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The biggest ever repayments and investments in new debt portfolios in 2016

In 2016 the Group recorded the biggest ever repayments from the debt portfolios managed by the Group as well as investments in new debt portfolio.

 

According to the report published by BEST, last year repayments due to the Group totalled PLN 180 million compared to PLN 139 million in 2015, which means an increase of 30% YoY. Throughout 2016 the Group earmarked PLN 258.3 million for investments in new debt portfolios, as a result acquiring debt portfolios with a total nominal value of PLN 2.3 billion, i.e. three times more than in 2015. Thanks to a consistently implemented strategy providing for systematically increasing the market share, the Group at present has a share of nearly 20 percent in the Polish debt market. As of 31 December 2016, the nominal value of the debt managed by the Group stood at PLN 12.8 billion, which places BEST among the leaders of the debt management market in Poland.

 

In 2016 the Group posted revenues from operating activities of PLN 210.3 million and a net profit of PLN 38.8 million. BEST Group delivered worse financial performance year-on-year mainly as a result of a decision to recognise impairment losses of PLN 69.3 million on the investment in Kredyt Inkaso. Excluding the impairment losses, the net profit would have been PLN 108 million in 2016 compared to PLN 82.2 million in 2015, and so would have increased by 31 percent YoY.

 

In 2016 the profit from operating activities rose to PLN 133.6 million compared to PLN 88.2 million in the preceding year as a result of expanding business as well as implementing technological and operating improvements.

 

“We had a successful year. At present the Group is in a very good condition, both in financial and operating terms. First of all, we are pleased with record growth in repayments from the debt portfolios managed by the Group, which enabled us to generate total operating revenues of PLN 210.3 million in 2016, so nearly 50% more than in the preceding year. Record high growth in investments in new debt portfolios deserves attention too. Last year we purchased 18 portfolios with a total nominal value of PLN 2.3 billion. Although we failed to complete the merger with Kredyt Inkaso announced in early 2016, we proved that we are able to set ambitious goals for ourselves and perform them consistently”, says Krzysztof Borusowski, President of the Management Board of BEST S.A.

 

“In December, we successfully migrated data and implemented SIGMA, our original operating system supporting the debt management process in the entire Group, finally adopting it for use from January 2017. Thanks to using innovative technological solutions provided by SIGMA, we have improved our operating efficiency considerably, which will enable us to continue expanding our business scale. There is no doubt that not only in operating and financial terms, but also in technological terms we are prepared to continue expanding the operations of the Group dynamically in Poland, but abroad too”, adds Krzysztof Borusowski.

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