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Kruk S.A. — Management Reports 2020
Oct 9, 2020
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Management Reports
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Current Report No. 35/2020
Date of the report: October 9th 2020
Subject: Expenditure on and recoveries from debt portfolios and theimpact of the epidemic on the KRUK Group's results
Legal basis: Art. 17(1) of MAR - Inside information
Text of the report:
In line with the adopted disclosure policy, KRUK S.A. (KRUK, theCompany) discloses the amount of expenditure on and recoveries from themanagement of debt portfolios purchased by the KRUK Group.
Q3 2020
The nominal value of debt purchased by the Group
Q3 2020 Q3 2019 change
PLN 133m PLN 734m -82%
The expenditure on debt portfolios purchased by the Group
Q3 2020 Q3 2019 change
PLN 33m PLN 83m -60%
The recoveries from the management of purchased portfolios purchased bythe Group
Q3 2020 Q3 2019 change
PLN 452m PLN 433m +4%
I-IIIQ 2020
The nominal value of debt purchased by the Group
I-IIIQ 2020 I-IIIQ 2019 change
PLN 825m PLN 4.022m -79%
The expenditure on debt portfolios purchased by the Group
I-IIIQ 2020 I-IIIQ 2019 change
PLN 113m PLN 392m -71%
The recoveries from the management of purchased portfolios purchased bythe Group
I-IIIQ2020 I-IIIQ 2019 change
PLN 1.346m PLN 1.307m +3%
The Company announces that the KRUK Group is taking steps to minimisethe adverse impact of COVID-19 on its assets and financial performance,and to prepare the Group to resume full investment and operatingactivity once the pandemic subsides.The Group's finances andliquidity position as at the end of the third quarter of 2020 and thedate of issue of this report remained stable. The KRUK Group enjoys astrong equity position (PLN 1987m as at June 30th 2020) and low debt(1.9 in a net debt/cash EBITDA ratio as at June 30th 2020). Estimatedvalue of cash and cash equivalents at September 30th 2020 were PLN 264m,an increase of PLN 14m compared with June 30th 2020. The undrawn linesof credit available to the Group as at September 30th 2020 totaled PLN1.181m, up by PLN 271m relative to the June 30th 2020.
The finally determined financial results for IIIQ 2020 will be disclosedin the report of the KRUK Group for IIIQ 2020, scheduled for issue onNovember 5th 2020.