Brief: B2Holding Q1 EBITDA Up At NOK 330 Mln
04/05/2021 06:09
May 4 (Reuters) - B2holding ASA B2H.OL :
* CORPORATE UPDATE FOR THE FIRST QUARTER: SOLID COLLECTIONS, STRONG CASH
* Q1 EBITDA NOK 330 MILLION VERSUS NOK 255 MILLION YEAR AGO
* Q1 GROSS CASH COLLECTION NOK 1,494 MILLION VERSUS NOK 1,433 MILLION YEAR AGO
* POSITIVE DEVELOPMENT GROUP OBSERVED THROUGHOUT 2020, DESPITE IMPACT OF COVID-19, CONTINUED
INTO
2021.
* LEVEL OF NPL PORTFOLIOS SOLD IS STILL QUITE LOW COMPARED TO PREVIOUS YEARS
* INVESTMENT LEVEL IN Q1 HAS BEEN MODEST.
* IT MAY STILL TAKE SOME QUARTERS BEFORE NPL TRANSACTION LEVELS RESUME TO SAME LEVELS AS
BEFORE
PANDEMIC
* IT IS EXPECTED THAT LEGAL COSTS RELATED TO COLLECTIONS MAY INCREASE IN SECOND HALF OF 2021
* SOME LARGER CLAIMS THAT WERE DELAYED FROM Q4, HAVE BEEN RECOVERED IN LINE WITH OR ABOVE
EXPECTATIONS
* FUNDING COST HAS DECREASED IN Q1, MAINLY AS A RESULT OF REPAYMENT OF FIRST BOND
Source text for Eikon: ID:nObibNbpKa
Further company coverage: B2H.OL
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))