Correction of understated ERC in Hoist Finance interim report Q1 2024

A correction has been made in the interim report published by Hoist Finance AB (publ) on 3 May at 7:30 CEST.

In Hoist Finance's interim report for the first quarter of 2024, the key ratio ERC (Estimated Remaining Collections) was incorrectly stated to amount to SEK 39,284 million (the key ratio appeared on pages 1 and 8 in the key ratio tables). The correct amount should be SEK 42,487 million.

ERC is a forward-looking measure of the company's best estimate of how much cash flow that will be generated from the total portfolio over the remainder of its life. A higher figure is generally better. The ERC has no impact on other figures or data in the report.

A corrected version of Hoist Finance’s interim report Q1 2024 and Financial Fact Book Q1/2024 is available as an attachment to this press release and published on the company's website.

For information please contact:
[email protected]
+46 8 55 51 77 90
 

About Hoist Finance

Hoist Finance is an asset manager specialised in non-performing loans. For more than 25 years, we have focused on investing in and managing debt portfolios. We are a partner to international banks and financial institutions across Europe, acquiring non-performing loan portfolios. We are also a partner to consumers and SMEs in a debt situation, creating long-term sustainable repayment plans enabling them to convert non-performing debt to performing debt. We are present in 13 markets across Europe and our shares are listed on Nasdaq Stockholm. For more information, please visit hoistfinance.com.