B2 Impact’s Q2/25, partly pre-announced, showed continued earnings momentum with adj. EPS of NOK 0.55 vs. ARCe/cons. at NOK 0.35/0.39, bringing YTD EPS to NOK 0.91. Cash collections rose 9% y-o-y to NOK 1,510m, driving cash EBITDA of NOK 1,151m (+10% y-o-y adj. for Poland). Investments of NOK 450m lifted invested and committed volumes to NOK 2.1bn YTD, leaving a heavy H2 to reach the new NOK 3.5-4.0bn target. Leverage ticked up to 2.4x as expected but remains within the <2.5x ceiling. Management ....
