27 October 2022, 07:00 CEST

Axactor Group

Interim report

Axactor ASA: Third quarter financial results

(Oslo, 27 October 2022) Axactor ASA (Axactor, OSE: ACR) announce third quarter financial results.

Key figures Q3 2022 for continuing operations (Change from Q3 2021 in brackets)*
- Gross revenue of EUR 82m (up 17%)
- Total income of EUR 59m (up 51%)
- EBITDA of EUR 30m (up 133%)
- Cash EBITDA of EUR 54m (up 22%)
- Return on equity 10% (up 12pp)
- NPL investments of EUR 69m (up 114%)

"We deliver a solid quarter with 10% annualized return on equity and a cash
EBITDA growth of 22% y-o-y on continuing operations. Furthermore, I am
pleased to see that we have further improved our cost position and can report an industry leading cost-to-collect of 38% so far in 2022. The leading cost position becomes visible through a solid EBITDA-margin of 51% for the quarter" says Johnny Tsolis, CEO of Axactor.

- Interest expense on borrowings is expected to increase by EUR 2.1m from the third quarter to the fourth quarter of 2022. A further 1pp increase in interest rates is estimated to increase quarterly interest expenses by EUR 1.8 million

- A mixed outlook on backbook collections: Rising inflation and interest rates might put pressure on debtors’ ability to repay and postpone collections whereas low unemployment rates, increasing salaries and government aid packages is expected to partly offset challenges

- Continued growth and margin expansion on NPL. Already secured NPL investments of more than 2x replacement capex in 2022 at attractive prices.

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/q3-2022/

- Dial-in pin: 059860
- Norway: +47 81 50 33 08
- Sweden: +46 10 884 80 16
- Denmark: +45 89 87 50 45
- United Kingdom: +44 20 3936 2999
- United States: +1 646 664 1960

For additional information, please contact:
Johnny Tsolis, CEO, Axactor
Tel: +47 913 35 461
E-mail: johnny.tsolis@axactor.com

Kyrre Svae, Chief of Strategy & IR, Axactor
Tel: +47 478 39 405
E-mail: kyrre.svae@axactor.com

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
38-40 of the third quarter 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 27 October 2022 at 07:00 CET.

Quarterly Report - Q3 - 2022
Axactor Q3-2022 Presentation