Brief: Hoist Finance Announces SEK 350 Mln Negative Impairment And Provides Q1 Update

Hoist Finance AB (publ)

31/03/2021 21:59

March 31 (Reuters) - Hoist Finance AB (publ)  HOFI.ST :
    * HOIST FINANCE ANNOUNCES SEK 350 MILLION NEGATIVE
IMPAIRMENT AND
PROVIDES Q1 UPDATE
    * FOR 2020 AND Q1-21 COMBINED, TOTAL NEGATIVE FORWARD
LOOKING
IMPAIRMENTS AMOUNT TO APPROX. SEK 470M
    * HOIST FINANCE AB- DUE TO PROLONGED NATURE OF COVID-19
PANDEMIC,
UNCERTAINTY AROUND EXPECTED RECOVERY HAS INCREASED, PARTICULARLY
FOR LEGAL COLLECTIONS
    * DESPITE IMPAIRMENTS, CAPITAL POSITION REMAINS SOLID WITH A
CET1
RATIO FOR Q1 AT AROUND 10.0 PER CENT
    * HOIST FINANCE AB (PUBL) - IN TOTAL, THESE ADJUSTMENTS HAVE
A
NEGATIVE EFFECT ON ERC OF APPROX. SEK 470M (1.4 PER CENT OF
TOTAL ERC)
    * HOIST FINANCE AB (PUBL) - ACCOUNTING FOR ALL EFFECTS,
NEGATIVE
EBT IS EXPECTED AT APPROX. SEK 250MLN IN Q1

Source text for Eikon:  ID:nWkr9Y6Hwx 
Further company coverage:  HOFI.ST 

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