– The fourth quarter was an eventful one with good demand for our solutions. We welcomed new partners, including Åhléns, and Bauhaus extended the collaboration with us. At the same time, the market and Resurs were affected by the turbulent macro situation, which led to increased credit losses. We have strengthened Group Management and initiated several efficiency initiatives.

– Despite several positive trends, we are obviously not satisfied with our performance in the fourth quarter and the fact that we are not reaching our financial targets, which has had the effect of cancelling the dividend for the second half of 2023. However, I would like to emphasise that Resurs has a long track record of profitable business. I now want to develop this further to create more opportunities for the future. I am grateful to have been entrusted to lead Resurs and I look forward to presenting more about our development over the next few months. - Magnus Fredin, CEO Resurs Bank and Resurs Holding.


1 OCTOBER – 31 DECEMBER 2023*

• Lending to the public rose 4% to SEK 38,846 million. Lending to the public excluding items affecting comparability rose 8% to SEK 40,049 million.
• Operating income increased 4% to SEK 889 million.
• C/I before credit losses was 68.0% (41.7%), and excluding items affecting comparability 41.9%.
• Profit before credit losses was SEK 284 million, and excluding items affecting comparability profit before credit losses increased 4% to SEK 516 million.
• The credit loss ratio was 6.3% (2.6%), and excluding items affecting comparability 4.7%.
• Operating result amounted to SEK -331 million (260), and excluding items affecting comparability operating profit was SEK 47 million.
• Earnings per share declined to SEK -1.58 (0.99), and excluding items affecting comparability amounted to SEK 0.06.
  

1 JANUARY – 31 DECEMBER 2023*

• Lending to the public rose 4% to SEK 38,846 million. Lending to the public excluding items affecting comparability rose 8% to SEK 40,049 million.
• Operating income increased 9% to SEK 3,489 million.
• C/I before credit losses amounted to 47.7% (43.2%), and excluding items affecting comparability the C/I ratio declined to 41.1% (41.7%).
• Profit before credit losses amounted to SEK 1,824 million (1,817). Excluding items affecting comparability, profit before credit losses increased 10% to SEK 2,055 million (1,867).
• The credit loss ratio rose to 3.8% (2.2%), and excluding items affecting comparability to 3.3% (2.2%).
• Operating profit totalled SEK 388 million (1,028), and excluding items affecting comparability SEK 766 million (1,078).
• Earnings per share declined to SEK 1.14 (3.89), and excluding items affecting comparability to SEK 2.79 (4.14).
• For the full-year 2023, net profit amounted to SEK 258 million, and net loss for the second half of the year was SEK -106 million. Due to the negative earnings for the second half of 2023, the Board decided in line with the company’s dividend policy not to propose any half-year dividend at the 2024 Annual General Meeting. In the autumn of 2023, Resurs distributed SEK 0.91 per share, which corresponds to 50 per cent of the net profit for the first half of 2023.
  

* Certain performance measures provided in this section have not been prepared in accordance with IFRS or the capital adequacy rules, meaning that they are alternative performance measures. Calculations and reconciliation against information in the financial statements of these performance measures are provided on the website under “Financial reports.” Definitions of performance measures are provided on the website under “Financial data.” In this section, changes and comparative figures refer to the same period in the preceding year. This applies to all other sections of text in this interim report, profit/loss items and cash flow that are compared with the same period in the preceding year.

INVITATION TO THE PRESENTATION
Resurs Holding’s year-end report 2023 will be published at 07:30 CET on February 6th. A web-cast telephone conference will be held at 09:00 CET the same day, where Resurs’ CEO Magnus Fredin and CFO & Head of IR Sofie Tarring Lindell will present the report. The presentation will be followed by a Q&A-session.

If you wish to participate via webcast please use the link below. Via the webcast you are able to ask written questions. https://ir.financialhearings.com/resurs-holding-q4-report-2023

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=50048652

The presentation will be held in English.

The presentation material will be available before the telephone conference begins on Resurs’s website www.resursholding.com. It will also be possible to access the recorded version of the webcast after it is finished on this page.

FÖR MEDIAKONTAKTER:
Måns Renntun, Chief Communication & Marketing Officer, +46-709-849620, mans.renntun@resurs.se