Axactor (ACR)

[MTH]

Endre ned i dag

[Longtrader]

Men er nok flere som tar større posisjoner nå, for du får mye aksjer for samme beløpet, så håper det snører seg til litt for flere.

[Longtrader]

Holder seg fint i dag, fikk en del på morgen som er ute igjen , ble 30øre.

[TekBot]

Axactor SE – Operational and financial update

Oslo, 23 March 2020

The coronavirus outbreak and the Government measures to limit the spreading of the virus have created an extraordinary situation for people, organizations and businesses in affected areas. Axactor hereby provides an update of the operational and financial implications.
…

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Axactor acts responsibly and in compliance with rules and recommendations from national and local authorities in all the six countries with operations, both to protect its employees and their families and local communities, and to ensure that the company remains operational for its customers, debtors and partners. So far, the company has registered zero cases of COVID-19 among its employees.

Operational update
The company has activated business continuity plans in response to the situation and has to date remained in full operation in all countries. Most of the employees are now working from remote locations, with exception of certain critical roles that require physical presence. The call centres in Valladolid and Alicante in Spain have remained open.

Axactor has since the beginning in 2015 been built as a technology and IT-driven company with secure and scalable digital solutions at the core of its operating model. Axactor’s cloud-based collection systems are supported by outsourced IT-solutions, and in combination with a lean and flexible operating model this has enabled Axactor to remain in full operation despite the current extraordinary environment.

As the COVID-19 virus continues to spread, Axactor is working on the assumption that the macroeconomic situation may worsen further in the coming months. The company has not yet implemented temporary workforce reductions, although this is considered as part of the ongoing cost savings initiatives to adapt to the situation.

Responsible Collection
Axactor is observing lower collection performance as a result of the comprehensive COVID-19 measures, particularly in Italy and Spain. This is both due to a worsened financial situation for many debtors but also slower processes at bailiffs and public notary offices. The Italian operation, which is hardest hit, accounts for approximately 5% of revenue and a lower percentage of the results. In Spain, representing approximately 45% of revenue, the closure of public offices also affects the completion of REO sales agreements and realization of secured assets. The collection performance has so far held up better in Germany and the Nordics.

Axactor acknowledges that the debt management and collection industry plays an important role in society, not least in times like these. “In the current environment, Axactor is committed to finding the best possible solutions for our customers, debtors and partners. Sustainability begins within the organization, and everyone from the top management throughout the entire organization are accountable for conducting business in an ethical, sustainable and socially responsible manner. We remain confident that we are equipped to navigate through this economic crisis,” says Endre Rangnes, Axactor CEO.

Overall, Axactor sees a significant revenue shortfall in the first quarter and a further revenue decline in the second quarter 2020, although the total effects are still too early to quantify. Looking further ahead into the second half of the year, the company expects the situation to generate increasing 3PC volumes due to a higher volume of non-performing loans on the customers’ balance sheets.

Financial position
Axactor had total equity of EUR 378 million at the end of 2019 and an equity ratio of 30%. The cash balance was EUR 72 million. The equity was further strengthened through an equity issue in February 2020, which generated gross proceeds of approximately EUR 51 million.

Even though revenue and EBITDA levels in the first quarter of 2020 will fall significantly below forecasts, the operational cash flow from the business will contribute positively to liquidity.

The challenging global economic outlook and highly volatile financial markets will likely mean that an increasing amount of non-performing loans will come to the market at significantly lower prices. Due to the current high uncertainty, Axactor will nevertheless hold back on investments in new NPL portfolios while remaining committed to already entered forward flow agreements. At the end of 2019, Axactor had entered into forward flow agreements with an estimated capital requirement level of EUR 178 million for 2020.

For additional information, please contact:

Endre Rangnes, CEO, Axactor
Mobile phone: +47 482 21 111
Email: endre.rangnes@axactor.com

Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com

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.

Kilde

[Longtrader]

Eg likte denne oppdateringen, kommer det flere kjøpere på 5kr om vi åpner der, mest sansynlig åpner vi høyere.

Ved utgangen av 2019 hadde inkassoselskapet en egenkapital på 378 millioner euro og en egenkapitalandel på 30 prosent. Kontantbeholdningen var på 72 millioner euro. I februar gjennomførte Axactor en emisjon som tilførte et bruttoproveny på cirka 51 millioner euro.

«Selv om omsetningen og EBITDA vil falle under prognosene i første kvartal, vil den operasjonelle kontantstrømmen likevel bidra positivt til likviditeten», heter det i børsmeldingen.

Vil holde igjen
Axactor tror at utfordrende økonomiske utsikter og ustabile finansmarkeder vil føre til at en rekke misligholdte gjeldsporteføljer vil komme til markedet til lave priser.
På grunn av den høye usikkerheten vil Axactor imidlertid holde igjen nye porteføljekjøp.

Ved utgangen av 2019 hadde selskapet forpliktet seg til forward flow-avtaler med et kapitalbehov på 178 millioner euro for 2020.

[MTH]

Ja, vurderer å senke gjennomsnittet. Er dog ikke sikker, Spania blir hardt rammet og de har stor eksponering der.

[Longtrader]

nei, er såklart ikke sikker.

eg har tatt en grunn beholdning, også prøver eg å kjøpe på svake åpninger og selge på ettermiddag slik en drar inn litt. Så synker snittet sakte men sikkert.

Men selvsagt surt om en bare kunne gå ut og så kjøpe inn alt igjen om den faller langt, men den burde være nær en bunn.

[Longtrader]

Skuffende rekyl, men volumet er lavt så mulig vi ikke er langt unna bunn likevel.

[MTH]

Umulig å vite om børsuroen er over, og jeg er spent om vi ser 4-tallet hvis børsen snur igjen mot slutten av uka.

[Longtrader]

ja, eneste grunnen til eg ennå ikke har lastet helt til ripa er om vi skal en tur ned på 4.

forløpig har eg ikke mer enn eg har å trade med også.

[MTH]

5.05, tro om vi stenger sub 5

[strongbuy]

Når kommer rekylen? Vurderer å laste opp her nede på 5 blank.

[Longtrader]

ja, vurderer eg å, men stusser på hvorfor de ikke dekker shorten.

Forøvrig, med inngang på 5,5 så tar eg glatt et nytt bud på 22 Så kommer til og holde beholdning ut hele året.

[MTH]

Tok litt på 5kr. Så får vi se!

[TekBot]

Mandatory Notification of Trade

Endre Rangnes, CEO of Axactor SE, has today purchased 500,000 shares in the Company at an average price of NOK 4.9903 per shares. After this transaction Mr. Rangnes and Alpette AS, a company owned by Mr. Rangnes, controls 3,025,643 shares in the Company.

In addition Susanne Schneider, who is a related party to Mr. Endre Rangnes, has today purchased 300,000 shares at an average price of NOK 5.0477 per share. After this transaction Mrs. Schneider controls 339,832 shares in the Company.
…

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Kilde

[Kvadro]

Kan være et positivt signal

[Bingo123]

Men selv innsidekjøp ser ikke ut til å hjelpe her. Kanskje litt opp fra start i morgen

[Kvadro]

Nå kom jo meldingen om innsidekjøp etter at børsen var stengt. Så effekten så vi ikke idag. Men jeg tenker nok uansett lengre en bare morgendagen med mine investeringer. Legger til at jeg fulgte Aktiv Kapital som selskap igjennom finanskrisen 2008. Langsiktige kan se på selskapenes likhet når det gjelder både hovedeier og lønnsomhet over tid.

[Bingo123]

Jeg vet, men det har vært flere innsidekjøp i det siste uten at det har hjulpet. På meg virker det som om markedet ikke har tiltro til modellen. Bla har de kjøpt mye gjeld i Italia.

[Kratos]

Innsidekjøp har ingen effekt når alle børsene raser ned, slik vi har hatt det de siste ukene. Rangnes sitt innside kjøp i dag har nok mer å si, da axa har falt mye fra toppen før emisjonen.