|Bid||3.4200 x 183900|
|Ask||3.7060 x 173200|
|Day's Range||3.4940 - 3.5700|
|52 Week Range||1.7740 - 4.3380|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
"Hoist Finance's first quarter was impacted by the consequences of the pandemic and further lockdowns across Europe. Limited investment volumes in 2020 and forward-looking impairments in some portfolios, predominately in the UK and Spain, explain the negative profits in the quarter. The underlying financial performance adjusted for forward-looking impairments totals SEK 120m compared to SEK 110m in the first quarter last year. Collection performance remains solid at 103%, and our efforts to improve efficiency continue according to plan. In the quarter we acquired our first portfolio via the partnership with Magnetar Capital. So despite recent difficulties, we see a positive market outlook, supporting our priority to return to growth", says Klaus-Anders Nysteen, Hoist Finance CEO.
Hoist Finance will publish the interim report for the first quarter 2021 on Thursday, April 29, 2021, at approximately 07.30 AM (CEST). A combined presentation and teleconference for investors, analysts and media will be held at 11.00 AM (CEST).
Despite that total collection performance continues to be above the active forecast for the quarter (102 per cent), Hoist Finance has decided to make an impairment of approx. SEK -350m for the first quarter of 2021. In the first quarter, most jurisdictions have performed in line with or above the active forecast, which since Q2-20 takes the effects of the Covid-19 pandemic into account. This active forecast assumed reduced collections in 2020, but a gradual return to normality starting in 2021. However, due to the prolonged nature of the Covid-19 pandemic, the uncertainty around the expected recovery has increased, particularly for legal collections.