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.
Redigert 25.10.2019 kl 07:18 Du må logge inn for å svare
myrern
25.10.2019 kl 13:53 689

Helt riktigt, SS har ikke gjort noe annat en bom. At den idioten gidder, må vell værra Norges største fake he he.

toffen4
25.10.2019 kl 14:14 635

Der røyk 18 tallet ja

Ny dag med nye kranser. Du og dine trodde på 32,5 i går, og 24 i dag 😂😂😂🤣🤣😂😂

SS fikk pinadø meg rett i dag og.

SS

nesten skremmende hvordan en aksje blir behandlet utnyttet på Oslo børs, fantastisk utvikling med negative følger, nå bør børs og godtfolk reagere på dette. sunn fornuft burde dette være en skikkelig godbit å investere i. Fyttikatta for en børsforvalter vi har som ikke reagerer på dette.....
Popcorn
25.10.2019 kl 17:23 387

stockwatch@oslobors.no

Deilig å sette dere på plass.

SS
Rockall
25.10.2019 kl 17:24 375

Imponerende var det ikke, selv ikke justert for lavsesong, men at aksjen skulle falle såpass nå, det hadde jeg ikke trodd. Ikke det at jeg har AXA-aksjer, men jeg følger med på AXA av og til.