PRA (US:PRAA)2021-05-12 20:24Financial Performance - Global cash collections reached a record of $556 million in Q1 2021[4] - Net income attributable to PRA Group was $58 million in Q1 2021[4], a 205% increase compared to $19 million in Q1 2020[12] - Total revenues increased by 15% from $252 million in Q1 2020 to $289 million in Q1 2021[11] - Operating expenses decreased by 7% from $191 million in Q1 2020 to $179 million in Q1 2021[13] - Diluted earnings per share increased by 202% from $0.42 in Q1 2020 to $1.27 in Q1 2021[14] Portfolio and Market - Portfolio purchases totaled $159 million in Q1 2021[4,7], including the first Australian portfolio[7] - Estimated remaining collections (ERC) are $6.1 billion[4] - Americas and Australia Core cash collections were $348 million, while Europe Core cash collections were $149 million in Q1 2021[15] Efficiency and Leverage - The cash efficiency ratio for Q1 2021 was 68%[16] - Total borrowings were $2501 million as of March 31, 2021[22], with a debt to adjusted EBITDA ratio of 1.77x[22] - $1.2 billion is available for portfolio acquisitions[23]