Best S.a. · GPW:BST
Best — Q1 2025 Earnings Presentation
21 slides from Best's earnings presentation, May 21, 2025
Slide 1: BEST Group Presentation of Financial Results for Q1 2025
BEST GROUP PRESENTATION OF FINANCIAL RESULTS FOR Q1 2025 . Gdynia, 21 May 2025
Slide 2: Key Information
/01 BEST GROUP, Q1 2025 KEY INFORMATION PREZENTACJA PRESENTATIONWYNIKÓW ZA IFOR OF RESULTS KW.Q12025 2025R.
Slide 3: Summary: Key events at BEST Capital Group in Q1 2025
SUMMARY Key events at BEST Capital Group in Q1 2025 ▪ Merger of BEST with Kredyt Inkaso; issue of 5.8 million BEST shares to Kredyt Inkaso’s shareholders ▪ New appointment to the Management Board ▪ Merger of funds and liquidation of the BEST3 fund ▪ Higher repayments from claim portfolios held ▪ Sta
Slide 4: Non-Performing Debt Market in Poland
/02 NON-PERFORMING DEBT MARKET IN POLAND PREZENTACJA PRESENTATIONWYNIKÓW ZA IFOR OF RESULTS KW.Q12025 2025R.
Slide 5: Poland – Non-Performing Bank Debt Market
POLAND – NON-PERFORMING BANK DEBT MARKET Debt market situation in Q1 2025 BANK NPLs –supply of claim portfolios (retail and mortgage-backed portfolios, primary market) ▪ Maintained a high level of bank portfolio supply, comparable to Q1 2024 12 0,500 ▪ Demand and portfolio prices still high 1,6 3,8
Slide 6: Poland – Other Sectors Market
POLAND – OTHER SECTORS MARKET TELECOMS LENDING COMPANIES 0,8 1,2 0,500 0,60 0,450 0,7 1,1 0,7 1,0 0,400 0,6 0,50 34% 35%* 0,350 0,8 0,5 0,5 0,5 0,6 0,40 0,300 28% 0,4 0,6 24% 0,250 28% 0,30 21% 0,200 0,3 26% 0,5 0,5 23% 0,4 20% 0,20 0,150 0,2 19% 0,100 0,2 0,1 0,1 0,10 0,050 0,2 0,1 0,0 0,00 0,0 0,0
Slide 7: BEST's Claim Portfolio Investments
BEST’S CLAIM PORTFOLIO INVESTMENTS 350 321 30% 311 301 300 273 25% 283 25% 258 222 24% 22% 22% 250 214 20% 200 15% 15% 150 13% 11% 11% 132 10% 100 9% 157 6% 50 5% 78 45 81 10 48 40 29 28 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 IQ1 kw.2025 2025 Q1 – acquisition cost (PLN million) Q2-Q4 - ac
Slide 8: Operating and Financial Results of BEST Capital Group
/03 OPERATING AND FINANCIAL RESULTS OF BEST CAPITAL GROUP PREZENTACJA PRESENTATIONWYNIKÓW ZA IFOR OF RESULTS KW.Q12025 2025R.
Slide 9: Q1 2025 at a Glance
Q1 2025 AT A GLANCE Claim repayments (PLN Operating income Cash EBITDA (PLN million) Net profit attributable to million) (PLN milion) BEST shareholders 150 150 150 150 (PLN million) 112 119 101 100 100 90 90 100 100 10 84 7 5 9 7 61 61 7 119 48 50 112 50 50 50 91 86 71 75 15 20 4 0 0 -3 0 0 1Q 2023
Slide 10: Operating Efficiency
OPERATING EFFICIENCY Operating expenses Operating profit (PLN million) Equity (PLN million) Net debt (PLN million) (PLN million) 100 100 1000 898 894 1000 2,00 100% 742 774 750 750 750 61 80% 622 1,50 56 55 50 15 50 500 60% 500 1,00 17 12 49% 48% 35 47% 0,83 0,83 0,87 28 29 40% 45 250 250 0,50 39 42
Slide 11: Two Markets – Poland and Italy
TWO MARKETS – POLAND AND ITALY Operating revenues by market (PLN million)) Value of portfolios by market (PLN million) 100 1 600 1 590 1 594 90 90 84 1 342 1 200 50 800 79 80 75 1 182 1 297 1 270 400 293 324 15 6 10 160 0 0 1Q 2023 1Q 2024 1Q 2025 2023 2024 1Q 2025 Poland Italy total Poland Italy to
Slide 12: Operating Expenses
OPERATING EXPENSES Segmentation of operating expenses (PLN million) Court and enforcement costs (PLN million) 80 80 30% 61 60 56 55 60 2 3 20% 2 15 18 16,4% 40 20 40 11 12,8% 11 11 11,1% 10% 20 20 22 24 26 17 12 15 0 0 0% 1Q 2023 1Q 2024 1Q 2025 1Q 2023 1Q 2024 1Q 2025 labour costs third party servi
Slide 13: Assets Structure
ASSETS STRUCTURE Carrying value of portfolios (PLN million) Nominal estimated remaining collections (ERC) (PLN million) 4 000 4 000 3 000 3 000 2 000 2 000 3 523 3 503 3 027 1 000 1 000 1 342 1 590 1 594 0 0 31.12.2023 31.12.2024 31.03.2025 31.12.2023 31.12.2024 31.03.2025 Geographic structure of ma
Slide 14: Group's Equity and Liabilities
GROUP’S EQUITY AND LIABILITIES Equity (PLN million) Net debt (PLN milion)) 1000 3,00 1000 898 894 100% 742 774 2,50 750 750 750 689 80% 622 2,00 500 60% 500 411 1,50 51% 49% 48% 47% 40% 1,00 250 0,83 0,83 0,87 250 0,60 0,50 20% 0 0,00 0 0% 31.12.2022 31.12.2023 31.12.2024 31.03.2025 31.12.2022 31.12
Slide 15: BEST Group on the Bond Market
BEST GROUP ON THE BOND MARKET Historic bond issues and redemptions (PLN million) Current bond repayment plan (PLN million) 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 70 102 83 50 50 65 20 10 19 20 11 10 11 14 11 10 -10 -11 -22 -19 -19 30 -42 60 50 65 52 50 60 56 -50 -70 -65 -60 90 -94 -83 iss
Slide 16: Thank You
THANK YOU PRESENTATION PREZENTACJA OF RESULTS WYNIKÓW ZA IFOR KW.Q12025 2025R. 23/28
Slide 17: Attachments
/05 ATTACHMENTS PREZENTACJA WYNIKÓW ZA I KW. 2025 R.
Slide 18: Cash EBITDA
CASH EBITDA (PLN million) 1Q 2025 1Q 2024 change YOY 2024 2023 change YOY BEST repayment of claims 118,9 112,0 5% 465,1 414,4 12% other revenues 0,5 1,1 (55%) 4,1 15,8 (74%) OPEX (excluding amortisation/depreciation) (58,0) (52,4) 11% (219,9) (209,9) 5% Cash EBITDA* 61,5 60,7 1% 249,3 220,2 13% *Cas
Slide 19: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION (PLN million) 31.03.2025 31.12.2024 31.12.2023 31.12.2022 assets, including: 1 918,6 1 856,8 1 545,1 1 349,3 cash and cash equivalents 124,0 82,4 64,8 52,2 claims acquired 1 594, 1 590,0 1 342,4 1 183,2 equity investments 74,0 82,5 39,9 27,6 investment real property 4
Slide 20: Financial Results
FINANCIAL RESULTS (PLN million) Q1 2025 Q1 2024 Change YOY operating revenues, including: 89 638 89 591 0% revenue from claims acquired 89 134 88 499 1% interest calculated using the effective interest rate method 85 779 75 125 14% deviations from actual payments 6 798 8 799 (23%) revaluation result
Slide 21: BEST CG Structure
BEST CG STRUCTURE Shareholding of BEST S.A. BEST S.A. (share in the share capital as at 20/05/2025) Kancelaria Radcy Prawnego BEST TFI SA 100% 96,15% Rybszleger Sp.K. 2,76% 5,8% Others BEST NFIZW 97,24% 100% BEST Italia S.r.l. 18,8% 11,4% Kredyt Inkaso Investments Marek BEST Capital Italy S.r.l. 100