KRUK: corporate bonds on Catalyst
KRUK has 21 bond series listed on Catalyst with an issue value of PLN 2,952.5m + EUR 34m. Next maturity: KRU1226, PLN 50m, 16 December 2026. Net debt / equity: 1.32× (2025 annual report).
Key figures
2025 annual report (pl.kruk.eu) · as at 11 Nov 2026Data on series and maturity dates come from GPW Catalyst. This page describes the company’s data and is not an investment recommendation.
KRUK was founded in Wrocław in 1998 and has been listed on the Warsaw Stock Exchange since 2011 (ticker KRU). It is the largest debt collection company in Poland and in Central and Eastern Europe.
Financial results
PLN million, consolidated figures; figures from the company’s reports. A dash (–) means the figure is not in our database.
| Item | 2023 | 2024 | 2025 | 9M 2026 |
|---|---|---|---|---|
| Revenue | 2,592.6 | 2,907.6 | 3,190.7 | 2,299.2 |
| Operating profit (EBIT) | 1,327.2 | 1,412.4 | 1,577.8 | 1,110.7 |
| Net profit | 984.2 | 1,074.3p | 1,085.6 | 752.9 |
| Total assets | 9,928.5 | 11,648.9 | 13,032.2 | 13,791.7 |
| Equity | 3,790.8 | 4,528.7 | 5,326.5 | 5,803.9 |
| Total liabilities | 6,137.7 | 7,120.2 | 7,705.7 | 7,987.9 |
| Cash and cash equivalents | 388.5 | 214.8 | 212.6 | 265.4* |
* Figure matches the company document (quarterly report for Q3 2026) but has not yet been confirmed by a later report.
p Figure taken from the comparative column of a later company document (2024: annual report for 2025). The company may have restated the earlier period, for example after a change in accounting policies.
Sources: annual report for 2023, annual report for 2024, annual report for 2025, quarterly report for Q3 2026.
Debt and repayment capacity
Ratios based on annual reports (consolidated), using only figures verified against the company’s filings. A dash (–) means the figure is not available; a negative interest cover means an operating loss. As a financial company, it uses its debt to fund portfolios of receivables, so we do not show net debt / EBITDA.
| Ratio | 2023 | 2024 | 2025 |
|---|---|---|---|
| Interest cover (how many times operating profit covers interest expense) | – | 3.00× (EBIT) | 3.31× (EBIT) |
| Net debt / equity (net debt relative to shareholders’ equity) | – | – | 1.32× |
| Equity / total assets (share of assets financed by equity) | 38.2% | 38.9% | 40.9% |
Sources: 2023 annual report, 2024 annual report, 2024 annual report (2).
Bonds on Catalyst
| Series | Maturity | Interest rate | Rate type | Margin | Security | Yield to maturity |
|---|---|---|---|---|---|---|
| KRU1226 | 16 Dec 2026 | 7.23% | Floating (3M WIBOR) | +3.40 pp | Unsecured | 4.48% |
| KRU0227 | 8 Feb 2027 | 7.22% | Floating (3M WIBOR) | +3.30 pp | Unsecured | 4.16% |
| KR10627 | 2 Jun 2027 | 7.13% | Floating (3M WIBOR) | +3.30 pp | Unsecured | 6.56% |
| KRU0627 | 28 Jun 2027 | 7.56% | Floating (3M WIBOR) | +3.70 pp | Unsecured | 5.05% |
| KRU0827 | 12 Aug 2027 | 7.13% | Floating (3M WIBOR) | +3.30 pp | Unsecured | 5.10% |
| KRU1127 | 28 Nov 2027 | 7.83% | Floating (3M WIBOR) | +4.00 pp | Unsecured | 5.47% |
| KRU0228 | 2 Feb 2028 | 7.11% | Floating (3M WIBOR) | +3.20 pp | Unsecured | 5.61% |
| KR10228 | 20 Feb 2028 | 7.83% | Floating (3M WIBOR) | +4.00 pp | Unsecured | 6.37% |
| KRU0628 | 13 Jun 2028 | 7.84% | Floating (3M WIBOR) | +4.00 pp | Unsecured | 5.56% |
| KRU0828 | 8 Aug 2028 | 7.82% | Floating (3M WIBOR) | +4.00 pp | Unsecured | 5.75% |
| KRU1028 | 3 Oct 2028 | 7.85% | Floating (3M WIBOR) | +4.00 pp | Unsecured | 6.21% |
| KRU1228 EUR | 11 Dec 2028 | 6.67% | Floating (3M EURIBOR) | +4.00 pp | Unsecured | 5.77% |
| KRU0229 EUR | 1 Feb 2029 | 6.62% | Floating (3M EURIBOR) | +4.00 pp | Unsecured | 5.34% |
| KR20229 | 23 Feb 2029 | 7.83% | Floating (3M WIBOR) | +4.00 pp | Unsecured | 6.86% |
| KRU1029 | 17 Oct 2029 | 8.54% | Floating (3M WIBOR) | +4.65 pp | Unsecured | 6.96% |
| KR11029 | 21 Oct 2029 | 6.88% | Floating (3M WIBOR) | +3.00 pp | Unsecured | 6.34% |
| KRU1130 | 20 Nov 2030 | 6.83% | Floating (3M WIBOR) | +3.00 pp | Unsecured | 6.45% |
| KRU0231 | 5 Feb 2031 | 6.70% | Floating (3M WIBOR) | +2.80 pp | Unsecured | 6.30% |
| KRU0731 | 7 Jul 2031 | 6.54% | Floating (3M WIBOR) | +2.70 pp | Unsecured | 6.33% |
| KRU0632 | 2 Jun 2032 | 6.83% | Floating (3M WIBOR) | +3.00 pp | Unsecured | 5.94% |
| KRU0433 | 4 Apr 2033 | 6.35% | Floating (3M WIBOR) | +2.50 pp | Unsecured | no quote |
Series codes link to the series pages in Polish. Yield to maturity is calculated by the Polish brokerage DM BDM, before tax and commissions; for floating-rate bonds it assumes the reference rate (WIBOR or EURIBOR) stays at its current level. “No quote” means no recent price.
Questions about KRUK bonds
How many KRUK bond series are listed on Catalyst?
KRUK has 21 bond series listed on Catalyst with a total nominal value of PLN 2,953 million and EUR 34 million (amounts in different currencies are shown separately). Their maturity dates range from 16 December 2026 to 4 April 2033.
When does the next KRUK bond mature?
The next maturity is series KRU1226 on 16 December 2026 (nominal value PLN 50 million). The following ones are KRU0227 (8 February 2027) and KR10627 (2 June 2027). An early redemption at the issuer’s request can change these dates.
How is the interest on KRUK bonds set?
All 21 series pay a floating rate: 3M WIBOR (19) or 3M EURIBOR (2) plus a margin of 2.50 to 4.65 percentage points. The coupon changes with the reference rate in each interest period, while the margin stays the same until maturity.
Are KRUK bonds secured?
None of the 21 series is secured: bondholders have no priority claim on any specific asset of the company.
Source: our database of Catalyst series, terms and conditions of the bonds and company announcements.
Our full analysis, financial results and news on KRUK are on the Polish-language issuer page.
This material is for information purposes only and does not constitute investment advice.