STOCKHOLM, Feb. 12, 2020 /PRNewswire/ -- We finished 2019 on a high note when making the fourth quarter the strongest quarter ever on acquisitions, including our single largest portfolio investment. Hoist Finance is now the market leader in the secured NPL segment in France, an asset class that is becoming increasingly important. We have also made substantial progress in a number of other areas such as the completion of the first-ever investment grade rated Italian securitisation backed by unsecured NPLs, as well as a number of rollouts in our strategy to become the digital leader in our industry.
"2019 was truly a year of execution. Having proven that we can execute on our strategy in a rather turmoil environment tells me that we are on the right track. We have put in place structures that protect our unique access to low cost funding and I feel confident that we will take important steps forward to improve our operations while maintaining our focus of helping people keep their commitments. We are starting 2020 with both confidence and optimism," - Klaus-Anders Nysteen, Hoist Finance CEO
October - December 2019
- Total operating income amounted to SEK 768m (766).
- Items affecting comparability before tax totalled SEK -47m and are attributable to securitisation expenses and to start-up expenses related to IT outsourcing.
- Profit before tax totalled SEK 147m (186).
- Profit before tax excluding items affecting comparability totalled SEK 194m (210).
- Basic and diluted earnings per share amounted to SEK 1.07 (1.59).
- Return on equity was 9 per cent (16).
- Return on equity excluding items affecting comparability was 12 per cent (18).
- Carrying value of acquired loans totalled SEK 24,303m (20,605).
- The total capital ratio was 14.01 per cent (14.14) and the CET1 ratio was 9.94 per cent (9.66).
Figures in brackets refer to the fourth quarter of 2018 for profit comparisons and to the 31 December 2018 closing balance for balance sheet items.
Events during the quarter
- Hoist Finance completed landmark transaction when closing the first-ever Italian investment grade rated securitisation backed by unsecured NPLs.
- Largest ever portfolio investment completed in France. This clearly positions Hoist Finance as the leader within the secured segment in a very promising market.
- Continued progress in ambition to become the digital leader. The ability to interact and make payments via WhatsApp in Italy and RCS in the UK are two examples of digital developments during the quarter.
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 12 February 2020 at 7:30 AM CET.
A teleconference for Investors, Analysts and media will be held at 09.30 AM CET. To listen in to the conference live, please dial:
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SOURCE Hoist Finance