The listed group generated PLN 69.5 million worth of cash EBITDA in the second quarter of this year, up by 11 per cent year-on-year. Repayments from the managed portfolios of BEST in the last quarter amounted to PLN 121.2 million, compared to PLN 113.7 million in Q2 2022. The Group's net debt to equity ratio at the end of June 2023 decreased to 0.54, which is the lowest level in nearly a decade.

The Group's EBITDA for the first half of the year was PLN 117.7 million (PLN 119.4 million a year earlier). Claim repayments in H1 2023 increased by 2 per cent year-on-year to PLN 222.8 million. The Group's net result in the first half of the year was PLN 27.2 million, compared to PLN 135.8 million a year earlier. The latter amount, however, included PLN 112.4 million on account of the revaluation of portfolios.

The BEST started the second half of 2023 with PLN 391 million of net debt, compared to PLN 411 million at the end of 2022. The net debt-to-equity ratio at the end of June decreased to 0.54, which is the lowest in nearly a decade.

- In 2023, BEST Group is seeing increasing portfolio repayments and a stable income generated despite the challenging economic conditions. The balance sheet has allowed us to significantly upscale our operations, which we will want to achieve in both the Polish and Italian markets, commented Krzysztof Borusowski, President of the Management Board of BEST S.A.

In the first half of 2023, BEST Group invested PLN 35 million in claim portfolios. The value of portfolios managed by Group at the end of June this year was PLN 1.17 billion (PLN 1.18 billion at the end of December 2022). The President of the listed company emphasises that BEST Group plans to increase its investment on the claim portfolio market. - BEST Group's operational goal for the coming years remains a significant upscaling of our business, allowing us to better leverage the potential of our organisation. In the next few years, we are expecting to see a significant growth of the European debt market. We want to use this time to rescale our Group's business and strengthen its market position, added Borusowski.

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Information on BEST S.A.

BEST Capital Group is one of the largest debt collection companies in Poland, and it invests actively in non-performing claim portfolios using securitisation funds. BEST S.A. has been listed at the Warsaw Stock Exchange (GPW) since 1997.

BEST S.A., as a member and co-founder of the Association of Financial Companies in Poland, and a co-founder and moderator of the Good Debt Collection Practice actively contributes to the development and shaping of the claims market in Poland.

For more information, visitwww.best.com.plor contact us:

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BEST SA published this content on 13 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2023 06:06:22 UTC.