Poland's Kruk posts 49% fall in fourth quarter profit

Kruk SA

27/02/2025 16:45

GDANSK, Feb 27 (Reuters) -
Polish debt collector Kruk KRU.WA reported a 49% fall year on year in its fourth quarter profit on Thursday, mainly due to an 87 million zlotys decrease in revenue and 46 million zlotys increase in operating costs.

WHY IT'S IMPORTANT

Kruk, Poland's largest debt collection company, is aiming to double the size of its debt portfolio by 2029 while paying out at least 30% of its profits to shareholders, it said in January.

BY THE NUMBERS

Kruk's net profit was 115.2 million zlotys ($28.81 million) in the fourth quarter of 2024, in line with its preliminary estimate of 115 million zlotys.

Quarterly operating revenue declined 13% from a year earlier to 582.9 million zlotys (from 669.8 million zlotys), while operating profit fell nearly 45% to 165.6 million zlotys (from 298.7 million zlotys)

CONTEXT

In January, Kruk adopted a new dividend policy and said it aimed to invest 15 billion zlotys in debt portfolios and 500 million zlotys in digital transformation under its new strategy running from 2025 until 2029.

($1 = 3.9993 zlotys)

 (Reporting by Anna Banacka;Editing by Elaine Hardcastle)

 ((Anna.banacka@thomsonreuters.com; +48 58 769 65 65))