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Interim report Q4 2020

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“Hoist Finance presents continued strong cash generation in the fourth quarter. Our digital efforts are showing, as we are on a record high 20 per cent all-digital collection rate. As a result of continued uncertainty caused by the pandemic, we have taken a prudent approach to valuation of portfolios, resulting in negative forward-looking impairments of SEK -49m. Looking forward, thanks to our solid capital and funding position, we are ready for growth in the increasingly positive market outlook for NPLs. Our purchasing capabilities is further strengthened by taking the next step in our securitisation programme together with Magnetar Capital. We are looking forward to a 2021 in which we will see positive effects from many of our improvement initiatives where implementation has started, and with benefits to come,” says Klaus-Anders Nysteen, Hoist Finance CEO.

October - December 2020

  • Total operating income amounted to SEK 648m (768).
  • Profit/loss before tax totalled SEK 68m (147).
  • Earnings per share amounted to SEK 0.31 (1.07).
  • Return on equity was 3 per cent (9). 
  • Carrying value of acquired loans totalled SEK 21,241m (24,513).
  • The total capital ratio was 16.49 per cent (14.01) and the CET1 ratio was 10.76 per cent (9.94).

Figures in brackets refer to the fourth quarter of 2019 for profit comparisons and to the 31 December 2019 closing balance for balance sheet items.

Events during the quarter:

  • Strong cash flow and collection performance (versus active forecast).
  • CET1 at 10.76 per cent, and well positioned for growth.
  • Successful issuance of senior bonds totalling EUR 200 million and repurchase of EUR 102 million senior bonds issued in 2017.
  • Launch of new operating model to support customer-centric and efficient operations.
  • Trust Index© of 77 per cent achieved in 2020 Great Place to Work® survey, demonstrating strong progress in line with the Hoist Finance sustainability strategy.

Subsequent events:

  • Pan-European securitisation partnership agreement for new portfolio investments signed with Magnetar Capital.

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. CET on 9 February 2021.

A teleconference for Investors, Analysts and Press will be held at 09:30 AM CET. To listen in to the conference live, please dial: SE: + 46850558352 UK: + 443333009263 US: + 18338230589

The presentation will be held in English and can also be followed live at: https://tv.streamfabriken.com/hoist-finance-q4-2020.

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 eleven European countries. With over 1600 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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