Kredas Inkaso S.A. with its registered office in Warsaw ("the Company", "Issuer"), informs that in the course of works related to the preparation of financial statements, the Issuer identified significant positive changes in the item of estimated payments under claims acquired by the Issuer's Capital Group compared to the corresponding period of the year turnover 2017/2018.
The above-mentioned significant positive changes are as follows:
The amount of estimated payments made by debtors due to servicing portfolios purchased by the Issuer's Capital Group ("Repayments") in the first quarter of the financial year 2018/19 amounted to approximately PLN 56.8 million PLN, while in the first quarter of the fiscal year 2017/18 it amounted to PLN 41.7 million. The reported estimated change in the amount of Repayments of Debts, in the above-mentioned periods of the first quarter, showed an increase of 36%.
The Issuer reserves that the above values are only preliminary values that the Company identifies at the time. The final values will be presented in the quarterly report for the first quarter of 2018/19 or if this value significantly changed in the course of work, the next current report.
The amount of payments from debtors affects directly (though not as the only factor), on the level of net income, and consequently on the net profit and on the cash EBITDA generated by the Company.
The amount of debtors' payments is a derivative of, among others: (i) the operational efficiency of the Issuer, (ii) the size of the debt portfolio being serviced and (iii) the economic condition of debtors.
Source: company website, investor relations, current and periodic reports.