B2 Impact (B2H) Q3 2026 earnings summary

Executive summary

• Q3 collections grew as underlying operating expenses and funding costs declined; adjusted EPS was NOK 0.63 and full-year 2026 EPS guidance rose to above NOK 2.40.

• Total ERC reached NOK 28.0bn, up 19% on a comparable basis; NOK 3.7bn was invested or committed toward the NOK 4bn 2026 target.

Financial highlights

• Q3 adjusted EPS was NOK 0.63, up 44% on a comparable basis; adjusted net profit was NOK 234m and adjusted EBIT NOK 489m.

• Cash collections were NOK 1,424m, down 17% reported but up 6% on a comparable basis, adjusted for the NOK 410m Q3 2025 REO sale.

• Operating expenses declined 4% on a comparable basis; Q3 unsecured collections grew 10% YoY.

• Q3 interest cost was NOK 178m versus NOK 183m a year earlier; underlying interest cost fell 10% YoY.

• Q3 REO sales were NOK 74m at a 63% gain to book value; YTD sales were NOK 341m at an average 50% gain.

Outlook and guidance

• 2026 adjusted EPS guidance rose to above NOK 2.40 from NOK 2.25; ROE guidance increased to ~17%.

• The full-year portfolio investment target remains NOK 4bn; NOK 3.7bn was invested or committed YTD, with leverage expected below 2.5x.

• Revised long-term financial targets and an updated business plan are planned for the Q4 presentation.

• Pricing discipline is expected to continue through the seasonally active Q4 investment period.