Today, the Management Board of KRUK S.A. has released the Group's audited financial results for 2023. At PLN 984 million (+22% y/y) and PLN 2,104 million (+16% y/y), respectively, both net profit and cash EBITDA came in at the highest full-year levels in the Group's history. Compared to the unaudited figures reported in February after the fourth quarter of 2023, the net profit has been adjusted down by PLN 28.5 million but still remains at an all-time high.

Furthermore, the Supervisory Board of KRUK S.A. has today endorsed the Management Board's recommendation for a dividend distribution of PLN 347.7 million, or PLN 18 per share.

"I am extremely pleased with KRUK's achievements last year and the journey we've made to be able to report record-breaking results. A net profit of PLN 984 million is a historic high for us. The year 2023, in which we celebrated KRUK's 25th anniversary, saw us also reach several other milestones, including nearly PLN 3 billion in investment in new debt portfolios, over PLN 3 billion in recoveries, and more than PLN 2 billion in cash EBITDA. Given the Group's current position and our ambition for further growth, we recommended to the Supervisory Board a dividend payout of PLN 18 per share. The very same day, the Supervisory Board endorsed our proposal, and if our shareholders concur, we will distribute a record dividend of PLN 348 million, i.e. 35% of the 2023 net profit,"comments Piotr Krupa, President of the Management Board and CEO of KRUK S.A. "KRUK has evolved from a small local firm into an international corporate group with the highest market capitalisation among public companies in our industry. In my opinion, the world's best companies are those that balance growth with the distribution of a portion of their earnings to shareholders. We value investors who believe in our business model and strategy. We intend to allocate the remainder of the net profit to statutory reserve funds and, of course, use it to drive further growth. We see significant ongoing investment potential in Poland and our other geographies and are continuously striving to enhance operational efficiency and leverage technological transformation. We aim to make the most of the present time," concludes Piotr Krupa.

In connection with the ongoing corporate income tax (CIT) audit for 2018-2020, in the Company's audited financial statements for 2023 a provision was recognised for a possible additional CIT payment of PLN 28.5 million. This figure reflects the Management Board's estimate and relates to both the years covered by the audit and subsequent years and includes interest.

The full audited report is available here

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KRUK SA published this content on 27 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 March 2024 16:36:47 UTC.