Hoist Kredit AB: Year-End Report 2013
STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Hoist Kredit (STO:HOI):
Fourth quarter 2013
- Gross cash collections of SEK 519 million (SEK 241 million), up 115 per cent compared to the fourth quarter of 2012.
- Total revenue was SEK 226 million (SEK 114 million), an increase of 148 per cent.
- EBIT (earnings before interest and taxes) totalled SEK 127 million (SEK 22 million) corresponding to an EBIT margin of 26 per cent (10 per cent).
- Portfolio acquisitions of SEK 1,279 million (SEK 1,094 million), an increase of 17 per cent compared to the same period in 2012.
- Cash flow from operating activities totalled SEK -631 million (SEK 420 million).
- Issue of SEK 750 million in senior unsecured bonds in December.
Full year 2013
- Gross cash collections totalled SEK 1,641 million, an increase of 85 per cent compared to 2012 (SEK 887 million).
- Total revenue was SEK 1,281 million (SEK 643 million), up 99 per cent on 2012.
- EBIT for the year totalled SEK 334 million, corresponding to an EBIT margin of 26 per cent. In 2012, EBIT totalled SEK 151 million with a corresponding EBIT margin of 24 per cent.
- Portfolio acquisitions of SEK 3,267 million, an increase of 62 per cent relative to 2012.
- Carrying value at year-end of SEK 5,998 million (SEK 3,364 million), corresponding to Gross 120 month ERC (estimated remaining collections) of SEK 10,673 million (SEK 6,660 million).
- Cash flow from operating activities totalled SEK 1,275 million (SEK 461 million).
- SEK 350 million in subordinated loans issued in September. The bonds were listed on NASDAQ OMX in October.
- SEK 750 million in senior unsecured loans issued in December. The bonds were listed on NASDAQ OMX in January 2014.
- Capital quota of 1.44 (corresponding to 11.62 per cent of REA) as of 31 December 2013 (1.22 and 9.75 per cent of REA as of 31 December 2012).
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