18 August 2022, 07:00 CEST

Axactor Group

Interim report

Axactor ASA: Second quarter and first half year 2022 financial results

(Oslo, 18 August 2022) Axactor ASA (Axactor, OSE: ACR) announce second quarter and first half year 2022 financial results.

Key figures Q2 2022 for continuing operations (Q2 2021 in brackets)*
- Gross revenue of EUR 87m (EUR 83m)
- Total income of EUR 60m (EUR 54m)
- EBITDA of EUR 30m (EUR 25m)
- Cash EBITDA of EUR 58m (EUR 55m)
- Return on equity 13% (8%)
- NPL investments of EUR 47m (EUR 12m)

Key figures H1 2022 for continuing operations (H1 2021 in brackets)*
- Gross revenue of EUR 166m (EUR 159m)
- Total income of EUR 118m (EUR 105m)
- EBITDA of EUR 58m (EUR 45m)
- Cash EBITDA of EUR 107m (EUR 99m)
- Return on equity 10% (4%)
- NPL investments of EUR 126m (EUR 28m)

“We deliver a solid quarter with 13% annualized return on equity and a cash EBITDA growth of 5% year-over-year on continuing operations. Furthermore, I am pleased to announce that we increase our NPL investment estimate with EUR 50 million to EUR 250–300 million for the year” says Johnny Tsolis, CEO of Axactor.

- Interest rates are expected to increase further. A 1%-point increase in interest rates will increase quarterly interest expenses by EUR 1.9 million

- A mixed outlook on backbook collections: Rising inflation and interest rates put negative pressure on the debtors’ ability to settle their debts. Low unemployment rates, increasing salaries and government aid packages increase the debtors’ ability to pay

- Continued growth and margin expansion on NPL, with raised investment guiding for 2022 to EUR 250-300 million at attractive gross IRR levels

10:00 am CET: The results will be presented in a global investor webcast with a live Q&A session. A recording of the webcast will be made available after the live stream is concluded on axactor.com.

Webcast participation will be possible via the following:
- https://streams.eventcdn.net/axactor/q2-2022/

- Dial-in pin: 275403
- Norway: +47 81 50 33 08
- Sweden: +46 010 884 80 16
- Denmark: +45 89 87 50 45
- United Kingdom: +44 0203936 2999
- United States: +1 646 664 1960

For additional information, please contact:
Johnny Tsolis, CEO, Axactor
Tel: +47 913 35 461

Kyrre Svae, Chief of Strategy & IR, Axactor
Tel: +47 478 39 405

To learn more about Axactor, visit www.axactor.com

*EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section on page 40 of the first half year 2022 financial report.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Kyrre Svae, Chief of Strategy & IR at Axactor ASA, on 18 August 2022 at 07:00 CET.

Quarterly Report - Q2 - 2022
Axactor Q2-2022 Presentation