Axactor Asa · OSL:ACR
Axactor Asa — Investor Presentation (April 2018)
11 slides from Axactor Asa's investor presentation, Apr 13, 2018
Slide 1: Axactor company presentation
Axactor company presentation Oslo, April 13th, 2018
Slide 2: This is Axactor
This is Axactor Axactor in brief Axactor geographic footprint • Axactor is a Nordic-based debt management company with operations in five European countries Axactor established as a − Established in December 2015 – rapid expansion large debt collection player − En route to execute on clearly defined
Slide 3: Significant expansion since inception late 2015
Significant expansion since inception late 2015 Key milestones and achievements Equity capital markets development1 Share price development (NOK) 4.0 3.5 Dec ‘15 May ‘16 Sep ‘16 • +900 employees 3.0 • System consolidation 2.5 Platform across platforms to secure 2.0 x2 acquisitions optimal operationa
Slide 4: Axactor is no longer a "start-up" company
Axactor is no longer a “start-up” company • RCF with Nordic banks – 200 mEUR + 150 mEUR accordion option • Bond 150 mEUR + 100 mEUR tap option • Geveran mezzanine 120 mEUR 1 Long-term financing is established • Bank facility for Axactor/Geveran SPV – 80 mEUR + 40 mEUR accordion option • Local credit
Slide 5: What is truly unique with Axactor compared to peers?
What is truly unique with Axactor compared to peers? - The combination of the four elements creates the advantage Strong and rapidly improving cost position • Due to limited legacy in the structure, the operational costs is strong and improving • Scale will continue to fuel this trend Axactor “mode
Slide 6: Scale versus complexity in the debt collection industry
Scale versus complexity in the debt collection industry Complexity • Control span (region structure?) • System complexity (IT systems) • Mode of operations • Compliance (e.g. GDPR) • One company culture Financial Scale effects Operational • Primarily three different scale effects • Financial (fundin
Slide 7: Standardization is used to reduce costs and to drive efficiency
Standardization is used 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 • ERP/Finance/HR 1 decrease year over year • Portfolio pricing •
Slide 8: Trends in Spanish macro and banking supportive of REOs
Trends in Spanish macro and banking supportive of REOs Unemployment declining2 After years of decline, lending in the banking sector is rising Unemployment rate Development in consumer lending balances among selected Spanish banks (EUR million)1 30% 25% 20% +15% +22% +37% 15% 3,336 9,929 9,800 2,911
Slide 9: Acquisition of REO portfolios attractive for Axactor
Acquisition of REO portfolios attractive for Axactor Real Estate Owned (REO) attractions 1 Attractive stand-alone returns IRR normally 30-60% higher than for B2C unsecured Regulatory changes driving 6 Improved macro 2 large transaction volumes environment in Spain More than 70 transactions last 3 ye
Slide 10: REOs have significantly shorter payback time relative to NPL portfolios
REOs have significantly shorter payback time relative to NPL portfolios Portfolio cash flow characteristics Comments • NPL portfolios with finance claims are characterised by long and stable Gross collection in year cash flows (+15 years) NPL REO − REO portfolios typically last 3-5 years before depl
Slide 11: Shareholders and BoD
Shareholders and BoD Employees owns Top 20 shareholders approximately 10% of Board of directors the company Bjørn Erik Næss Investor Number of shares % of total Chairman Geveran trading 173 902 500 11,47 % Verdipapirfondet DNB Norge 106 704 919 7,04 % Tvenge Torstein 70 000 000 4,62 % Ferd 53 351 39