BEST S A : GK BEST increases returns and investment in new portfolios

GK BEST ended the third quarter of this year with 6% increase in the level of repayments from the portfolios managed by the Group. They amounted to PLN 100.8 million, against PLN 94.8 million a year ago. The amount of repayments due to the Group increased by 8%, up to PLN 89.6 million. GK BEST spent over PLN 10 million to purchase portfolios worth PLN 42.2 million in Q3.

From the beginning of 2022, total repayments from the portfolios managed by BEST have amounted to the record PLN 318.6 million, which is 5% more than in the corresponding period in 2021. Repayments due to the Group also increased by 5%, up to PLN 282.4 million. "The increasing repayments are due to the Group's steadily increasing operational efficiency and are also the first effects of investments in new debt portfolios made in past periods. I believe that we will not slow down in the current quarter, which will allow us to end 2022 with a definitely solid result," comments Krzysztof Borusowski, CEO of BEST.

In the three quarters of 2022, BEST Group invested PLN 59 million in claim portfolios with a nominal value of nearly PLN 240 million. CEO of BEST emphasises that the Group intends to systematically increase the portfolio of managed claims. "We actively participate in tenders, both on the Polish market and on the Italian market. Valuations of portfolios do not encourage us to significantly increase the scale of investments, therefore, we opt for selective groups, limiting business risk," adds Mr. Borusowski.

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Information about BEST S.A.

BEST Capital Group is one of the largest debt collection companies in Poland, and it invests actively in non-performing claim portfolios using securitisation funds. BEST S.A. has been listed at the Warsaw Stock Exchange (GPW) since 1997.

BEST, as a member and co-founder of the Association of Financial Companies in Poland, and a co-founder and moderator of the Good Debt Collection Practice actively contributes to the development and shaping of the claims market in Poland.

In 2021, repayments from the managed claim portfolios due to BEST Group reached nearly PLN 400 million, operating revenues amounted to over PLN 339 million and adjusted cash EBITDA exceeded PLN 218 million. The carrying amount of the managed claim portfolios at the end of 2021 was over PLN 1 billion.