Hoist Kredit AB: Hoist Finance Announces First Quarter Financial Results

STOCKHOLM--()--Regulatory News:

Hoist Kredit (STO:HOI):

· Gross cash collections totalled SEK 536 million, an increase of 72 per cent compared to January - March 2013 (SEK 312 million).

· Total revenue was SEK 356 million (SEK 229 million), up 57 per cent on the first quarter 2013.

· EBIT for the the first quarter 2014 totalled SEK 119 million, corresponding to an EBIT margin of 33 per cent. In January - March 2013, EBIT totalled SEK 81 million with a corresponding EBIT margin of 35 per cent.

· Portfolio acquisitions of SEK 434 million, an increase of 96 per cent relative to the same period in 2013.

· Carrying value of acquired loan portfolios as at 31 March 2014 of SEK 6,197 million (SEK 3,320 million as at 31 March 2013), corresponding to Gross 120 month ERC (estimated remaining collections) of SEK 10,958 million (SEK 5,685 million).

· Cash flow from operating activities totalled SEK -762 million in the first quarter of 2014 (SEK 1,594 million in January - March 2013).

· Capital adequacy ratio of 12.05 per cent of REA as at 31 March 2014 (9.50 per cent as at 31 March 2013).

The information above has been published pursuant to the Swedish Securities Markets Act (Sw. lag om värdepappersmarknaden).

This information was released for publication at 8.00 on 25 April 2014.

This information was brought to you by Cision http://news.cision.com

Contacts

Hoist Finance
Jörgen Olsson, CEO
or
Jane Niedra, IR
Phone +46 (0)8 55 51 77 90
Email: jane.niedra@hoistfinance.com

Sharing

Contacts

Hoist Finance
Jörgen Olsson, CEO
or
Jane Niedra, IR
Phone +46 (0)8 55 51 77 90
Email: jane.niedra@hoistfinance.com