Second quarter 2018
* Gross cash collection of NOK 1,032 million (604)
- up 71% y-o-y
* Operating profit of NOK 356 million (217)
- up 64% y-o-y
* Cash EBITDA of NOK 759 million (420)
- up 81% y-o-y
* ERC at end of month NOK 20,119 million (11,881)
- up 69% y-o-y
(Comparable numbers for Q2 2017 in brackets)
B2Holding ("B2H") continued the positive operational growth and the second quarter 2018 represents another record quarter for the Group. The Group recorded all-time high levels in operating profit and Cash EBITDA and other key performance indicators. We see a strong outlook with the NPL portfolio pipeline at the end of the quarter with improved net portfolio returns in some markets.
The Group posted a record-high quarterly cash EBITDA of NOK 759 million, an increase of NOK 339 million compared to Q2 2017 (+81%). The operating profit hit NOK 356 million (+64%) and net profit increased to NOK 182 million from NOK 107 million in Q2 2017 (+69%).
In Q2 2018, B2H invested NOK 2,273 million in new portfolios, distributed over all segments. In the first six month of 2018, B2Holding has purchased portfolios for NOK 3,757 million. The Company has acquired portfolios for approx. NOK 6.4 billion over the last 12 months (+132%) and grown the total gross ERC to approx. NOK 20.1 billion (+69%). The development in ERC and Gross collection shows an increased diversification in asset classes and geographical distribution.
B2Holding ASA was early May 2018 assigned with a public rating: Moody's assigned a "Ba3" corporate family rating, and S&P has assigned a "BB-" long-term issuer credit rating.
In May B2H amended and increased the RCF with EUR 150 million, and successfully issued a new unsecured bond of EUR 200 million. At the end of the quarter, the Group has NOK 2.1 billion investment capacity, in addition to strong operating cash flow from collection on purchased loan portfolios supporting the growth capacity.
For further information, please see the Q2 2018 presentation and report attached.
The documents are also available on the Company's website: http://www.b2holding.no
A global investor call will be held Friday 31 August 2018 at 15:00 CET:
Dial-in Number: 21 03 30 53 (Norway)
+44 (0) 2071 928016 (International)
Direct event passcode: 1702359
Attachments:
B2Holding ASA - Second quarter presentation 2018
B2Holding ASA - Second quarter report 2018
