Q3 2024 B2 Impact ASA Earnings Call Transcript
Key Points
- B2 Impact ASA (STU:B28) reported a strong performance in unsecured collections, achieving 108% of the latest forecast.
- Operating expenses decreased by 7% compared to the previous year, reflecting successful cost reduction initiatives.
- The company completed a refinancing plan that significantly reduced the cost of debt, with an expected annual savings of NOK275 million.
- B2 Impact ASA increased its dividend for 2023 to NOK1.3 per share, providing a direct return of around 15% annually.
- The company maintains a strong investment pipeline and expects to meet its investment target of NOK2.5 billion to NOK3 billion for 2024.
- Cash collections were slightly down from the previous year, primarily due to lower REO sales and secured collections.
- The company has not invested in secured portfolios for several years, leading to a decline in secured collections.
- Interest costs, although reduced, still impact the bottom line, with further reductions expected in future quarters.
- The number of full-time employees (FTEs) has decreased significantly, which may impact operational capacity if not managed carefully.
- There is increased competition in the market, with some external funds entering the sector, potentially affecting investment opportunities.
Good morning, everyone. Welcome to B2 Impact third Quarter presentation.
Just a few practical topics. For those of you who want to ask questions live in the Q&A please use the second link in the invitation. And in today's Oslo Stock Exchange press release. You can also ask questions in the chat, but we will start with the live questions in the Q&A.
So with that, I will leave the word to you, Eric.
Thank you, Rasmus and Good morning, everybody. And welcome to third quarter 2024 presentation by B2 Impact.
I'm Erik Just Johnsen, I'm the group CEO. And with me today, I have the group CFO, André Adolfsen, and that will take you through the numbers.
Let's go to the slide for the quarterly highlights.
Normally the third quarter is a seasonally lower quarter. However, the positive trend that we have seen in collection both unsecured as well as secured over the past quarters continued into the third quarter. REO sales were
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
