Interim report Q1 2021

Interim report Q1 2021
STOCKHOLM, April 29, 2021 /PRNewswire/ -- "Hoist Finance's first quarter was impacted by the consequences of the pandemic and further lockdowns across Europe. Limited investment volumes in 2020 and forward-looking impairments in some portfolios, predominately in the UK and Spain, explain the negative profits in the quarter. The underlying financial performance adjusted for forward-looking impairments totals SEK 120m compared to SEK 110m in the first quarter last year. Collection performance remains solid at 103%, and our efforts to improve efficiency continue according to plan. In the quarter we acquired our first portfolio via the partnership with Magnetar Capital. So despite recent difficulties, we see a positive market outlook, supporting our priority to return to growth", says Klaus-Anders Nysteen, Hoist Finance CEO.

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