B2 Impact ASA: Third quarter results 2023

(Oslo, 2023-11-10)

Third quarter financial highlights:

* Cash collection of NOK 1,497 million (1,244)
- up 20% y-o-y

* Cash EBITDA of NOK 1,160 million (973)
- up 19% y-o-y

*Leverage ratio of 2.15x (2.41x)
- down 11% y-o-y

* Adj. EBIT of NOK 389 million (373)
- up 4% y-o-y

*Adj. Net profit of NOK 84 million (171)
- down 51% y-o-y

(Comparable numbers for Q3 2022 in brackets)

B2 Impact had net revenues of NOK 884 million in the third quarter and gross collections including SPVs and joint ventures of NOK 1,346 million. Collections remained strong in the third quarter.

Cash EBITDA was NOK 1,160 million and adjusted EBIT was NOK 389 million. Adjusted Net profit was NOK 84 million equivalent to adjusted earnings per share of NOK 0.22.

B2 Impact invested NOK 357 million in new portfolios in the third quarter. Of the invested amount 18 per cent were unsecured one-offs, 77 per cent were unsecured forward flows, and 5 per cent were secured. At the end of the quarter, the ERC was NOK 21.5 billion. At the end of the third quarter, the Group had spent and committed volumes of NOK 2.3 billion for 2023.

B2 Impact has a solid and diversified funding structure to support further growth. The healthy capital structure and leverage ensure liquidity and financial flexibility to deliver on the strategy going forward. The Group holds a EUR 610 million senior secured revolving credit facility (RCF) and two senior unsecured bond loans for a total of EUR 500 million.

On 29 September, Moody's upgraded its credit rating (corporate family rating) to Ba2 from previously Ba3. The senior unsecured bond rating is upgraded to Ba3 from previously B1. The outlook remains stable.

“The third quarter was an eventful quarter with launch of our new brand, B2 Impact, and a new organizational Group structure strengthening commercial focus and efficiency. The Group showed solid performance and strong cash flow in the quarter, and underlying operating expenses were down sequentially. As of today, we have invested and committed NOK 2.7 billion for 2023, and with our low leverage we have good capacity to grow going forward,” said Erik Just Johnsen, CEO B2 Impact ASA.

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For further information, please see the Q3 2023 presentation and report attached. The documents are also available on the Company's website: www.b2-impact.com

Definitions of alternative performance measures can be found in the report and presentation.
The results will be presented in an audiocast from 08:30 CEST today through this link:
https://channel.royalcast.com/landingpage/hegnarmedia/20231110_5/

Live viewers can submit their written questions for the Q&A in the provided form in the audiocast player. A recorded version of the audiocast will be available on-demand after the live stream is concluded.

For further information, please contact:

Rasmus Hansson
Head of Investor Relations and M&A
Mobile: +47 952 55 842
E-mail: [email protected]

or

André Adolfsen
CFO
Mobile: +47 930 19 150
E-mail: [email protected]

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About B2 Impact ASA
B2 Impact ASA is one of the leading pan-European debt management companies. B2 Impact offers solutions to the challenges created by defaulted loans, and provide liquidity to financial institutions, contributing to a healthier financial system. B2 Impact promote lasting financial improvement through transparent and ethical debt management. The Company was founded in 2011 and employs around 1,700 people. B2 Impact ASA is headquartered in Oslo, Norway and the B2 Impact share is listed on the Oslo Stock Exchange under the ticker "B2I". For further information, visit www.b2-impact.com (http://www.b2-impact.com/)