Axactor ASA: First quarter financial results

Financials

Key figures Q1, 2024 (change from continuing operations Q1 2023 in brackets)*

• Gross revenue of EUR 79m (down 4%)
• Total income of EUR 57m (down 9%)
• EBITDA of EUR 26m (down 14%)
• Cash EBITDA of EUR 49m (down 5%)
• Annualized return on equity 1% (down 6ppt)
• NPL investments of EUR 11m (down 67%)

"First quarter was a soft quarter for Axactor. Low investments in 2023 and so far in 2024, a challenging collection environment and elevated interest rates puts pressure on the financial result. Despite the challenges I am extremely proud of all the employees and their achievements during the quarter. We have successfully conducted several performance improvement projects, renegotiated 3PC contracts at favourable terms and improved the organizational structure to facilitate increased knowledge sharing across countries" says Johnny Tsolis, CEO of Axactor.

Presentation

10:00 am CEST, 7 May 2024: 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.

Webcast participation will be possible via the following:

Streaming
> https://eu-app.webinar.net/rneL3kd2KmG

Phone
Dial-in pin: 715 740

> 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

*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 34-36 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 7 May 2024 at 07:00 CEST.