Axactor Asa · OSL:ACR
Axactor Asa — Arctic Securities Debt Collection Seminar (January 2019)
12 slides from Axactor Asa's conference presentation, Jan 10, 2019
Slide 1: Axactor company presentation
Axactor company presentation Arctic Securities, Debt Collection Seminar Oslo, January 10th, 2019
Slide 2: 2018 General market observations
2018 General market observations General market trends • Reduced NPL portfolios price pressure • Axactor secured high investment capacity through Bond placement, Nomura • Accelerating in 2H 2018 refinancing, co-invest with Geveran and • IRR up between 10-25%, small/mid size RCF credit lines portfoli
Slide 3: This is Axactor
This is Axactor Axactor in brief Axactor geographic footprint • Axactor is a Nordic-based debt management company with operations Axactor established as a in six European countries large debt collection player − Established in December 2015 – rapid expansion with platform companies1 − High-quality d
Slide 4: Recap Axactor strategy
Recap Axactor strategy Operational strategy: “One Axactor” • Common scalable platforms Over time, Axactor cost position will be unparalleled • Cross-boarder knowledge sharing • An efficient and professional unified corporate culture Established markets with strong growth Predictable regulatory envir
Slide 5: Standardization to reduce costs and to drive efficiency
Standardization to reduce costs and to drive efficiency Standardization - “One Axactor” Positive effects from “One Axactor” • Intility (IT Infrastructure) • Miratech partnership (AD/AM) IT & SG&A share of cost will continue to 1 decrease year over year • ERP/Finance/HR • Knowledge Sharing • Portfoli
Slide 6: Axactor revenue mix – distribution per country
Axactor revenue mix – distribution per country Gross revenue per quarter (EUR million) 70 66.7 60 56.5 50 41.0 40 34.5 30 Q3 24.9 * 23.6 56.5m 20 10 0 -10 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 ITA SWE GER NOR SPA • 139% growth vs Q3 2017 • Shift from Q2 2018 with increased share for Norway and Germany
Slide 7: Financials YTD Q3 2018
Financials YTD Q3 2018 Gross Revenue EBITDA Cash EBITDA Portfolio Investments mEUR +32 +94 (CAGR) 164 27 91 227 +173% +130% 128 70 9 19 43 22 2016 2017 2018 -5 -2 2016 2017 2018 2016 2017 2018 2016 2017 2018 Blended funding cost of approximately 4,9%* (down from 5,2% in 2018) 7 *Excluding amortized
Slide 8: Shareholder structure and development of top 20
Shareholder structure and development of top 20 Top 20 shareholders 31.12.2018 Top 20 shareholders share of total Investor Number of shares % of total GEVERAN TRADING CO LTD * 34,402,559 22.20 % 58 57% VERDIPAPIRFONDET DNB NORGE (IV) 10,303,065 6.65 % TVENGE TORSTEIN INGVALD 7,100,000 4.58 % 56 FERD
Slide 9: Consensus estimates – average target price 37 NOK
Consensus estimates – average target price 37 NOK mEUR 313 286 189 142 97 59 43 51 16 Net revenue EBITDA Cash EBITDA Q4 2018 FY 2018 FY 2019 9 *Lates estimates from ABG Sundal Collier, Arctic, DNB Markets and Nordea Markets
Slide 10: Signed capex of approximately 260 mEUR for 2019
Signed capex of approximately 260 mEUR for 2019 Actual FF investments Estimated FF investments 24 24 24 25 • Expect total portfolio investments 2019 in the region of EUR 350m to EUR 400m 21 21 21 20 19 19 • Significant forward flow contracts signed during 19 19 17 18 18 2018 in Finland, Germany, Ita
Slide 11: 2019 market outlook
2019 market outlook • IRR will continue to increase due to supply and demand imbalance • Volume increase expected, both in NPL and 3PC • Still focus on carve-out transactions in Spain – Italy emerging • Consolidation trend most likely to continue after a “short break” in 2018 • Funding situation wil
Slide 12: Klikk for å redigere tittelstil
Klikk for å redigere tittelstil AXACTOR Confidential
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