Q4 2020 Kruk SA Earnings Call Transcript
Hello, again. Let's start. It's my pleasure to welcome you to 2020 results of KRUK Group. My name is Michal Zasepa, I'm the CFO of the company. We finished 2020, a difficult year, maybe the most difficult year in our history. But we finished it with profit and with a very good cash EBITDA with very strong cash flow and very low level of leverage.
So I think we are -- we can say we won this uneven work with the pandemic situation. And we are prepared now to go back to growing. And the business as last quarter was very good for KRUK and the beginning of this year is also very good.
I will, of course, concentrate mostly on 2020, but this is the history. And I think -- and we, as a management team, think the future is quite promising for KRUK. You see here on the Slide 3, we had a very bad Q1. But then later, we were profitable. The profitability was slow, and I will explain how to, in my view, interpret these results. But the good information is that throughout the year starting from May, we saw an increasing
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