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DDM (DDM) investor relations material
DDM Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 2025 saw strong operational performance, with adjusted gross collections up to 12.7 MEUR from 11.4 MEUR year-over-year.
Profit before tax reached 3.3 MEUR, reversing a loss of 2.1 MEUR in Q1 2024, driven by disciplined portfolio oversight.
Strategic shift underway to an institutional asset management model, with a rebrand to Achilles Capital AB planned for Q2 2025.
Liquidity remains solid with 5.3 MEUR in cash and ERC at 309 MEUR at quarter-end.
Jesper Bernström appointed CFO on March 1, 2025; Matthew Doerner became CEO in April 2025.
Financial highlights
Adjusted net collections rose to 10 MEUR from 9.5 MEUR year-over-year; adjusted cash EBITDA increased to 5.7 MEUR from 5.3 MEUR.
Operating expenses stable at 4.8 MEUR, matching Q1 2024.
Net result for the period was 2.0 MEUR, compared to a loss of 2.5 MEUR in Q1 2024.
Total assets at 250.6 MEUR, net debt at 167.0 MEUR, and equity ratio at 16.0%.
Cash flow from operating activities before working capital changes was 2.9 MEUR, down from 4.9 MEUR in Q1 2024.
Outlook and guidance
Management expects continued opportunities from market dislocation and regulatory-driven asset disposals in Europe.
Focus remains on selective capital deployment and scaling recurring earnings, with a goal to grow AUM and deliver long-term value.
Transitioning reporting focus from ERC to AUM to reflect broader managed capital.
- Q3 saw strong collections and EBITDA growth, but equity ratio covenant breach limits new debt.DDM
Q3 2024 - Q2 saw higher collections, narrowed losses, and strategic moves including a major NPL acquisition.DDM
Q2 2024 - Q4 2024 saw DDM Debt AB return to profit, aided by bond buybacks and fair value gains.DDM
Q4 2024
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