Total revenues for Q4 amounted to MNOK 313 (MNOK 367 in Q4 2023). The actual decline is due to a revaluation of portfolios totaling MNOK 61.
– Swedish authorities have amended the regulations regarding tax deductions on interest for consumer loans. Our calculations indicate that this legislative change has a negative impact on our portfolios, which is why we made a substantial write-down of our portfolios in Sweden, says Kredinor CEO Rolf Eek-Johansen.
– When we look at our actual performance in the fourth quarter, I am very pleased with the company’s development. Collection performance reached 101% in Q4, marking the fifth consecutive quarter of positive collection performance, says Eek-Johansen.
Key figures for Q4 and full year 2024
Collection performance was 101% in Q4, compared to 103% in Q4 2023. In the CMS business area, revenues amounted to MNOK 195 in Q4, up from MNOK 168 in Q4 2023.
Key figures for Q4:
Total revenues: MNOK 313 (MNOK 367 in Q4 2023)
EBITDA: MNOK 51 (MNOK 26)
Cash EBITDA: MNOK 286 (MNOK 236)
EBT: MNOK –59 (MNOK –127)
Key figures for full year 2024:
Total revenues: MNOK 1 467 (MNOK 1 187 in 2023)
EBITDA: MNOK 385 (MNOK 46)
Cash EBITDA: MNOK 1 168 (MNOK 1 158)
EBT: MNOK –202 (MNOK –501)
Looking ahead
– The Q4 figures confirm that we are following our financial plan, which will return the company to profitability at a level expected for this type of business. While 2024 has shown strong progress, there is still significant work ahead before Kredinor is fully stabilized. Nevertheless, we enter 2025 as a stronger company than we were at the previous year-end, says CEO Rolf Eek-Johansen.
For more information, please contact:
Jon Berge, Director of Communications
Phone: +47 905 98 680 / Email: jon.berge@kredinor.no
