September 20 (SeeNews) - Norwegian debt solution provider B2Holding's South Eastern Europe (SEE) region jumped to an operating profit of 32 million kroner ($3.7 million/3.1 million euro) in April-June from a loss of about 685,000 euro in the second quarter of 2020, its financial report showed.
The region, including Romania, Bulgaria, Greece and Cyprus, generated total revenues of 11.8 million euro in the April-June period, more than twice its results for the second quarter of last year, the holding company said in its latest financial report.
South Eastern Europe generated about 14.9% of the company's total revenues in the second quarter, up from some 8.5% in the same period of 2020.
In comparison, the whole company's second quarter revenues increased by some 15.7% year-on-year to 79.4 million euro.
"It pleases me to see that several countries in both Central and South Eastern Europe have shown improved performance along with the gradual re-opening of the countries in these regions," B2Holding CEO Erik Johnsen said.
In the first quarter, B2Holding's business in the region also performed well, with operating profit soaring up 469% to more than 2.7 million euro. The total revenue generated by the holding company in SEE grew 16.1% to 10.5 million euro.
B2Holding provides debt solutions for banks and institutional vendors.
It purchased 3 million euro worth of non-performing loan (NPL) portfolios in SEE in the first quarter of 2021, which formed about 16% of all respective investments of the holding in that period.
(1 krone = 0.1 euro)