Poland's Kruk posts higher 2025 profit as strong cash collections offset rising costs

Kruk SA

26/02/2026 16:42

GDANSK, Poland, Feb 26 (Reuters) - Poland's leading debt management company Kruk KRU.WA reported a rise in its 2025 net profit on Thursday, helped by robust cash collections that outpaced higher operating costs.

Full-year net profit rose to 1.09 billion zlotys ($304.32 million) from 1.07 billion zlotys a year earlier. Fourth-quarter net profit was 208.4 million zlotys, matching preliminary estimates.

• Fourth-quarter earnings were in line with preliminary results reported last week, which had triggered a drop of over 9% in the company's shares.

• Cash recoveries from purchased debt portfolios climbed 11% to 3.92 billion zlotys, with over half coming from foreign markets, driven by a 26% jump in Italy.

• Total revenue grew 10% to 3.19 billion zlotys, bolstered by a 66% surge in revenue from the Spanish market and a 21% increase in Italy.

• Operating costs excluding depreciation grew 8% to 1.55 billion zlotys, driven by higher wages, legal fees, and IT transformation expenses.

• Spending on new debt portfolio purchases fell 21% during the year to 2.22 billion zlotys, while net finance costs rose to 441.7 million zlotys on increased debt.

• Warsaw-listed Kruk buys and collects on portfolios of unpaid consumer and corporate debt, with core operations concentrated in Poland, Romania, Italy, and Spain.

($1 = 3.5817 zlotys)

 (Reporting by Marta Maciag, additional reporting by Rafal Nowak; Editing by Matt Scuffham)

 ((marta.maciag@thomsonreuters.com;))