Oslo 12 February 2020 -
Axactor continued its profitable growth journey at the end of 2019, reporting
growth in all business segments for both the fourth quarter and full year. Gross
revenue increased by 32% to EUR 99 million for the fourth quarter and by 54% to
EUR 368 million for the full year. EBITDA was up 22% to EUR 24 million in the
fourth quarter and doubled to EUR 92 million for the full year, whereas cash
EBITDA increased by 50% to EUR 67 million in the quarter and by 84% to EUR 251
million for the full year.
Earnings before tax amounted to EUR 8.5 million for the quarter and EUR 32.6
million for the full year, whereas net profit amounted to EUR 6.5 million in the
fourth quarter, and EUR 21.0 million for 2019.
Gross revenue in the NPL segment (non-performing loans) increased by 54% to EUR
60.8 million in the fourth quarter and by 86% to EUR 217.1 million for the full
year. ERC (estimated remaining collection) on the NPL portfolio increased by 47%
during the year to more than EUR 2bn at the end of 2019.
"Axactor's efficient and scalable operating model is proving its value, with a
doubling of EBITDA with improved operating margins in 2019. We see increasingly
attractive NPL investment opportunities in our markets and are pleased to have
secured additional funding to continue our profitable growth strategy going
forward," says CEO Endre Rangnes in Axactor.
February 5th, the company raised NOK 517.5 million (EUR 51 million) in gross
proceeds from a private placement of 30 million shares at subscription price of
NOK 17.25 per share. In the fourth quarter 2019 the funding base was expanded
through a EUR 150 million increase of a credit facility in the form of two
accordion options, each of which for EUR 75 million, with the company's two main
banks. One of the options was executed in October.
Axactor invested EUR 95 million in NPL portfolio acquisitions in the fourth
quarter, bringing total portfolio investments in 2019 to EUR 399 million. In
2020, the company targets investments in NPL portfolios in the range of EUR
For additional information, please contact:
CEO Endre Rangnes
Mobile phone: +47 482 21 111
CFO Johnny Tsolis
Mobile phone: +47 913 35 461
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 also 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 1150 employees.
To learn more, visit www.axactor.com