2022 Nov 15
PlusPlus Capital reports unaudited 9M 2022 results
Invitation to earnings webcast/call on 17 November 2022
Tallinn, Estonia, 15 November 2022. PlusPlus Capital (“PPC”), a leading Pan-Baltic and Finnish technology-driven receivables management group, has published its unaudited 9M 2022 results posting a successful business performance in the reporting period.
In the nine-month period of 2022, PlusPlus Capital achieved an increase in payments received from clients by almost 21% to EUR 15.9 million. Cash EBITDA nearly doubled to EUR 11.4 million. Expected Remaining Collections (ERC) increased by 13.0% to EUR 183.5 million as of 30 Sep.´22 (31 Dec. ´21: EUR 162.4 million). Net profit amounted in 9M ´22 to EUR 1.6 million (9M ´21: EUR 4.7 million)*.
Eurobond covenant ratios were in line with terms and conditions.
The full 9M report is available on the Company’s website at:
https://pluspluscapital.eu/investor-relations/reports-and-presentations/
* Income statement figures are only comparable to a limited extent following the change in accounting methodology from fair value through profit and loss (FVTPL) to amortized cost (AC) at the beginning of the current financial year.
Earnings Call:
PlusPlus Capital cordially invites investors and analysts to an earnings webcast/call with the Management Board on 17 November 2022, 11.00 CET.
CEO Krõõt Kilvet and CFO Rasmus Noormägi will comment on the unaudited results as well as the recent developments by means of a webcast presentation. The webcast/call will be held in English.
Please register in time to participate in the webcast/call at:
PlusPlus Capital – Earnings Call Q3 2022.
Contact:
PlusPlus Capital
Peeter Piho, Chairman of the Supervisory Board
Email: peeter.piho@plusplus.ee
Phone: +372 503 0130
Aalto Capital (Investor Relations)
Sven Pauly, Consultant
Email: sven.pauly@aaltocapital.com
Phone: +49 89 898 67 77 0
About PlusPlus Capital:
PlusPlus is a pan-Baltic and Finnish technology-driven receivables management company with offices in Tallinn, Riga, Vilnius, and Helsinki. The Company acquires overdue loans and other non-performing exposures from financial institutions and non-financial sector merchants. With its core competence in handling claims against private individuals, PlusPlus prefers diversified portfolios balanced by geography, portfolio type, and other metrics.
Since its inception in 2010, PlusPlus has bought over 100 thousand claims with nominal value of approximately EUR 274 million as at 30 June 2022. The Company offers its clients affordable recovery solutions and aims to avoid litigious scenarios. In doing so, PlusPlus pursues win-win solutions that allow sellers to focus on their core business, provide affordable solutions for borrowers, and ensure adequate returns for investors.
PlusPlus is a transparent and socially responsible company set to assist people in resolving problems connected with their insufficient solvency. The ambition of PlusPlus is to increase its market share and further strengthen its position as a leading player in its regional market.