STOCKHOLM, May 6, 2020 /PRNewswire/ -- "Hoist Finance underlying business in most markets remains resilient and robust given the current circumstances. The impact of Covid19 was visible towards the end of the quarter, which affected the final stage of the quarter's collections negatively, primarily in Spain and Greece. The focus, however, has been to ensure business continuity by quickly organizing so that all employees can work remotely, and that we keep the same level of customer interaction by having fully operational customer contact centres. Our fast adaptation to this new reality is proof that we are well underway in our digital strategy, and that our business model is strong even in challenging times," says Klaus-Anders Nysteen, Hoist Finance CEO
January - March 2020
- Total operating income amounted to SEK 529m (774).
- Items affecting comparability before tax totalled SEK -153 and are attributable to revaluation of portfolios in Spain, unrealised loss on interest rate swaps and unrealised loss on market value in liquidity buffer.
- Profit before tax totalled SEK -61m (226).
- Profit before tax excluding items affecting comparability totalled SEK 92m (226).
- Basic and diluted earnings per share amounted to SEK -0.69 (1.79).
- Return on equity was -7 per cent (17).
- Return on equity excluding items affecting comparability was 5 per cent (17).
- Carrying value of acquired loans totalled SEK 24 705m (24 303).
- The total capital ratio was 14.83 per cent (14.01) and the CET1 ratio was 9.52 per cent (9.94).
Figures in brackets refer to the first quarter of 2019 for profit comparisons and to the 31 December 2019 closing balance for balance sheet items.
Events during the quarter
- Ensured business continuity during the Covid-19 outbreak, securing customer interactions through fully operational contact centres.
- Impairment of Spanish portfolios due to acceleration of operational challenges.
- Establishment of a new sustainability strategy. The strategy outlines ESG goals and indicators, which together with the extensive reporting puts Hoist Finance as a front-runner in the debt resolution industry.
- Successful AT1 issue further strengthening the capital structure.
The information in this interim report has been published by Hoist Finance AB (publ) pursuant to the EU Market Abuse Regulation. This information was submitted by Andreas Lindblom for publication on 6 May 2020 at 7:30 AM CET.
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SOURCE Hoist Finance