B2 Impact Asa · OSL:B2I
B2 Impact Asa — B2Holding — Debt Investor Presentation (March 2023)
13 slides from B2 Impact Asa's debt investor presentation, Mar 23, 2023
Slide 1: B2Holding ASA
B2Holding ASA Pareto Securities - Nordic Corporate Bond Conference 23 March 2023 Photo: Adrian / Unsplash
Slide 2: This is B2Holding
This is B2Holding NOKm 2022 2021 ∆% SEE Cash collections 5,161 4,857 6% B2Holding 13% Cash EBITDA 3,996 3,779 6% Veraltis Asset Management2 WE NE 12% 38% Net revenues 3,085 3,036 2% NOK 20.2bn Adjusted EBIT 1,334 1,333 0% 15% CE Adjusted EBIT % 43% 44% -1 pp 22% Investments 2,6001 1,202 116% Pol ERC
Slide 3: ESG commitment showing results
ESG commitment showing results Substantially improved the ESG Risk rating from Sustainalytics, ESG Risk rating 8.7 ranking us at the top of our industry and within the top 1 % of rated companies globally – On 21 December 2022, the ESG Risk Rating was improved from 9.3 to 8.7 Negligible Risk – B2Hold
Slide 4: Significant deleveraging and improved performance over last 3 years
Significant deleveraging and improved performance over last 3 years 1 NOKm NPL REOs NIBD Cash EBITDA Adj. Net profit 1 140 1 014 927 932 946 934 895 957 973 949 910 862 16 584 15 710 15 636 14 776 13 587 13 556 13 601 12 990 13 187 13 059 13 168 13 196 12 175 12 285 11 886 11 068 9 910 9 645 9 127 9
Slide 5: The debt collection industry has proven resilient through cycles
The debt collection industry has proven resilient through cycles Long Term Macro Trends1 Market trends: GDP Growth y/y% Inflation (CPI y/y%) Unemployment Rates 15 – Inflationary pressure expected to soften during 2023 13 11 – Low and uncertain GDP growth projections for 2023 9 7 – Softening, but res
Slide 6: Maintaining capital discipline in changing market dynamics
Maintaining capital discipline in changing market dynamics NOK 2.6bn were invested in new portfolios in 2022 up 116 % vs previous year Changing market dynamics with increased capital discipline observed across the industry Higher cost of funding will be reflected in portfolio underwriting Near term
Slide 7: Last quarter highlights Yearly summary
Last quarter highlights Yearly summary – Continued strong performance in cash collections and – Finalized reorganization of secured business secured recoveries – Established Veraltis Asset Management – master and • Unsecured collections at 101.4 % of the latest forecast special servicer • Secured ca
Slide 8: Collection Performance excl. JVs
Collection Performance excl. JVs Unsecured collection performance REOs sold 926 115% +48% 903 885 853 848 106% 110% 581 104% 102% 102% 101% 105% 100% 392 95% +33% 90% 173 129 85% 80% Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4 '22 YTD '22 Collection Performance % Book Value Sales Proceeds Secured recoveries 81
Slide 9: Portfolio investments and Estimated Remaining Collections (ERC)
Portfolio investments and Estimated Remaining Collections (ERC) Growing cash collections and growth in ERC Portfolio investments in Q4 NOKm 1 NPL REOs Cash collection Gross collections Geographical distribution Asset class distribution SEE Unsecured NE Forward Flow 11% 20% 21% 1 458 1 278 NOK NOK 1
Slide 10: Solid liquidity and low leverage ratio
Solid liquidity and low leverage ratio Debt maturity profile, EURm1 Healthy maturity profile Outstanding bonds Utilised RCF Unutilised RCF Utilised SFA Unutilised SFA – Extensive bond refinancing completed • B2H03 fully repaid in October (EUR 145m) E+4.75% E+6.35% I+2.9-3.75% E+6.90% E+4.55% • EUR 1
Slide 11: Summary
Summary B HOLDING”
Slide 12: Key takeaways
Key takeaways Resilient collection Solid liquidity Continued focus Increased Deliver sustainable performance and with leverage ratio on sustainability investment pace profitable growth while growth in cash of 2,3x at end of with improved ESG and return to ERC maintaining price and metrics last quart
Slide 13: b2holding.no
b2holding.no B2Holding ASA Stortingsgaten 22 P.O.Box 1726 Vika N-0121 Oslo IR contact Rasmus Hansson www.b2holding.no Head of Commercial Strategy +47 22 83 39 50 and Investor Relations post@b2holding.no +47 952 55 842 rh@b2holding.no