The ongoing implementation of the strategic direction, presented in 2024, has led to an impairment of IT investments of 326 MSEK. Excluding these items affecting comparability, operating profit increased by 34 percent compared to the fourth quarter of 2024 and amounted to 128 MSEK. The impairment does not affect the company's liquidity and has a slightly positive effect on Resurs capital base. Due to the impairment, the publication of the interim report for the first quarter 2025 is brought forward to immediately after this press release.
At the end of 2024, Resurs Holding was acquired by new majority owners, Ronneby UK Limited, and a new Board of Directors was appointed. Together with the new Board of Directors, a new strategic plan has been developed. Resurs has, in connection with the quarterly financial statements, reviewed all capitalised IT investments and identified an impairment need of 326 MSEK. The impairment is a consequence of the ongoing implementation of the new strategic direction and the rapid digital development in the sector.
Excluding the impairment, operating profit amounted to 128 MSEK, which is an increase of 34 percent compared to the fourth quarter of 2024 and by 218 percent compared to the corresponding quarter last year. The strengthened result is due to customers' payment patterns improving during the first quarter. The write-down does not affect the company's liquidity and has a slightly positive effect on Resurs' capital base. The total capital ratio amounted to 17.5% (16.3%) and has a buffer of 343 basis points in relation to the regulatory requirement.
The Board of Directors also decided on revised financial targets. The established financial targets are:
- All capital ratios shall exceed the regulatory capital requirement by 150-300 basis points.
- Resurs aims to distribute up to 50 percent of its net profit, subject to the bank's outlook, capital planning and expected investments in organic and inorganic growth opportunities.
MORE INFORMATION:
Sofie Tarring Lindell, CFO and Head of IR, +46-73 644 33 95, sofie.tarringlindell@resurs.se
Måns Renntun, Head of Communications, +46-709-849620, mans.renntun@resurs.se
ABOUT RESURS HOLDING
Resurs Holding (Resurs), which operates through the subsidiary Resurs Bank, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately six million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of Finansinspektionen. Resurs is listed on Nasdaq Stockholm.
This information is information that Resurs Holding is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-05-06 19:10 CEST.
