B2 Impact Asa · OSL:B2I
B2 Impact Asa — B2Holding — SEB Nordic Seminar 2022
15 slides from B2 Impact Asa's conference presentation, Jan 11, 2022
Slide 1: Investor presentation
Investor presentation SEB Nordic Seminar, 11 January 2022 Photo: Adrian / Unsplash
Slide 2: Today’s presenters
Today’s presenters Erik Johnsen André Adolfsen Rasmus Hansson Chief Executive Officer Chief Financial Officer Head of Commercial Strategy & Investor Relations 2 B2Holding ASA SEB Nordic Seminar 2022
Slide 3: This is B2Holding
This is B2Holding NOKm YTD Q3’21 YTD Q3’20 Change % SEE Net revenues 2,310 2,264 2% 14% Adjusted EBIT 1,037 883 17% WE NE 12% Total ERC 41% Adjusted EBIT Margin 45% 39% 5.8pp NOK EBIT 1,042 869 20% CE 19.7bn 17% ERC 19,744 24,616 -20% Pol 16% Gross Collection 4,170 4,345 -4% #FTEs 2,037 2,276 -10% 2
Slide 4: One of the leading pan-European debt collectors
One of the leading pan-European debt collectors EBITDA (EURm) Cash EBITDA (EURm) 120m ERC (EURm) Intrum Intrum 849 Intrum 1,173 6,006 EOS 312 EOS N/A EOS N/A Lowell 227 Lowell 576 Lowell 4,053 Cabot 205 Cabot 390 Cabot 2,999 Kruk 181 Kruk 312 Kruk 1,716 PRA 179 PRA 666 PRA 2,660 doValue 160 doValue
Slide 5: Stronger and better positioned than pre-pandemic
Stronger and better positioned than pre-pandemic Key improvements Strong collections… … and lower cost base – Operational L12M Gross Collections (NOKbn)1 L12M Operating Expenses (NOKbn)2 improvements 5,9 1,8 1,8 1,8 – Increased effectiveness 5,4 5,6 5,5 5,7 5,7 5,7 5,5 1,8 1,7 1,7 1,7 1,6 and effici
Slide 6: Collection performance and improvements
Collection performance and improvements Unsecured collection performance REOs sold 4800 110% +30% Book Value 4500 105% 4200 159 Sales Proceeds 3900 102% 3 698 3 715 105% 3 506 3600 102% 3300 99% 100% 122 3000 2 786 2700 2400 100% 100% 100% 100% 95% 2100 1800 +51% 1500 90% 1200 40 900 85% 27 600 300
Slide 7: Improved cash earnings, investment capacity and deleveraging
Improved cash earnings, investment capacity and deleveraging Investments Cashflow L12M to Q3 2021 Additional investment capacity Cash earnings NOKm NOKm Increase 669 3,827 Decrease -48 Total 516 503 438 437 -1,087 264 237 204 192 220 2,670 -22 -779 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 1,891 Deleveraging Le
Slide 8: Strong historical financial performance
Strong historical financial performance Gross collections1 Net revenue1 Gross Collection Portfolio Acquisitions 10,000 Other Profit from JV Portfolios 9,500 9,000 – Strong collection 8,500 8,000 3,095 3,142 7,500 2,906 2,874 performance in all asset 6,380 7,000 516 571 5,659 6,500 5,484 378 classes
Slide 9: Portfolio investments and Estimated Remaining Collections (ERC)
Portfolio investments and Estimated Remaining Collections (ERC) ERC incl. REO book value Comments NOKm NPL REOs Gross Collection & Net Margin REOs – ERC of NOK ~20.9bn as of Q3 2021, of which ~75% unsecured claims – Northern Europe (NE1) represents the most important geography with 41% of ERC, follo
Slide 10: Conservative maturity profile and strong liquidity position
Conservative maturity profile and strong liquidity position Funding profile Comments EUR millions Outstanding bonds Utilised RCF Utilised bridge facility Treasury bonds Unutilised RCF B2H06 – Bond 2 repaid in October • Repayment via a combination of the RCF and the Bridge Facility I+3.25- • Cost of
Slide 11: ESG commitment showing results
ESG commitment showing results Substantially improved the ESG Risk rating from Sustainalytics, ESG Risk rating 9.3 ranking us at the top of our industry and within the top 1 % of rated companies globally – B2Holding is considered to be at negligible ESG risk: Negligible Risk • Low exposure of materi
Slide 12: Overview of the European NPL market (I/II)
Overview of the European NPL market (I/II) B2Holding covers ~75% of the total EU NPL market EU banks NPL per country (Q2’21) Total volume of bank NPLs in Europe exceed EUR 400bn. 140 Three largest markets account for +60% as of Q2’21 16,00% 15% 118 NPLs (EURbn) NPL ratio (%) 14,00% 120 12,00% 100 83
Slide 13: Overview of the European NPL market (II/II)
Overview of the European NPL market (II/II) B2 geographically well-positioned to capitalize on positive development in post-Covid NPLs YoY Stage 2 loans increase (+) / decrease (-) in B2 markets1 – NPL ratios in Europe have artificially declined in the aftermath Hungary of Covid-19, mainly due to 51
Slide 14: Resilient and flexible business model proven through Covid-19
Resilient and flexible business model proven through Covid-19 Organization & ESG – Strengthened management team and streamlined organizational structure – Commitment to ESG showing results – 3rd party confirmation and validation Operational – Unsecured collections: Continued positive trend with over
Slide 15: IR contact B2Holding ASA
IR contact B2Holding ASA Rasmus Hansson Stortingsgaten 22 Head of Commercial Strategy P.O.Box 1726 Vika N-0121 Oslo and Investor Relations +47 952 55 842 www.b2holding.no rh@b2holding.no +47 22 83 39 50 post@b2holding.no