(Telestock) – Kruso Capitala company listed on Euronext Growth Milan and part of the Banca Sistema Group, closed the first half of 2024 with a Net income equal to 1.9 million euros, up 100% year-on-year, despite the higher tax burden compared to the previous year and also increasing at quarterly level (2Q24 vs 1Q24).adjusted net profit of non-recurring components (expenses mainly deriving from the IPO and the acquisition in progress in Portugal, totalling 123 thousand net of taxes, largely recorded already in 1Q24) is equal to 2.1 million euros.
As of June 30, 2024, there are approximately 72 thousand pawn credit policies in Italy below 124 million total jobs (112.6 million at June 30, 2023 and 121.4 million at December 31, 2023), up y/y (65.9 thousand). The y/y growth in loans was substantially driven by volumes originating from the network in Italy.
The intermediation margin increases y/y by 28.3% (11.5 million vs 8.9 million in 1H 2023), mainly due to the contribution of pawn credit in Italy, following the higher lending and higher margins. The art and collectibles auction business represents almost 2% of the total intermediation margin in the first half of 2024 (compared to 4.6% in the whole of 2023), decreasing y/y.