Q4 2021 B2holding ASA Earnings Call Transcript
Good morning, and welcome to Q4 presentation for B2Holding. I'm Erik Johnsen, and with me today, I have André Adolfsen, CFO of B2Holding. The fourth quarter rounded off a good year for B2Holding. We have seen solid collection throughout the year and cost savings achieved during the pandemic are sustainable, and I'm very satisfied with the year-end result.
Let's move to the highlights for Q4. Our unsecured collection were once again solid in the quarter and security recoveries also performed above our forecast. REOs sales were lower than expected, but this is due to the fact that we pushed some larger REOs sales into 2022 to maximize the value on those REOs sales. On the operational side, we see achieved lower cost levels are sustainable. And we observed positive result of different initiatives related to automization and process optimization. The digital transformation as well as advanced analytics is continuing to be a key focus of the group. Over the last 2 years, the Q4 of 2019 and Q4 of 2021, we see a cost efficiency of 13% between those 2 quarters. And
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