Based on European laws and regulations, (prospective) investors should be able to make investment decisions in an informed way. This can be done, among other things, by comparing the quality of the financing provided with other providers. The absenteeism rate can be a measure of this.

There is default if Briqwise believes that it is unlikely that a project owner will meet its credit obligations in connection with the provided financing without measures, such as extracting the securities, or if the project owner is more than 90 days behind on a material credit obligation such as paying the monthly installments. Indicators of improbability include, for example, a forced restructuring of the credit obligation or bankruptcy.

The absenteeism rate is calculated annually by Briqwise by dividing the number of loans that are in default during a year by the number of outstanding loans at the beginning of the year. To prevent some financing from being given more weight than others in this calculation, the loan amount is disregarded.

Briqwise does not divide the provided financing into different risk categories.

Up to and including 31-3-2024, Briqwise provided a total of 568 loans.

• Deferred financing to investors since Briqwise started: 0
• Deferred financing to investors as at 31-3 2024:0

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• Project owners with forced restructuring or bankruptcy since Briqwise started: 0
• Project owners with forced restructuring or bankruptcy on 3/31/2024:0

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• Project owners with a change in the payment schedule since Briqwise started: 1
• Project owners with a change in the payment schedule on 3/31/2024:0

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• Project owners in arrears to Briqwise > 90 days on 3/31/2024:3
• Project owners in arrears to Briqwise > 90 days since Briqwise started: 15

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• Number of loans where payment arrears have been made up: 12
• Number of loans repaid where a depreciation has occurred: 0

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• The average absenteeism rate was 0.8% in 2022, 1.6% in 2023 and 1.4% in 2024 (Q1)
• The absenteeism rate was 3.3% in 2022, 4.5% in 2023 and 0.7% in 2024 (Q1)

Investors involved in default financing have been informed about this and are involved in the process to eliminate the default.

Based on the absenteeism rate in Q1 2024, Briqwise expects an absenteeism rate of 2.6% for the whole of 2024. As a result, the average absenteeism rate will rise slightly to 1.7%. There are expected to be no write-offs on loans in default in 2024.