Axactor Asa · OSL:ACR
Axactor Asa — Arctic Securities Nordic Debt Collection Webinar (January 2025)
8 slides from Axactor Asa's conference presentation, Jan 10, 2025
Slide 1: Nordic Debt Collection Webinar
Arctic Securities Nordic Debt Collection Webinar Johnny Tsolis, CEO January 10th, 2025
Slide 2: Axactor at a glance
Axactor at a glance A leading European debt collector Operating in six, stable and well-developed markets • Established in 2015 with headquarters in Oslo, Norway, and Share of Total income (LTM Q3 2024) is one of Europe’s top-ten debt collectors Non-Performing Loans • Collection and acquisition of u
Slide 3: Market trends mixed, but lower interest rates a solid plus
Market trends mixed, but lower interest rates a solid plus 1 2 Collection environment Funding cost • Reduced disposable income from • Interest rates on the way down, high inflation and interest rates but from a high level • Declining interest rates should • Investors requiring higher risk improve di
Slide 4: Portfolio sale generating substantial covenant headroom
Portfolio sale generating substantial covenant headroom - and confirms book values in the Spanish market Portfolio sale comprised of older Spanish vintages Positive effect on covenants 3.8x 3.9x ≤4.0x Covenant 46% 3.0x 2.7x ≥3.0x 2016 Covenant 2019 6% 2018 28% 20% Leverage ratio Interest cover ratio
Slide 5: EUR 70m of ACR03 bond repurchased
EUR 70m of ACR03 bond repurchased Bonds repurchased in 2022 and 2024 Comments EURm EUR 19.0m bought in 2022 at average price of 89.4% of par 300 19 51 230 The purchases of bonds at sub-par value resulted in a gross gain1 of EUR 2.0m in 2022 EUR 50.9m bought in 2024 at average price of 94.2% of par A
Slide 6: Current debt structure
Current debt structure Size and maturities on current borrowings as of 31.12.2024 EURm Undrawn RCF Drawn RCF Bonds 73 195 472 545 230 73 EUR 897m 230 472 195 RCF Net outstanding ACR03 ACR04 Total debt Maturity End June 2026 September 2026 September 2027 (+1 +1 years) 6
Slide 7: Proactive approach to 2026 maturities
Proactive approach to 2026 maturities 1. RCF extension or renewal during 1H 2025 2. Prudent investment level expected in 2025 3. Refinance ACR03 during 2025 4. Diversify debt maturity profile 5. Exploration of further portfolio sales in 2025 7
Slide 8: Slide 8
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