STOCKHOLM, July 23, 2020
STOCKHOLM, July 23, 2020 /PRNewswire/ -- "As expected, the second quarter results have been impacted by COVID-19, however we see an improving trend in collections since April. Besides ensuring the safety of our customers and colleagues, we have during the quarter been fully operational in all our markets. We have also continued to focus on cost efficiency including IT investments, as well as the expansion of our nearshoring offices in Romania. Our digital collections level is record high at 19 per cent. As seen in previous financial crises, we anticipate that a significant share of the shortfall seen in the second quarter will be recovered over time. The forward-looking impairment related to COVID-19 effects incorporates lower collection trends in a prudent way, and sets us on a good path forward. Based on improved collections, a strong balance sheet and ample liquidity we anticipate acquisition activity to normalise in the fourth quarter," says Klaus-Anders Nysteen, Hoist Finance CEO.
April - June 2020
Figures in brackets refer to the second quarter of 2019 for profit comparisons and to the 31 December 2019 closing balance for balance sheet items.
Events during the quarter:
The information in this interim report has been published by Hoist Finance AB (publ) pursuant to the EU Market Abuse Regulation. This information was submitted by Andreas Lindblom for publication on 23 July 2020 at 07:30 AM CET.
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Interim Report Q2 2020