Hoist Finance (HOFI) Q3 2025 earnings summary

Executive summary

• Profit before tax reached SEK 349 million in Q3 2025, down from SEK 363 million last year, with last year's figure including SEK 52 million in net positive one-offs; net profit increased 16% year-over-year to SEK 284 million.

• Return on equity improved to 18% from 16% year-over-year, exceeding financial targets.

• Portfolio investments totaled SEK 2.4 billion in Q3, with an additional SEK 1.0 billion signed after quarter-end, expanding the investment portfolio to SEK 32 billion.

• First loan portfolio acquired in Finland, expanding presence to 14 European markets.

• Collection performance remained strong at 103% for the quarter, with year-to-date at 104%.

Financial highlights

• Interest income from owned portfolios and co-investments grew 7% year-over-year, or 10% excluding FX; interest income from loan portfolios was SEK 1,238 million, up 4% year-over-year.

• Net interest income was SEK 937 million, slightly down from SEK 944 million year-over-year; total operating income for Q3 was SEK 1,051 million, down 3% year-over-year.

• Direct and indirect expenses decreased 1% and 7% respectively, reflecting tight cost control.

• EPS for the quarter was SEK 3.00, up 19% year-over-year.

• EBITDA for the quarter was SEK 350 million.

Outlook and guidance

• On track to notify Specialized Debt Restructuring (SDR) status in February 2026, having met criteria for three out of four required quarters.

• Expectation of increased investment deployment post-SDR status, potentially 25% higher than current levels.

• Indirect costs expected to remain flat, growing only with inflation, with no material IT investments planned.

• High market activity and a strong investment pipeline are expected to continue.

• Management expects continued portfolio growth, strict cost control, and competitive funding costs around 3.5%.