Key figures for the second quarter:
One of the reasons for the progress on the revenue side is that the important indicator collection performance remains strong. It was 106.2% in the second quarter of 2024, compared to 96.3% in the second quarter of 2023 (105.1% in the first quarter of 2024). Portfolios were written up by NOK 19.1 million, and Kredinor also sees growth in the CMS business area.
– Total revenue was NOK 406.5 million (NOK 335.2 million in Q2 2023)
– EBITDA was NOK 128.6 million (NOK 60.7 million in Q2 2023)
– Cash EBITDA was NOK 318.8 million (NOK 353 million in Q2 2023)
– EBT was NOK 1.7 million (NOK -54.1 million in Q2 2023)
The ownership structure in Kredinor was finalized in the second quarter, with SpareBank 1 Gruppen holding 68.64% and Kredinorstiftelsen holding 31.36%. This also means that all obligations under the subordinated loan have been fulfilled, and the loan has been terminated.
Nøkkeltall for andre kvartal:
En av årsakene til fremgangen på inntektssiden, er at den viktige indikatoren collection performance fortsatt er god. Den var på 106,2 % i andre kvartal 2024, mot 96,3 i andre kvartal 2023 (105,1 % i første kvartal 2024). Porteføljer ble skrevet opp med MNOK 19,1, og Kredinor ser også vekst innen forretningsområdet CMS.
– Totale inntekter var MNOK 406,5 (MNOK 335,2 i andre kvartal 2023)
– EBITDA på MNOK 128,6 (MNOK 60,7 i andre kvartal 2023)
– Kontant EBITDA var MNOK 318,8 (MNOK 353 i andre kvartal 2023)
– EBT på MNOK 1,7 (MNOK – 54,1 i andre kvartal 2023)
Eierfordelingen i Kredinor ble endelig avklart i andre kvartal, med Sparebank 1 Gruppens andel på 68,64 % og Kredinorstiftelsen med 31,36 %. Dette betyr også at alle forpliktelser i det ansvarlige lånet er innfridd og lånet er avsluttet.
Assessment of Kan AS
In line with the company’s strategy of renewed focus on core business, Kredinor is considering making structural changes in its subsidiary Kan AS. Kan is a digital financial advisory service purchased by companies to offer to their employees.
– We have developed a good service that already helps many individuals gain control over their finances. However, because it extends beyond our defined core business, it is beneficial to open up to a broader perspective to develop the service in the best possible way. Work on this will continue in the third quarter, says Eek-Johansen.
An important societal role
Kredinor continues its work on digitalization, cost-cutting, and a comprehensive review of the company to work more efficiently in today’s market.
– In this context, it is important for us to highlight the crucial societal role that Kredinor and other full-service debt collection companies play. We contribute to good liquidity in the business sector, which in turn provides job security, and we contribute to financial stability through our portfolio purchases, among other things, says CEO Rolf Eek-Johansen.
– Together with players such as our industry organization Finance Norway, we invite politicians and other decision-makers to dialogue to raise greater awareness around this.
En viktig samfunnsrolle
Kredinor fortsetter arbeidet med digitalisering, kostnadskutt og en helhetlig gjennomgang av selskapet for å kunne jobbe mer effektivt tilpasset dagens marked.
– I forbindelse med dette er det viktig for oss å få frem den viktige samfunnsrollen Kredinor og andre fullservice inkassoselskaper har. Vi bidrar til god likviditet i næringslivet og gjennom det trygghet for arbeidsplasser, og vi bidrar til finansiell stabilitet gjennom våre porteføljekjøp, for å nevne noe, sier CEO Rolf Eek-Johansen.
– Sammen med aktører som vår bransjeorganisasjon Finans Norge, inviterer vi til dialog med politikere og andre beslutningstakere fremover for å skape en større bevissthet rundt dette.
