Hoist Kredit AB: Hoist Finance Announces Second Quarter Financial Results

STOCKHOLM, Sweden--()--Regulatory News:

-- Gross cash collections in January - June 2014 totalled SEK 1,151 million, an increase of 75 per cent compared to January - June 2013 (SEK 657 million).

-- Total revenue in January - June 2014 was SEK 759 million (SEK 490 million adj. for revaluations), up 55 per cent on the first half of 2013.

-- EBIT totalled SEK 253 million in January - June 2014, corresponding to an EBIT margin of 33 per cent. In January - June 2013, EBIT totalled SEK 138 million with a corresponding EBIT margin of 28 per cent.

-- Portfolio acquisitions of SEK 1,330 million in January - June 2014, an increase of 30 per cent relative to the same period in 2013.

-- Carrying value as at 30 June 2014 of SEK 7,386 million (SEK 4,450 million as at 30 June 2013).

-- Gross 120 month ERC on acquired loan portfolios of SEK 12,182 million as at 30 June 2014 (SEK 7,298 million as at 30 June 2013).

-- Cash flow from operating activities totalled SEK -1,822 million in January - June 2014 (SEK 1,839 million in January - June 2013).

-- Total capital ratio of 13.24 per cent of REA as of 30 June 2014 (12.94 per cent as at 30 June 2013).

-- Private placement to Toscafund of SEK 333 million in May.

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 24 July 2014.

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

Contacts

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

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Contacts

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