AXA - Axactor doubles EBITDA to EUR 20 million in Q3
Axactor continued its profitable growth journey in the third quarter, driven by high growth in the NPL segment. Gross revenue increased by 55% to EUR 87.3 million and EBITDA doubled to EUR 20 million. Profit before tax amounted to EUR 6.3 million, up from EUR 0.8 million in the same period last year.
Net profit amounted to EUR 3.7 million (0.4) for the third quarter 2019, of which EUR 4.5 million to equity holders (1.3) and EUR -0.8 million to non-controlling interests (-0.9).
“Increased volumes continue to generate scale benefits and drive operating margins in the right direction. The EBITDA margin of 31% in the third quarter compares to 21% in the same quarter last year, showing the high operational leverage of our business model,” says CEO Endre Rangnes in Axactor.
Gross revenue in the NPL segment (non-performing loans) increased by 113% to EUR 53.8 million, and the ERC (estimated remaining collection) on the NPL portfolio has increased by more than EUR 1bn to almost EUR 1.9bn over the past year. The company invested EUR 85.1 million in NPL portfolio acquisitions in the third quarter, bringing NPL investments for the first nine months to EUR 302.8 million. The portfolio investment level is expected to be in the region of EUR 400 million for the full year 2019.
Available funding was increased after the end of the third quarter, when the company’s two main banks increased a credit facility by EUR 150 million to EUR 500 million through establishment of two accordion options of EUR 75 million each. Axactor executed one of the options in October.
Axactor expects continued solid growth for the remainder of 2019 and into 2020.
For additional information, please contact:
Endre Rangnes, CEO
Mobile phone: +47 482 21 111
Email: endre.rangnes@axactor.com
Johnny Tsolis, CFO
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com
About Axactor
Axactor Group is a next-generation debt management company operating in Norway, Sweden, Finland, Germany, Spain and Italy with an ambitious European growth strategy. Axactor acquires and collects on own portfolios of non-performing loans and provides debt collection and accounts receivable management for third parties. The debt collection market is estimated to about 1,000 billion euros across Europe, providing significant opportunities for future expansion. The company has approximately 1200 employees.
To learn more, visit www.axactor.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Net profit amounted to EUR 3.7 million (0.4) for the third quarter 2019, of which EUR 4.5 million to equity holders (1.3) and EUR -0.8 million to non-controlling interests (-0.9).
“Increased volumes continue to generate scale benefits and drive operating margins in the right direction. The EBITDA margin of 31% in the third quarter compares to 21% in the same quarter last year, showing the high operational leverage of our business model,” says CEO Endre Rangnes in Axactor.
Gross revenue in the NPL segment (non-performing loans) increased by 113% to EUR 53.8 million, and the ERC (estimated remaining collection) on the NPL portfolio has increased by more than EUR 1bn to almost EUR 1.9bn over the past year. The company invested EUR 85.1 million in NPL portfolio acquisitions in the third quarter, bringing NPL investments for the first nine months to EUR 302.8 million. The portfolio investment level is expected to be in the region of EUR 400 million for the full year 2019.
Available funding was increased after the end of the third quarter, when the company’s two main banks increased a credit facility by EUR 150 million to EUR 500 million through establishment of two accordion options of EUR 75 million each. Axactor executed one of the options in October.
Axactor expects continued solid growth for the remainder of 2019 and into 2020.
For additional information, please contact:
Endre Rangnes, CEO
Mobile phone: +47 482 21 111
Email: endre.rangnes@axactor.com
Johnny Tsolis, CFO
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com
About Axactor
Axactor Group is a next-generation debt management company operating in Norway, Sweden, Finland, Germany, Spain and Italy with an ambitious European growth strategy. Axactor acquires and collects on own portfolios of non-performing loans and provides debt collection and accounts receivable management for third parties. The debt collection market is estimated to about 1,000 billion euros across Europe, providing significant opportunities for future expansion. The company has approximately 1200 employees.
To learn more, visit www.axactor.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Redigert 21.01.2021 kl 08:48
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Flygeren
25.10.2019 kl 07:41
5156
Flott! Fortsetter å levere. Det at de gjennomfører det de lover/sier er noe jeg setter utrolig høyt! Foreløpig ikke driti seg ut på noe. Ikke helt de samme tallene som i q2, men det er heller ikke å forvente i denne type bussenes. Her må man sammenligne med samme Q forrige år, og da leverer de utrolig bra!! :-) Veldig fornøyd
Dnb har vel 30kr, som er latterlig. Som vel var basert på mindre ROE porteføljer.
webspinner
25.10.2019 kl 07:38
5197
Blir spennende å se hvordan kursen utvikler seg i dag. Vi bykser fort over 20 på slike tall. Noen som kjenner analytikernes estimater før tallslipp?
Dette blir utbyttemaskin på sikt, men de kan gjerne fortsette å investere i nye porteføljer en stund til først. Jeg har god tid :)
Dette blir utbyttemaskin på sikt, men de kan gjerne fortsette å investere i nye porteføljer en stund til først. Jeg har god tid :)
Ingen skjelett i skapet her som trollet påstod, her trykkes det penger. Blir nok bra fart i aksjen idag.
Ja, ser bra ut på alt vel
drekkapilsen
25.10.2019 kl 07:33
5320
Vokser og vokser stille og rolig, veldig bra resultat i q3 som pleier å være svakt
Iniest
25.10.2019 kl 07:25
5419
E24:
Inkassoselskapet Axactor viser til en omsetning på 87,3 millioner euro i årets tredje kvartal, opp fra 56,5 millioner euro året før.
Driftsresultatet før av- og nedskrivninger (ebitda) var på 20 millioner euro, opp fra 10 millioner i samme kvartal året før.
Etter skatt sitter selskapet igjen med et resultat på 3,7 millioner euro, opp fra 400.000 euro året før.
- Økte volumer gir fortsatt skalafordeler og driver driftsmarginene i riktig retning. Ebitda-marginen på 31 prosent i tredje kvartal sammenlignet med 21 prosent i samme kvartal i fjor, viser den høye driftsmessige kraften til vår forretningsmodell, uttaler Axactor-sjef Endre Ragnes i en børsmelding.
Axactor investerte 85,1 millioner euro i misligholdsporteføljer (NPL) i løpet av tredje kvartal, sammenlignet med 68,7 millioner året før. Selskapet venter nå at disse investeringene totalt blir 400 millioner euro i 2019 sett under ett.
Inkassoselskapet Axactor viser til en omsetning på 87,3 millioner euro i årets tredje kvartal, opp fra 56,5 millioner euro året før.
Driftsresultatet før av- og nedskrivninger (ebitda) var på 20 millioner euro, opp fra 10 millioner i samme kvartal året før.
Etter skatt sitter selskapet igjen med et resultat på 3,7 millioner euro, opp fra 400.000 euro året før.
- Økte volumer gir fortsatt skalafordeler og driver driftsmarginene i riktig retning. Ebitda-marginen på 31 prosent i tredje kvartal sammenlignet med 21 prosent i samme kvartal i fjor, viser den høye driftsmessige kraften til vår forretningsmodell, uttaler Axactor-sjef Endre Ragnes i en børsmelding.
Axactor investerte 85,1 millioner euro i misligholdsporteføljer (NPL) i løpet av tredje kvartal, sammenlignet med 68,7 millioner året før. Selskapet venter nå at disse investeringene totalt blir 400 millioner euro i 2019 sett under ett.