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Kruk SAKruk debt collector assesses July as succesfull; points to stabilisation in Spanish market
Listed debt collector Kruk assesses that July was a successful month, observes a strong supply of receivables, and points out that the risk of further write-offs in Spain has now significantly decreased, group representatives told a conference following the release of Kruk's semi-annual financial report. The group maintains that investments in receivables portfolios throughout 2025 will amount to approximately PLN 2.5 billion (EUR 586.25 mln).
"July is behind us, and it was a successful month, so the results look good. We have PLN 805 million in investments, which is slightly less than at this time last year," Kruk's CEO Piotr Krupa told the conference.
"We confirm our ambition to invest over PLN 2 billion, between PLN 2 and 2.5 billion, in the markets this year, as we have already communicated at previous meetings," he added, idicating that the target is closer to PLN 2.5 billion (EUR 586.25 mln)..
In the first half of 2025, Kruk's expenditure on debt portfolios amounted to PLN 805 million (EUR 188.8 mln), with the largest share coming from investments in Poland (46 percent) and Italy (24 percent).
Kruk representatives pointed out that the risk of further write-offs in Spain has now significantly decreased.
"Looking at the situation today, at the end of August, it seems that the situation on the Spanish market is stabilising, which means that the risk of further write-offs in Spain has significantly decreased. I cannot say that it has disappeared, because that is never the case, but it is certainly a more stable situation today than we assessed it to be at the end of the first quarter. We are moderately optimistic," said board member Michal Zasepa.
The Kruk's net profit for the first half of 2025 amounted to PLN 584 million (EUR 136.95 mln), down 3 percent year on year. Repayments from acquired portfolios reached PLN 1.91 billion (EUR 447.9 mln), up 10 percent year on year, and cash EBITDA for the period stood at PLN 1.3 billion (EUR 304.85 mln), up 9 percent year on year.
"Our ambition is to achieve the incentive programme targets, which will result in year-on-year growth," Kruk's CEO Krupa told the conference.
The group's total revenue in the first half of 2025 amounted to PLN 1.6 billion (EUR 375.2 mln), up 8 percent year on year. Revenue from servicing acquired portfolios amounted to PLN 1.446 billion (EUR 339.1 mln), which represents an iincrease of 7 percent year on year.
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