B2HOLDING ASA: STRONG GROWTH AND IMPROVED OPERATIONAL
PERFORMANCE
Third quarter 2016
* Gross cash collection of NOK 474 million (352)
- up 35% y-o-y
* Operating profit of NOK 166 million (113)
- up 48% y-o-y
* Cash EBITDA of NOK 325 million (233)
- up 40% y-o-y
* ERC at end of month NOK 8,014 million (5,369)
- up 49% y-o-y
YTD September 2016
* Gross cash collection of NOK 1,314 million (924)
- up 42% y-o-y
* Operating profit of NOK 365 million (269)
- up 36% y-o-y
* Cash EBITDA of NOK 861 million (589)
- up 46% y-o-y
* Portfolio acquisitions of NOK 1,529 million (686)
- up 123% y-o-y
(Comparable numbers for Q3 and YTD September 2015 in
brackets)
B2Holding continued to improve operational performance, and
has further strengthened its position in key markets in Q3
2016.
The Group recorded an operating profit of NOK 166.4 million,
an increase of NOK 53.7 million (47.7%) compared to the Q3
2015 and an increase of NOK 53.0 million (46.7%) compared to
Q2 2016. The increase from second quarter is mainly due to
increase in net operating revenues, as most operating
segments continued the strong performance from second quarter
into the third quarter of 2016.
The Group successfully acquired portfolios for a purchase
price of NOK 255 million in the third quarter and has in
total purchased portfolios for NOK 1,529 million in the first
nine months of 2016 (up 123% y-o-y).
We see high activity in most markets where we operate, but
the actual timing of when portfolio transactions are closed
depends on several factors. Q3 is traditionally a less active
portfolio purchase period, as sellers usually wait until
half-year end or year-end to dispose of non-performing loans.
The acquisition of a large mortgage portfolio in Romania in a
joint venture with EOS was announced in Q3, with expected
closing in Q4.
For further information, please see the presentation and the
Q3 2016 report attached. The documents are also available on
the Company's website: http://www.b2holding.no
Attachments:
B2Holding ASA - Third quarter report 2016
B2Holding ASA - Third quarter presentation 2016
