Q2 2024 B2 Impact ASA Earnings Call Transcript
Key Points
- Unsecured collections were 11% above the forecasted curve, indicating strong performance.
- REO sales achieved a 4% margin over book value, showcasing profitable transactions.
- The amended RCF will reduce the cost of funding, improving financial efficiency.
- The company has a solid financial position with low leverage and good liquidity.
- Cash EBITDA was strong at NOK1.3 billion for the quarter, significantly up from last year.
- Total collections are lower compared to last year due to limited new investments in secured NPLs.
- Secured cash collections are down compared to last year, indicating a decline in this segment.
- Higher legal collection costs are anticipated with increased investments, impacting operational expenses.
- The sale of loan receivable assets in Poland will have a smaller negative impact on other revenue in the coming quarters.
- The company has been cautious with investments due to higher interest rates, potentially limiting growth opportunities.
Good morning, everyone. Welcome to B2 Impacts Q2 presentation. My name is Rasmus Hansson, Head of IR. I'm here with Erik Johnsen, our CEO, and André Adolfsen, our CFO. I just want to remind you that you can now ask questions live by using the second link in the invitation and also in today's press release. Again, if you want to ask questions live, use this second link. You can also ask questions in the chat by using the first link. And with that, I'll leave the word to you, Erik.
Thank you, Rasmus, and good morning to everybody listening in and welcome to Q2 presentation for B2 Impact. I'm Erik Johnsen, as [Vice President] with me also Andre will take you through the financial statements later.
We had another good quarter in B2 second quarter this year. Our unsecured collections were once again solid in the quarter with collection 11% above our forecasted curve and secure recoveries also performed above our
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