RB 11/2020
Legal basis: Article 17 (1) MAR – confidential information. With reference to the recommendations of the European Securities and Markets Authority and the Financial Supervision Commission, the Management Board of Pragma Faktoring S.A. reports on the impact of the effects of the spread of the SARS-CoV-2 virus on the Issuer’s operations. The first group of information was presented by the Company in current report No. 9/2020 on March 23, 2020. Based on current observations and analysis, it can state that:
- The company maintained full operational capability, fully and smoothly implemented and executed all processes related to daily operations.
- We are experiencing an increase in demand from new customers for our services, due to the onlineness of our products and processes, we do not see significant barriers to their provision in the current situation.
- In March this year, we acquired 217 new customers, compared to 128 in March 2019 (+70% y/y) and February 2020. 181 (+20% m/m).
The value of funding limits in new contracts signed in March this year was PLN 14.6 million, the corresponding figures for March 2019 were PLN 12 million, and for February 2020 were PLN 13.8 million.
- Turnover (nominal value of financed invoices) in March this year was PLN 51.2 million, in March 2019 it was PLN 45.4 million (+13% y/y), and in February 2020. PLN 45.3 million (+13% m/m).
- Portfolio repayment has not deteriorated:
- The NPL ratio (the percentage of the portfolio that had the potential to be overdue more than 90 days in March this year) was 0.84% (with the average for the past six months being 1.15%)
- The early NPL ratio (the percentage of the portfolio that had the potential to be overdue more than 30 days in March) was 2.74% (with the average for the past six months being 2.8%).
- The value of cash payments from the portfolio received in January-March 2020 amounted to PLN 124.2 million, representing 180% of the company’s financial debt balance at the end of 2019.
Items 3, 4, 5 also include data of Pragma Faktor, whose portfolio is serviced by Pragma Faktoring S.A. (see RB 41/2018 for a description of the project). Preview the report here
