Representatives of the company said that Kruk has not ruled out the possibility of investing about PLN 1.5 billion in new debt portfolios this year and next. The Budget for 2022 considers the year-over-year improvement in the Group’s net profit.
“From what we can see, analysts are beginning to expect PLN 1.5 billion acquisitions, and we are taking these gloves this year” – said Michał Zasępa during the video conference.
“The market is clear for PLN to spend $ 1.5 billion this year and next,” President Piotr Gruba added.
Representatives of the company estimate that the stated investment target for 2021 is “more realistic than the goal” and that it is ambitious to do it again in 2022.
In the three-quarters of 2021, Crook invested PLN 933 million, and 728 percent. yyyyy The company mainly invests in unsecured retail portfolios in Poland, but also in Italy, Spain, Romania, the Czech Republic and Slovakia.
At the end of October, Crook announced that it had won a tender to buy a large portfolio from one of the largest Polish banks, with a nominal value of PLN 1.3 billion.
“This portfolio worth PLN 1.3 billion will appear in investments in the fourth quarter, but that’s not all” – commented the President.
Crook’s management estimates that net profit will improve year-on-year in the 2022 budget.
“The outlook for Q4 2021 is positive, it will not be a strong quarter of the year, but it will most likely be a good outcome. The budget for 2022 is expected to grow, “said Zasępa.
“We have a very conservative approach to business, we are talking about improving results, we are talking about net profit (…) We are working on a budget that shows year-on-year growth,” Kiruba added.
The company still plans to share profits with shareholders in the form of dividends.
“We don’t have a dividend policy, but we want to continue to distribute profits, as we have been doing for 6-7 years,” Zasępa said.
After three-quarters of 2021, the Kruk Group’s net profit was PLN 565 million, 16 times higher than the previous year. Refunds from purchased portfolios were PLN 1,615 million and 20% higher. yyyyy Three quarters later the cash EBITDA was PLN 1,151 million, 26% higher. yyyyy
In the three-quarters of 2021, the Crook Group achieved total sales revenue of PLN 1,341 million, or 66 percent. More yy. The service revenue of purchased portfolios was PLN 1,208 million, an increase of 79%. yyyyy
In addition to Poland, Krug is present in Italy, Spain, Romania, the Czech Republic, Slovakia and Germany.
When asked about expansion in other markets, Zasępa replied: “Today we do not have a specific country, we do not budget for it in 2022, but we see countries that can put up our flag in a little while. Maybe sooner or later. It will happen.” .
“Current markets will not become too small for us + very soon
The company does not rule out possible acquisitions, not only of property portfolios but also of companies.
“We are eager to see every such project or opportunity. If we already do, but do not see the added value, the assets are of interest to us. However, in another market, we do not reject it where we do. The idea is to buy not only a portfolio, but also a company. But these are imaginary ideas, and the integration of companies is always a difficult and risky process, ”said a member of the Crook team. (PAP Business)
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