Resurs Holding AB (publ)
STO:RESURS
Resurs Holding AB (publ)
Resurs Holding AB engages in the provision of banking and financial services. The company is headquartered in Helsingborg, Skane. The company went IPO on 2016-04-29. The firm offers a wide range of financial services and operates three business segments, namely Payment Solutions, Consumer Loans and Insurance products. The Payment Solutions segment is comprised of retail finance and credit cards. The Consumer Loans segment offers unsecured loans to consumers wishing to finance investments in their home, travels or other consumer goods. Non-life insurance is offered within the Insurance segment under the Solid Forsakring brand.
Resurs Holding AB engages in the provision of banking and financial services. The company is headquartered in Helsingborg, Skane. The company went IPO on 2016-04-29. The firm offers a wide range of financial services and operates three business segments, namely Payment Solutions, Consumer Loans and Insurance products. The Payment Solutions segment is comprised of retail finance and credit cards. The Consumer Loans segment offers unsecured loans to consumers wishing to finance investments in their home, travels or other consumer goods. Non-life insurance is offered within the Insurance segment under the Solid Forsakring brand.
Weak Quarter: Management described Q2 financial performance as not strong, with particular weakness in operating profit and net earnings.
Operating Income: Operating income rose 4% year-on-year to SEK 899 million, but operating profit fell sharply to SEK 59 million, impacted by an administrative fine.
Payment Solutions Growth: Loan book momentum remains strong in Payment Solutions, especially in Sweden and Finland, with 21% and 26% growth respectively in those regions.
Consumer Loans Strategy: Growth in consumer loans is deliberately slowed as the company tightens underwriting to improve credit quality and profitability.
Cost Increases: Costs increased 11% year-on-year (to SEK 394 million) due to investment in IT, personnel, and management, but efficiency programs are expected to deliver SEK 80 million of annual savings from 2025.
Credit Losses: Credit loss ratio improved to 4.0% in Q2 from 4.7% in Q1 but remains high historically.
No Interim Dividend: The Board decided not to propose an interim dividend due to historically low results.
Takeover Bid: A public offer of SEK 23.5 per share from CVC and Waldakt was received and is recommended by the Board; the acceptance period is expected in August.
