Fourth quarter 2017
* Gross cash collection of NOK 723 million (556)
- up 30% y-o-y
* Operating profit of NOK 301 million (151)
- up 99% y-o-y
* Cash EBITDA of NOK 524 million (349)
- up 50% y-o-y
* ERC of NOK 15,264 million (9,489)
- up 61% y-o-y
(comparable numbers for Q4 2016 in brackets)
Year-end 2017
* Gross cash collection of NOK 2,552 million (1,870)
- up 36% y-o-y
* Operating profit of NOK 984 million (516)
- up 91% y-o-y
* Cash EBITDA of NOK 1,815 million (1,210)
- up 50% y-o-y
* Portfolio acquisitions of NOK 4,112 million (2,584)
- up 59% y-o-y
(comparable numbers for year-end 2016 in brackets)
B2Holding ("B2H") recorded its sixth consecutive record quarter in terms of operating performance, displaying strong growth in cash collection, cash EBITDA and operating profit. During the quarter, B2H added two new platforms and purchased record-high portfolio volumes, driving ERC to a new all-time high.
Cash EBITDA increased to NOK 524 million, +50% compared to Q4 2016 and +11% compared to Q3 2017. The operating profit grew to NOK 301 million (+99%) for the quarter and NOK 984 million for the year (+91%). Net profit hit NOK 157 million (+106%) and NOK 481 million (+166%) for the quarter and the year, respectively.
B2H purchased portfolios for a record-high of NOK 1,951 million during the quarter (+85%) and NOK 4,112 million for the year as a whole (+59%). ERC grew to a new all-time high of NOK 15,264 million, an increase of 61% compared to year-end 2016.
The Spanish- and Cypriot markets were entered in Q4 and Q1 2018 respectively, increasing the number of B2H-platforms to 21. The two countries combined represent more than EUR 160 billion in NPLs.
The Company successfully issued a new unsecured bond of EUR 200 million and increased the existing RCF with a EUR 100 million term loan. The announced rating process has been initiated and is expected to be completed in Q2 2018. The net interest-bearing debt per year-end was NOK 6,402 million.
The Board proposes to the AGM to approve a dividend of NOK 0.30 per share.
For further information, please see the Q4 2017 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 Wednesday 28 February at 17:15 CET:
Dial-in:+47 21 00 26 10 (Norway)
+44 (0)330 336 9105 (UK/International)
Pin: 348 2 395
Please dial-in 5-10 minutes prior to the conference call.
Contact persons:
Olav Dalen Zahl, Chief Executive Officer, B2Holding ASA
+47 909 86 386
Erik J. Johnsen, Chief Financial Officer, B2Holding ASA
+47 415 77 055
Attachments:
B2Holding ASA - Fourth quarter presentation 2017
B2Holding ASA - Fourth quarter report 2017
