Hoist Finance interim report Q1 2023

“We have had a good start of the year with high investment levels, strong collection performance, intensive continued rejuvenation activities and a financial result showing that we are moving towards achieving our financial objectives” says Harry Vranjes, CEO.

Key highlights

• Profit before tax of SEK 162m adjusted for rejuvenation cost of SEK 18m, increased by 113 per cent compared to the first quarter 2022¹⁾
• Reported return on equity of 6 per cent. Adjusted for normalised capitalisation levels and rejuvenation costs the return on equity is approx 10 per cent²⁾
• Portfolio book value increased by 29 per cent, adjusted operating income increased by 34 per cent and adjusted operating expenses increased by 22 per cent compared to the first quarter 2022¹⁾
• Strong collection performance of 105 per cent compared to plan
• First quarter portfolio investments amounted to SEK 1.9bn
• A stable funding base and improved competitive position in an uncertain and volatile macro environment
• Robust capital and liquidity position materially above regulatory requirements. The CET1 ratio increased by 52 per cent compared to the first quarter 2022

1) To illustrate underlying business performance, the comparative quarter in 2022 on page 6 in the report is adjusted for the divested UK operations and aligned to the hedge accounting introduced 1 July 2022
2)  See page 6 in the report

January - March 2023

• Total operating income amounted to SEK 766m (635)
• Profit before tax totalled SEK 144m (155)
• Adjusted profit before tax was SEK 162m (76)
• Profit for the period was SEK 93m (179)
• Basic and diluted earnings per share amounted to SEK 0.66 (1.00)
• Return on equity was 6% (16)
• Normalised return on equity was 10% (3.5)
• Book value of acquired loan portfolios totalled SEK 22,892m (17,724)
• The CET1 ratio was 15.01% (9.90)

A combined presentation and teleconference will be held at 09:30 am CEST.

If you wish to participate via webcast, please use the link below.
https://ir.financialhearings.com/hoist-finance-q1-2023

If you wish to participate via teleconference, please register on the link below. After registration you will be provided a phone number and a conference ID to access the conference. You can ask questions verbally via the teleconference. 
https://conference.financialhearings.com/teleconference/?id=200721

The presentation and the report will be available on www.hoistfinance.com after the publication.

For more information, please contact:
Christian Wallentin, CFO and deputy CEO
ir@hoistfinance.com
Tel: +46 8 55 51 77 90

The information in this interim report has been published by Hoist Finance AB (publ) pursuant to the EU Market Abuse Regulation and the Securities Market Act. This information was submitted for publication through the agency of the contact person set out above, on 4 May 2023, kl 07.30 CEST.

About Hoist Finance  
Hoist Finance is an asset manager specialised in non-performing loans. For more than 25 years, we have focused on investing in and managing debt portfolios. We are a partner to international banks and financial institutions across Europe, acquiring non-performing credit portfolios. We are also a partner to consumers and SME’s in a debt situation, creating long-term sustainable instalment plans enabling them to convert non-performing debt to performing debt. We are present in 13 markets across Europe and our shares are listed on Nasdaq Stockholm. For more information, please visit hoistfinance.com.