Ic Nordics A/S

For its retail financing activities, the company is operating on all markets through a vendor program. In Denmark, there is an agreement with Nordea Finance Denmark and on the Swedish market with Nordea Finans Sweden. In the Baltics there is a vendor program with Luminor for the AG/CE segment and with Citadele for the CV segment. This allows the company to cope with potential future financial risks.

In 2023, the retail lending business originations reached a level of 227.7M. This is an increase of 1.5% compared to previous year. In 2022, retail originations were 224,4M. The positive delta in originations is driven by an increase in the retail business in Sweden (+5.6M) and in the Baltics area (+1.8M) offset by decreasing volumes on the Danish market (-4.1M). This performance is highly influenced by the lower number of registrations of agricultural machinery. This evolution of the business is also being reflected in a stable vendor fee income. While in 2022, IC Nordics realized a vendor fee income of 1.111k Eur, this vendor fee income reached a level of 1.151k Eur in 2023. On the commercial lending side, we notice an increase of 0.7M on the income from our loan facilities offered to dealers, while the income from the factoring activities slightly decrease with 0.3M.