Kruso Kapital (KK) H1 2026 earnings summary

Executive summary

• H1 net profit was €4.378m versus €4.391m a year earlier; total loans reached €170m, up 12% YoY, with growth in Italy and Portugal.

• Total income rose 7% to €18.5m, while operating costs increased 10% to €11.6m; H2 loan growth and profitability are expected in line with the 2026–2028 plan.

Financial highlights

• Net interest income increased 22% to €8.1m; net fee and commission income declined 2% to €10.4m.

• Pre-tax profit was €6.8m, down 1% YoY; net profit was €4.378m versus €4.391m.

• Operating costs rose 10% to €11.6m, including €1.6m of non-recurring uplisting costs; other operating income included a corresponding recovery of ~€1.6m.

• Adjusted pre-tax profit was €6.2m; adjusted net profit after the variable-pay provision was €3.499m.

Outlook and guidance

• H1 performance in Italy and Portugal was in line with the 2026–2028 Business Plan; H2 loan growth and profitability are expected in line with the plan and H1 results.

• Funding costs are expected to rise as funding sources are diversified to support business development.

• Estimated variable remuneration provisions of €834k gross of tax effects include the H1 2026 accrual and unprovided 2024–2025 amounts, with the latter non-recurring.