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04 November 2019
Revenues in the first nine months of 2019 closes at 16.8 million of euro recording a growth of over 107% compared to 30 September 2018 - Investments in human resources are growing
Axactor Italy, part of the International Axactor Group, a leading player in the Italian Credit Management market with over twenty years of experience in the sector, announces that it closed the first nine months of 2019 with revenues for Euro 16.8 million, an increase of over 107% compared to 30 September 2018. Q3 2019 alone, on the other hand, recorded a turnover of approximately Euro 5.5 million, with an increase of over 151% compared to the same period of 2018.
The third quarter of 2019 was characterized by strong growth in the characteristic business and by the decisive entry into new sectors.
To support growth, Axactor Italy worked both financially side and human resources side.
From a financial point of view, Axactor Italy obtained the renewal of credit lines by 7 financial institutions operating in the Piedmont and Italian territories. The renewal of the credit lines took place at the end of a dedicated roadshow, during which the company's managers presented the ambitious and sustainable growth plans that will see the company play a leading role in the Italian market for the purchase of NPL portfolios and in the credit management for third parties. These financial resources are added to those already existing and to those made available by the Axactor Group and aimed at supporting the constant development of the countries in which it operates - Italy, Finland, Germany, Norway, Sweden and Spain.
As regards human resources, considered one of the strategic factors for the company, in order to support current growth and set future growth, Axactor Italy increased its people inside Operations division, to cope with the increase in the working size.
Fortunato Pagano joined the Axactor Italy management team in Q3 as Head of Sales, responsible for managing all marketing and sales activities, including coordinating relations with the main customers, supervising and defining business goals and strategies.
Antonio Cataneo, CEO of Axactor Italy commented: "Our strength has always been the people who work in Axactor and for this reason we decided, right away, to invest resources and energy in their growth both numerically and professionally, also collaborating with people from different sectors and by adopting an organizational model that promotes collaboration between team members. The results are proving us right, as confirmed by the growing numbers of the quarter, which align with that of the previous months. In addition to human resources, our strategy for the future aims to focus more on the expansion of asset classes as regards the purchase of portfolios, to go beyond the current specialization in the unsecured segment. In addition, we are working to increase know-how and skills to act as servicers alongside important banks and financial, insurance, leasing and corporate institutions, to provide them with complete management of all their portfolios, from UTP to bad loans".
The results of the parent company Axactor SE were also positive, which, as at 30 September 2019, recorded consolidated revenues of € 269.3 million, up 65% on the previous year and EBITDA of € 68.3 million, more than doubling the performance compared to the same period of the year 2018.
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Finance Director Italy