Hoist Finance (HOFI) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly profit before tax of SEK 632m, up from SEK 310m year-over-year, driven by strong collections, portfolio growth, and a SEK 164m VAT refund; one-off costs of SEK 33m related to the Azzurro Associates acquisition.

• Investment portfolio value rose to SEK 39.2bn, with SEK 6.1bn in new acquisitions, including the Azzurro deal, surpassing the 2026 volume ambition.

• Completed the acquisition of Azzurro Associates, doubling the UK portfolio, enhancing SME capabilities, and establishing presence in all six largest European economies.

• Moody’s upgraded the credit rating to Baa1, reflecting improved profitability, strong risk management, and capitalisation, which will marginally reduce financing costs.

Financial highlights

• Total operating income for Q2 2026 was SEK 1,444m, up 38% year-over-year (23% excluding VAT refund).

• Net profit for Q2 2026 was SEK 474m, more than double the prior year; underlying net profit at SEK 376m, a 48% year-over-year increase.

• Earnings per share for Q2 2026 were SEK 5.15 (2.42), and for H1 2026 SEK 8.72 (4.75).

• Interest income grew 19% year-over-year to SEK 1.46bn; net interest income increased by 23% to SEK 1,093m.

• Collection performance reached 108% of forecast in Q2, up from 104% last year.

Outlook and guidance

• Continued high investment activity expected in H2 2026, with a strong pipeline and SEK 1bn in transactions signed in July.

• New volume ambitions to be communicated at the Capital Markets Day in September, focusing on profitability and risk-adjusted returns.

• Integration of Azzurro expected to be completed by year-end, with no major integration costs anticipated.

• Broader geographic expansion, including first portfolio acquisition in Hungary.