Kruso Kapital (KK) investor relations material

Executive summary

• 9M 2026 results were in line with the 2026–2028 Industrial Plan; net income was €4.9m, with growth in operating margins offset by higher costs tied to growth, uplisting and funding.

• Pledged-loan balances rose 14.6% YoY to €177.1m, while net interest income increased 13.1% to €11.7m.

Financial highlights

• Net interest income was €11.7m, up 13.1% YoY; net fees were €15.1m, down 3.8%, and intermediation margin was €26.8m, up 3.0%.

• Net financial management income was €26.5m, up 2.4%; pre-tax income was €7.8m, down 20.1%, and net income was €4.9m, down 22.2%.

• Operating costs rose 14.8% YoY to €18.7m, including higher staff and administrative expenses; total assets increased 12.6% from year-end 2025 to €242.2m.

Outlook and guidance

• 9M performance confirmed the positive operating trend and remained in line with the 2026–2028 Industrial Plan.

• For Q4, pledged-loan balances are expected to track the Plan target, with margins in line with 9M; funding costs are expected to reflect the strategic diversification of funding.

• The 2026 Plan forecasts a 73.2% Cost / Income ratio, reflecting investment, the new organization and governance, and deconsolidation from the CF+ banking group.