The Board of Directors and CEO hereby present the 2023 Annual and Sustainability Report for Resurs Holding AB (publ).

2023 was characterised by a turbulent macro situation that affected Resurs. At the same time, a number of major new partner agreements were signed. The retailers who signed agreements with Resurs during the year include some of the leading brands in the Nordic region such as POWER, Gigantti, Webhallen and Euronics. At the same time, NetOnNet chose to extend its long and successful partnership with Resurs. 

– Our offering is competitive and the demand for our services is clear. Therefore I see great potential in a broader commercial offer to retailers. But to realise this, we need to change our approach to future technologies and strengthen internal expertise. I want to continue to build on our assets, while streamlining the operations to future-proof the company at the same time, says Magnus Fredin, who took over as CEO in November 2023 after serving on the board since 2022.

Together with the Board, Magnus Fredin has initiated an evaluation of the company’s future strategic direction.

– The aim going forward is to strengthen profitability and to reverse some of the negative trends we saw towards the end of the year, in particular with regard to our credit losses.

Both the market in general and Resurs were affected by the turbulent macroeconomic situation during the year, which led to increased credit loss provisions towards the end of the year.  
 
– Since autumn 2022, we have actively implemented tightening measures in a multi-step process to increase the quality of our new lending, and we continue to make further improvements on an ongoing basis. It will take some time before we see the effects, among other things due to seasonal effects during the beginning of the year.

Resurs has a stable financial position, and at year-end Resurs’ liquidity amounted to over SEK 8 billion and the capital position is strong.
 
– We have a long history of good growth and profitable business. I want to build on this now to create additional opportunities for the future. I’m grateful for the trust that has been put in me to lead Resurs, and I look forward to presenting more information about our performance in the coming months, says Magnus Fredin.
 
FOR MEDIA CONTACTS
Måns Renntun, Chief Communication & Marketing Officer, +46-709849620, mans.renntun@resurs.se

ABOUT RESURS HOLDING
Resurs Holding (Resurs), which operates through the subsidiary Resurs Bank, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately six million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of Finansinspektionen. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the fourth quarter of 2023, the Group had 660 employees and a loan portfolio of SEK 38.8 billion. Resurs is listed on Nasdaq Stockholm.

This information is information that Resurs Holding is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-03-21 08:00 CET.

Attachments
Resurs Holding Annual And Sustainability Report 2023

© Modular Finance, source Nordic Press Releases