 AM CEST. To listen to the conference, please dial:

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For more information, please contact:
Ingrid Östhols, Head of Communications & Investor Relations
ir@hoistfinance.com
+46 72 506 1423

This information is information that Hoist Finance 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, at 07:30 a.m. CEST on 28 April 2022.

About Hoist Finance
Hoist Finance is a trusted debt resolution partner to individuals, companies and banks in eleven European countries. With almost 1,500 dedicated colleagues, smart digital solutions and a deep understanding of individual financial circumstances, we help over six million customers keep their commitments. This is achieved by agreeing on sustainable repayment plans so that everyone is included within the financial ecosystem. Hoist Finance has a diverse portfolio of asset classes and our online savings platform in Sweden, Germany and the UK enables our unique funding model. Hoist Finance was founded in 1994 and is today a public company listed on Nasdaq Stockholm. For more information, please visit hoistfinance.com.