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Interim report Q1 2021

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“Hoist Finance’s first quarter was impacted by the consequences of the pandemic and further lockdowns across Europe. Limited investment volumes in 2020 and forward-looking impairments in some portfolios, predominately in the UK and Spain, explain the negative profits in the quarter. The underlying financial performance adjusted for forward-looking impairments totals SEK 120m compared to SEK 110m in the first quarter last year. Collection performance remains solid at 103%, and our efforts to improve efficiency continue according to plan. In the quarter we acquired our first portfolio via the partnership with Magnetar Capital. So despite recent difficulties, we see a positive market outlook, supporting our priority to return to growth”, says Klaus-Anders Nysteen, Hoist Finance CEO.

January - March 2021

  • Total operating income amounted to SEK 319m (529)
  • Profit/loss before tax totalled SEK -246m (-61)
  • Adjusted for forward-looking impairments, profit/loss before tax totalled SEK 120m (110)
  • Earnings per share amounted to SEK -2.73 (-0.73)
  • Return on equity was -25 per cent (-6)
  • Carrying value of acquired loans totalled SEK 21,266m (21,075)
  • The total capital ratio was 15.59 per cent (16.49) and the CET1 ratio was 9.81 per cent (10.76)

Figures in brackets refer to the first quarter of 2020 for profit comparisons and to the 31 December 2020 closing balance for balance sheet items.

Events during the quarter:

  • Forward-looking negative impairment of unsecured portfolios of SEK –351m
  • Italian portfolio acquired in the securitisation programme
  • Digital collection run-rate at 24 per cent
  • Confirmed and extended financial targets at the Capital Markets Day
  • New business lines operational as of 1 January 2021.

Subsequent events:

  • At Hoist Finance Annual General Meeting 13 April 2021 Mattias Carlsson was elected Chairman of the Board. Fredrik Backman, Per Anders Fasth, Niklas Johansson, Helena Svancar and Peter Zonabend were elected as new members of the Board.
 

This information is information that Hoist Finance AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication by Andreas Lindblom at 07:30 A.M. CEST on 29 April 2021.

A teleconference for Investors, Analysts and Press will be held at 11:00 AM CEST. To listen in to the conference live, please dial:
SE: +46850558366 UK: +443333009264 US: +18338230586

The presentation will be held in English and broadcast live at: https://tv.streamfabriken.com/hoist-finance-q1-2021

For further information, please contact:
Andreas Lindblom, Head of Investor Relations
Telephone: +46 (0) 72 506 14 22

About Hoist Finance

Hoist Finance is a trusted debt resolution partner to individuals, companies and banks in thirteen European countries. With over 1.600 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 and Germany 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. 

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