Axactor (ACR)

TekBot · april 21, 2020, 5:00am

Axactor reports Q1 financials

Oslo, April 21st 2020

Axactor’s operations and financials for the first quarter of 2020 were significantly affected by the coronavirus outbreak and the far-reaching measures that were implemented to control the spreading of the virus in March.
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“Our main priorities in this situation have been to protect our employees and to safeguard business continuity and make sure that we remain operational for our debtors, customers and partners,” says acting CEO Johnny Tsolis in Axactor.

Gross revenue declined 13% to EUR 79.2 million compared to the same quarter last year, mainly due to a 53% reduction of REO revenues. The closure of public notary offices in Spain hindered completion of already entered REO sales contracts, settlement of secured assets, and some large ticket NPL settlements. Net revenue decreased by 25% to EUR 55.6 million, reflecting also increased NPL amortization. EBITDA was EUR 14.1 million and cash EBITDA EUR 48.2 million in the first quarter 2020, whereas net profit amounted to EUR 3.4 million.

“Given the current extraordinary measures to contain the coronavirus, we expect the negative effects to deepen in the second quarter. We have already implemented a wide range of cost saving initiatives to align operations with the currently lower activity level, including both temporary workforce and salary reductions”, says Tsolis.

Looking further ahead, the collection performance will depend on the depth and length of the economic setback, and the impact on unemployment levels and the debtors’ disposable income and debt service abilities. The company is working to assess the impact on its valuation models, with the indication that the Financial Statements for the first half year 2020 may be charged with impairments. These potential impairments may challenge the covenants of the company’s outstanding bond and other financing arrangement.

Axactor invested EUR 89.9 million in portfolio acquisitions in the first quarter of 2020, and currently holds back on new investments to preserve cash and safeguard business continuity. The investment guidance for the full year 2020 has been suspended.

Axactor raised new equity through a private placement in February, generating gross proceeds of NOK 515.5 million. After the end of the quarter, the liquidity position was further secured through the extension of the EUR 425 million Revolving Credit Facility and EUR 75 million accordion option by one year until December 2021. The extension is conditional on refinancing of Axactor’s EUR 200 million bond maturing in June 2021, before the end of the first quarter 2021.

Axactor expects the current situation to boost demand for 3PC services from the second half of 2020. The changing market environment is also expected to generate a significant downward shift in the pricing of NPL portfolios, as the supply of new NPLs is expected to increase and the availability of funds to support potential buyers likely will be more limited. This may open new and profitable growth opportunities for the company in the longer run.

For additional information, please contact:

Acting CEO Johnny Tsolis
Mobile phone: +47 913 35 461
Email: [email protected]

About Axactor:
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

Kilde

TekBot · april 30, 2020, 2:01pm

Notice to extraordinary general meeting

Tekspert · mai 1, 2020, 10:00am

Hver måned kårer jeg det jeg kaller Teksperter™ for noen av de mest populære investeringene våre

Det er de 3 medlemmene som har fått flest likes på innleggene sine de siste 90 dagene. Teksperter™ får også en unikt merke på profilen sin og et trofé-ikon ved siden av navnet sitt. Du kan bli Tekspert™ i flere aksjer/investeringer, og troféet vil bare vises i tråder der du er Tekspert™.

Her er denne månedens Teksperter™ og det mest likte innlegget deres fra de siste 90 dagene:

@Longtrader (10 likes)

@MOluf (9 likes)

@rokky (8 likes)

Resten av topp 10:

@Buffet (7 likes)
@Kvadro (5 likes)
@Bingo123 (5 likes)
@MTH (5 likes)
@GriseFlax (5 likes)
@alano (4 likes)
@Kaisovski (3 likes)

Gratulerer!

TekBot · mai 25, 2020, 11:00am

Extraordinary general meeting Axactor SE

Axactor SE held an extraordinary general meeting today 25 May 2020 where updated articles of association and an additional member to the Board, Mr Hans Harén, were approved. After the general meeting the board has the following composition Glen Ole Rødland as chair and Brita Eilertsen, Merete Haugli, Lars Erich Nilsen, Kathrine Astrup Fredriksen, Terje Mjøs and Hans Harén as board members.

The minutes from the meeting is enclosed and available at the company’s website.
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About Axactor

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”

Kilde

Tekspert · juni 1, 2020, 10:02am

Hver måned kårer jeg det jeg kaller Teksperter™ for noen av de mest populære investeringene våre

Det er de 3 medlemmene som har fått flest likes på innleggene sine de siste 90 dagene. Teksperter™ får også en unikt merke på profilen sin og et trofé-ikon ved siden av navnet sitt. Du kan bli Tekspert™ i flere aksjer/investeringer, og troféet vil bare vises i tråder der du er Tekspert™.

Her er denne månedens Teksperter™ og det mest likte innlegget deres fra de siste 90 dagene:

@Longtrader (10 likes)

@Buffet (7 likes)

@MTH (5 likes)

Resten av topp 10:

@GriseFlax (5 likes)
@Kvadro (5 likes)
@rokky (4 likes)
@Kaisovski (3 likes)
@Savepig (2 likes)
@Kratos (2 likes)
@Bingo123 (2 likes)

Gratulerer!

Kvadro · juni 6, 2020, 11:10pm

Axactor har fått juling. Usikkerhet rundt innkreving og REOs. Men samtidig bygger de seg opp på det som kan bli framtiden for inkasso.

https://www.axactor.se/2020/06/04/svensk-bank-valjer-axactor-sverige?fbclid=IwAR2RFMVg7shN75qAtZsuKQGefdXci8ON5mJtlwqzWyJ8xUlSA6-MjVJOVew

Kvadro · juni 7, 2020, 4:31pm

Har sett på diverse nye kursmål, hvor Dnb kom med en ganske merkelig analyse. De satt ned kursmålet med kjøpsanbefaling 10kr. Grunnen til kursmålet var bytte av analytiker og at Axactor kunne komme i brudd med lånebetingelser!

Så ikke en veldig fyldig analyse med tanke på at Axactor nå vil nyte godt av sin 3pc virksomhet og Npl vil bli billigere når bankene må kvitte seg med lånene som gir dårlig balanse i deres portoføljer.

Elefanten i rommet er nedskriving og brudd på lånebetingelser i Q2.

Men her kan jeg tillføye at Axactor har vært i brudd tidligere med lånebetingelser. Ligger under Q4 2016 side 20. Å veien fram til idag har vært preget av stor vekst.

Kom gjerne med synspunkter?

TekBot · juni 8, 2020, 7:40am

Axactor extends forward flow agreement with client in Norway

Oslo, June 8th 2020

Axactor has extended an existing forward flow agreement in Norway, increasing the contract length by nine months. The new contract period will run until March 2022, with the annual principal volume expected to be close to 70 mEUR across 2.750 claims. The contract will change to include an element of 3PC, which will have the added benefit of lowering the expected capex by over 20 mEUR in 2020. The total capex for the contract will however be increased by approximately 30 mEUR in 2021 and 2022.
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“The team in Norway are very pleased to extend this agreement, based on both the quality of the claims and the close relationship with the seller.” says Stina Koren, Axactor Country Manager Norway.

This investment will be financed by Axactor’s available cash and our existing credit facilities.

For additional information, please contact:

Johnny Tsolis, Interim CEO, CFO, Axactor
Mobile phone: +47 913 35 461
Email: [email protected]

About Axactor

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 1,150 employees.

To learn more, visit www.axactor.com

Kilde

OMSO · juni 8, 2020, 7:00pm

Noen som følger Axa her? Etter min spede kunnskap på TA så ble vel det gitt et lite kjøpssignal idag når den passerte 8,25 ish? Stigende RSI og godt volum også. Og med greit volum imorgen skal vel den presses ytterligere opp. Spennende case om kursen snur ytterligere nordover.

TekBot · juni 17, 2020, 8:47am

Financial calendar

TekBot · juni 25, 2020, 11:35am

Renteregulering

TekBot · juni 26, 2020, 2:03pm

Johnny Tsolis appointed CEO of Axactor SE

The Board of Directors of Axactor SE announces that acting CEO Johnny Tsolis has been appointed permanent CEO effective immediately. He has previously been CFO and Head of Strategy and M&A at Axactor, and part of the core-management team since the start in December 2015.

“Johnny is well known to all of our stakeholders, know the team and the company, its client base and our market. He has an in-depth understanding of what is needed to succeed in our business”, says Glen Ole Rødland, Chairman of Axactor. “The company has historically been focusing on growth and achieving critical mass. We are now entering a new phase for the company where return on capital, profitable growth and start returning cash to shareholder will be key priorities. The board believe Mr. Tsolis has the right profile and experience to lead the company from being one of the fastest growing companies in our industry to become one of the most profitable companies in our business.”
…

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Johnny Tsolis has a broad international background and brings with him more than 13 years of experience from the debt collection industry, including being co-founder of Axactor.

“I am highly motivated to lead Axactor as we build on our strong foundation and drive improved performance and innovation across the group together with our 1150 talented employees, the Board and our funding partners” says Johnny Tsolis, CEO at Axactor. “Profitability, return on capital and value creation for all stakeholders will be my top priority for the years to come.”

For additional information, please contact:

Glen Ole Rødland, Chairman of the Board
Mobile phone: +47 907 41 662
Email: [email protected]

About Axactor

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 provides debt collection and accounts receivable management for third parties. For more information see www.axactor.com

Kilde

TekBot · juni 26, 2020, 2:16pm

Employee share option program

The Board of Directors of Axactor SE (the Company) has resolved to grant options to the Chairman of the Board and 11 employees of the Company.

The grant of options is based on the authorization from the Company’s annual general meeting 1 April 2020 to issue new shares in connection with the Company’s incentive plan for employees, and the same annual general meeting’s adoption of the statement of the board regarding long term incentive plans.
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A total of 6 500 000 share options are approved in a groupwide program comprising key employees in the Company fulfilling certain criteria. Each option will give the right to one share in the Company.

Pursuant to the vesting schedule, one third of the options will vest one year after the day of grant, one third of the options will vest two years after the day of grant and one third of the options will vest three years after the day of grant. Vesting requires the option holder still to be an employee in the Company. For the tranches vesting each year, the exercise price per share is NOK 17.25 for 20% of the options, NOK 22.00 for 30% of the options and NOK 28.00 for the last 50% of the options. Options that have not been exercised will lapse 5 years after the date of grant.

Primary insiders in the Company have received the following grants of options, according to the terms described above:

Glen Ole Rødland, Chairman of Axactor SE, has been granted 1 000 000 share options. Following the grant, he holds 0 shares and 1 000 000 options in the Company.

Johnny Tsolis, CEO of Axactor SE, has been granted 750 000 share options. Following the grant, he holds 1 570 000 shares and 1 742 456 options in the Company.

Arnt Andre Dullum, COO of Axactor SE, has been granted 375 000 share options. Following the grant, he holds 41 674 shares and 556 228 options in the Company.

Robin Knowles, Chief of Investments in Axactor SE, has been granted 375 000 share options. Following the grant, he holds 278 180 shares and 692 228 options in the Company.

Vibeke Ly, Chief of Staff in Axactor SE, has been granted 375 000 share options. Following the grant, she holds 0 shares and 541 228 options in the Company.

In addition, the country managers in the Axactor have received the following grants of options, according to the terms described above:

Stina Koren, Country Manager in Axactor Norway, has been granted 375 000 share options. Following the grant, she holds 20 000 shares and 668 713 options in the Company.

Lisa Sohtell, Country Manager in Axactor Sweden, has been granted 375 000 share options. Following the grant, she holds 0 shares and 718 713 options in the Company.

Jarkko Jalonen, Country Manager in Axactor Finland, has been granted 375 000 share options. Following the grant, he holds 366 108 shares and 668 713 options in the Company.

Steffen Fink, Country Manager in Axactor Germany, has been granted 375 000 share options. Following the grant, he holds 0 shares and 375 000 options in the Company.

Antonio Cataneo, Country Manager in Axactor Italy, has been granted 375 000 share options. Following the grant, he holds 0 shares and 568 713 options in the Company.

Andres Lopez, Country Manager in Axactor Spain, has been granted 500 000 share options. Following the grant, he holds 1 177 525 shares and 901 313 options in the Company.

David Martin, Country Manager in Axactor Spain, has been granted 500 000 share options. Following the grant, he holds 1 177 525 shares and 901 313 options in the Company.

Out of the 6 500 000 share options approved, 750 000 share options are kept for future allocations.

Kilde

Tekspert · juli 1, 2020, 10:00am

Hver måned kårer jeg det jeg kaller Teksperter™ for noen av de mest populære investeringene våre

Det er de 3 medlemmene som har fått flest likes på innleggene sine de siste 90 dagene. Teksperter™ får også en unikt merke på profilen sin og et trofé-ikon ved siden av navnet sitt. Du kan bli Tekspert™ i flere aksjer/investeringer, og troféet vil bare vises i tråder der du er Tekspert™.

Her er denne månedens Teksperter™ og det mest likte innlegget deres fra de siste 90 dagene:

@Buffet (7 likes)

@GriseFlax (5 likes)

@Kvadro (4 likes)

Resten av topp 10:

@Savepig (2 likes)
@Bingo123 (2 likes)
@rokky (2 likes)
@Longtrader (2 likes)
@Salamis (2 likes)
@Shadmar (1 likes)
@Kratos (1 likes)

Gratulerer!

odin1 · juli 9, 2020, 11:11am

deler den

MOluf · juli 13, 2020, 8:13pm

Oppdaterte nylig min oversikt over JFs innsidekjøp til å inkludere kjøp siden sist oppdatering fra undertegnede.

Noen kommentarer/observasjoner:

JF har nå en snittkurs på omlag 21,09 NOK/aksje. Med fredagens sluttkurs på 6,80 NOK tilsvarer det et papirtap på 67,76% eller totalt nesten 850 millioner NOK.
JF er snaut 2,56 millioner aksjer unna budplikt i Axactor (oppnås ved eierandel > 1/3). Siste kjøp av JF ble foretatt 6. mars til kurs 11,40 NOK. Jf. verdipaperhandelloven §6-10 fjerde ledd skal tilbudsprisen ved budplikt “være minst like høy som det høyeste vederlag tilbyderen har betalt eller avtalt i perioden 6 måneder før tilbudsplikten inntrådte”. Om jeg da tenker litt høyt, så vil det være fornuftig for JF å vente med å kjøpe de siste 2,56 millioner aksjene som utløser budplikt til etter 6 mnd har passert siden 6. mars (dvs. til etter 6. september). Dette er selvsagt gitt at kursen ikke vil passere 11,40 NOK innen den tid, som for øvrig er nesten 75% over fredagens sluttkurs.
Ellers interessant å se at JF per fredag har 190 500 aksjer utlånt til short. Dette er beregnet ved å sammenligne aksjebeholdning oppgitt i børsmelding med antall aksjer oppgitt i aksjonærlistene hos Tekinvestor per 13.07.

TekBot · juli 15, 2020, 11:54am

Axactor SE - Invitation to presentation of Q2 2020 results

rayman · juli 15, 2020, 10:26pm

Er i såfall andre grunner enn at amerikanske selskaper innen samme bransje går opp…

Kvadro · juli 16, 2020, 5:26pm

Hva mener folk om prisingen av Axactor? Det er priset inn et ganske så begredelige Q2. Men om vi ser framover, hva kan vi forvente? Tenker da på at styreleder Glen Ole Rødland i Axactor gikk ut i media og fortalte at selskapet skal gå inn i en ny fase hvor avkastning på kapital, lønnsom vekst og å utbetale utbytte til investorene blir hovedprioriteringene.

Jeg må si at selskapet er attraktivt priset på sikt, å i et markedet hvor penger på bok er tap, så frister det med utbytte framover for min del!

rayman · juli 16, 2020, 5:28pm

Selv avventer jeg til Q2 blir lagt frem…