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

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.119 Thank you. Good morning, everyone, and welcome to this Hoist Finance earnings 00:00:05.119 -- 00:00:08.584 call for the first quarter of 2025. I 00:00:08.584 -- 00:00:14.153 am Harry Vranjes, CEO of Hoist Finance. And next to me, I have 00:00:14.153 -- 00:00:19.240 Magnus Söderlund, our acting CFO for his first presentation, 00:00:19.240 -- 00:00:24.314 and Carl Intik, our chief investor relations officer. 00:00:24.314 -- 00:00:29.223 So before we dive into the numbers and the highlights, I just want to thank you all for 00:00:29.223 -- 00:00:34.593 your interest in Hoist Finance. We will try to run through the presentation today in 00:00:34.593 -- 00:00:40.200 30 minutes to leave room for any questions you may have, as usual. 00:00:40.244 -- 00:00:46.302 But first, just very shortly about Hoist Finance for those of you who are new to us. 00:00:46.302 -- 00:00:49.546 So on a high level, our business model is very simple. 00:00:49.546 -- 00:00:55.533 We acquire portfolios of non-performing loans from banks at significant discounts, 00:00:55.533 -- 00:01:00.920 historically an average discount of 90%. So basically we buy on average for 10% 00:01:00.920 -- 00:01:06.727 of nominal value. Now to then reach our financial targets, we manage these portfolios 00:01:06.727 -- 00:01:10.009 and we collect circa 20% 00:01:10.131 -- 00:01:15.365 of the nominal value. We do this in a banking suit or more 00:01:15.365 -- 00:01:20.884 specifically a credit market company suit that enables us to have a 00:01:20.884 -- 00:01:26.026 stable and cost-affecting funding source in the form of deposits from the public. 00:01:26.026 -- 00:01:30.433 Now, in an industry that is undergoing significant change, 00:01:30.433 -- 00:01:35.741 we are and will continu...