B2 Impact, the Norwegian debt collection firm formerly known as B2Holding ASA, reported a 21% year-over-year increase in second-quarter 2026 earnings per share to NOK 0.66, while cash revenues rose 16% and cash collections climbed 10%.
Year-to-date figures showed EPS of NOK 1.23, unsecured collection performance at 116% (up from 112% in the prior-year period), and secured collections totaling NOK 278 million, a 22% increase. Operating costs grew just 3% over the trailing 12 months, while unsecured collections per full-time employee surged 26% year-over-year. Cash EBITDA advanced 10%, and return on equity reached 16% at quarter-end, with the equity ratio holding near 30%.
Interest costs and commitment fees fell to NOK 163 million from NOK 179 million a year earlier, while the leverage ratio remained well below the 2.5x target. Liquidity reserves stood at approximately EUR 320 million, excluding operational cash flow. S&P upgraded B2 Impact’s credit rating to BB with a stable outlook in April, up from BB-.
The company’s total estimated remaining collection (ERC) reached NOK 28.9 billion, with management indicating potential to exceed NOK 30 billion. Second-quarter investments totaled NOK 1.29 billion, while real estate owned (REO) sales generated NOK 206 million, a 46% gain over book value. Year-to-date REO sales amounted to NOK 267 million.
B2 Impact raised its full-year 2026 guidance, targeting EPS of at least NOK 2.25 (previously NOK 2.10), ROE of about 16% (up from 14%), and portfolio investments of at least NOK 4 billion (from NOK 3.5 billion). As of the presentation, NOK 3.1 billion in investments had already been deployed or committed. REO sales are now expected to reach about NOK 400 million, up from the prior estimate of around NOK 300 million. The company also indicated capacity to support up to 100% dividend distribution under its framework.
Shares of B2 Impact, listed under ticker B2I, rose 3.2% in pre-market trading to $25.80, within a 52-week range of $15.60 to $26.65.
