Hoist Finance AB (publ) (HOFI) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you. Good morning, everyone, and welcome to this Hoist Finance earnings call for the first quarter of 2025. I am Harry Vranjes, CEO of Hoist Finance. And next to me, I have Magnus Söderlund, our acting CFO for his first presentation, and Carl Intik, our chief investor relations officer. So before we dive into the numbers and the highlights, I just want to thank you all for your interest in Hoist Finance. We will try to run through the presentation today in 30 minutes to leave room for any questions you may have, as usual. But first, just very shortly about Hoist Finance for those of you who are new to us. So on a high level, our business model is very simple. We acquire portfolios of non-performing loans from banks at significant discounts, historically an average discount of 90%. So basically we buy on average for 10% of nominal value. Now to then reach our financial targets, we manage these portfolios and we collect circa 20% of the nominal value. We do this in a banking suit or more specifically a credit market company suit that enables us to have a stable and cost-affecting funding source in the form of deposits from the public. Now, in an industry that is undergoing significant change, we are and will continue to be a capital-heavy industrial actor, and we strive to become the leading investor and asset manager of consumer and SME non-performing loans in Europe. Now, the first quarter of 2025 has been another very active quarter for Hoyst Finance on many fronts. During February, we received clarity on the interpretations of the two outstanding criteria for the qualification for so-called specialized debt restructure. This has triggered a host of activities within HOIST, mainly with regards to our funding. where we've replaced all our flex accounts with the...