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KRU GPW WIG20 Periodic report · PAP Biznes

Kruk SA (KRU) · Q3 2026 results

Share price: 335.70 zł · 2026-11-10

Kruk SA manages debt collection and invests in debt assets for its own account and on behalf of external clients. The company operates in the debt management sector across several European markets, including Poland, Italy, Spain, and the Czech Republic. Sources: Half-year report (2026-08-26) · Wikipedia

Results Q3 2026 vs Q3 2025 · year over year · published 27 Oct 2026 and 29 Oct 2025

Net income down 32.2% year on year. The language turned more cautious.

1 · Numbers

−32.2%

Net income vs Q3 2025

Net income 198.3M vs 292.6M

Revenue −9.5%

Why Net income fell because lower receipts were a consequence of an occasional sale of debt portfolios worth 24,670 thousand PLN resulting from organizational changes.

2 · How the report reads

More cautious

Language tone vs last period

Report language: cautious for a company report — more cautious than in Q3 2025.

Weak signal: formal report language, not a call.

3 · What stood out

Kruk SA management intends to recommend a dividend of at least 30% of the consolidated net profit if the net debt to cash EBITDA ratio does not exceed 3.0.

Official channels

The company's own website and social media accounts.

Read between the lines

  1. Figure

    Profit for the third quarter of 2026 fell to 753,260 thousand PLN from 877,155 thousand PLN in 2025, while cash EBITDA for the first three quarters of 2026 rose 2% to 2,048,529 thousand PLN.

  2. Figure

    Lower payments are a consequence of the occasional sale of debt portfolios valued at 24,670 thousand PLN to the affiliated company InvestCapital Ltd., conducted in 2026 as a result of organizational changes.

  3. Figure

    The Management Board assumes that it will submit to the General Meeting a recommendation for a dividend payment of at least 30% of the KRUK Group's consolidated net profit obtained in the previous financial year…

    Source quote
    “The Management Board assumes that it will submit to the General Meeting a recommendation for a dividend payment of at least 30% of the KRUK Group's consolidated net profit obtained in the previous financial year, attributable to the Company's shareholders, if the debt, including the recommended dividend, does not exceed 3.0 net debt/cash EBITDA.”
  4. Figure

    Repayments from portfolios purchased by the KRUK Group reached 2,970,651 thousand PLN in the first three quarters of 2026, which is 2% more than in the same period of 2025.

  5. Figure

    Expenditures on new debt portfolios fell by 15% to 1,211,633 thousand PLN in the first three quarters of 2026 compared to 1,426,964 thousand PLN in the same period of 2025.

1 more
  1. Figure

    The company performed a premature settlement of a 120,000 thousand PLN currency interest rate swap contract in 2026 following the early redemption of a secured bond issue.

    Source quote
    “In 2026, the Company performed a bank-agreed early currency net settlement of an interest rate swap (CIRS) contract entered into on January 27, 2023, with a nominal amount of 120,000 thousand PLN in connection with the early redemption of the secured bond issue.”

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q3 2026. Ring: Q3 2025.

Report language Cautious (was very upbeat)

Cautious for a company report — more cautious than in Q3 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
“Credit risk is the risk of the Group incurring a financial loss in a situation where a business partner, a debtor, or the counterparty of a financial instrument fails to fulfill its obligations under the agreement.”
“there is sustainable development and growth in the Group's value resulting in increased profit and dividend payment, while maintaining an appropriate level of financial liquidity and respecting sustainability principles (ESG).”

Full figures

PLN · PAP Biznes report (2026-10-27)

Metric Q3 2026 Q3 2025 Change
Revenue 726.9M 803.4M −9.5%
Operating income 325.5M 414.9M −21.6%
Net income 198.3M 292.6M −32.2%
EPS 10.14 15.08 −32.8%
P/E today 6.2 6.8 8.9 −2.1

Topics

Topics are drawn from the full report text, not management commentary.

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Faded since Q3 2025

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Latest announcements

Official filings, newest first. Summaries are generated from each filing and its attachment; every figure is checked against the source.

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