Axactor ASA: Fourth quarter and full year financial results 2024

(Oslo, february 14th 2024) Axactor ASA (Axactor, OSE:ACR) published fourth quarter and full year financial results 2024

Key figures Q4 2024 (change from continuing operations Q4 2023 in brackets)*

Gross revenue of EUR 161m (up 89%)
Total revenue of EUR -43m (down EUR 108m)
EBITDA of EUR -74m (down EUR 108m)
Cash EBITDA of EUR 130m (up 135%)
Profit after tax of EUR -85m (down EUR 94m)
NPL investments of EUR 34m (up 39%)

Key figures full year 2024 (change from continuing operations 2023 in brackets)*

Gross revenue of EUR 415m (up 21%)
Total revenue of EUR 128m (down 50%)
EBITDA of EUR 9m (down 93%)
Cash EBITDA of EUR 298m (up 35%)
Profit after tax of EUR -79m (down EUR 113m)
NPL investments of EUR 128m (up 10%)

For more information about the financial results, visit Axactor Group

The portfolio sale in Spain at attractive terms, in addition to our repurchase of the 2026 bond, demonstrates Axactor’s commitment to value creating transactions such as potential further accretive bond repurchases and portfolio divestures in 2025, says CEO Johnny Tsolis, and continues:

Although our near-term outlook has been taken down, we have also significantly reduced the risk in our balance sheet. The revaluations will help us improve our collection performance versus forecasts and we have created covenant headroom through the Spanish portfolio sale. We expect reduced interest expenses from both falling IBOR curves and reduced debt, and will continue our focus on cost, collections and efficiency, which in total provides a solid outlook for the coming quarters.

Johnny Tsolis, CEO of Axactor

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