- The operating revenue of the BEST Group grew by over 50% in H1 2015 compared to H1 2014. Net profit attributable to BEST Shareholders grew by 34%, year-on-year.
- On Wednesday BEST allotted its series L1 bonds to investors. Proceeds from the issue amounted to PLN 60 million.
Q2 2015 was another quarter in a row in which the BEST Group, one of the leading companies in the debt collection market in Poland, recorded dynamic growth of its financial results. Consolidated operating revenue in the period amounted to nearly PLN 46 million, up by 45% compared to Q2 2014. Net profit attributable to BEST Shareholders for Q2 2015 reached PLN 24 million, which represents a 27% increase year–on-year.
The cumulative operating revenue of the BEST Group for H1 2015 reached nearly PLN 80 million, up by 52% compared to H1 2014. Net profit attributable to BEST Shareholders for the first six months of 2015 amounted to nearly PLN 38 million, an increase of 34%.
‘This year the BEST Group's financial results reflect the positive effects of our previous investments, primarily the acquisition of full control over BEST II NSFIZ in Q4 2014. The revenues and costs of the Fund are now presented in the BEST Group's financial statements. This translates into the dynamic growth in performance recorded this year by our Group,’ said Krzysztof Borusowski, CEO of BEST.
This year the BEST Group is also more active in the debt trading market. Through its investment funds, in H1 2015 the Group purchased non-performing debt portfolios with a total nominal value exceeding PLN 431 million, thus spending nearly PLN 65 million. The investment activities resulted in an increase in revenues, in particular a dynamic growth in debt repayments.
Despite significant investments financed mainly through the issuance of bonds, the BEST Group’s debt ratio, calculated as net debt-to-equity ratio, remains low. At the end of H1 2015 it stood at 0.85, while the allowable value for this ratio, specified in terms of the bonds issued by BEST, ranges between 2.0 and 2.5.
This means that the BEST Group continues to have great potential for debt financing and investment opportunities. The Company has just carried out the issue of series L1 bonds addressed to institutional investors, with a value of PLN 60 million. The bonds were allotted on Wednesday, 26 August. The issue of series L1 bonds was the fifth issue carried out by BEST as part of the public programme worth up to PLN 300 million launched in 2014. Under this programme, the Company can issue more bonds with a value of up to PLN 90 million.
*Net profit attributable to BEST Shareholders;
Pursuant to the terms and conditions of bonds issued by BEST, the maximum value of the debt ratio may range between 2.0 and 2.5.
General information about BEST
BEST S.A. has been listed on the Warsaw Stock Exchange since 1997. The company specialises in the trading and management of non-performing receivables. The BEST Group actively invests in portfolios of receivables (mainly in the banking sector) with the use of securitisation funds as well as providing debt collection services by order and on behalf of banks, telecommunications and energy companies as well as other entities providing services on a mass scale.
BEST is also the sole shareholder of BEST TFI, which was granted a business licence by the Polish Financial Supervision Authority in 2008. The combination of expertise in debt collection and in the establishment and management of investment funds has enabled our company to place all the elements of its business model together within one capital group.
BEST TFI currently manages four funds, including three securitisation funds: BEST I NSFIZ, BEST II NSFIZ and BEST III NSFIZ, the assets of which include portfolios of receivables of a total nominal value of PLN 9 billion (as of the end of the first quarter of 2015), and the BEST Capital FIZAN fund of non-public assets.
For further information, please visit our website: www.best.com.pl, or contact us:
Tel. 22 826 74 18 / Mob. 516 173 691
Tel. 22 826 74 18 / Mob. 514 985 845