Axactor ASA (0QIG) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to VoxActor's first quarter presentation. By my side, I have Nina Mortensen, our CFO. This presentation will be divided into four parts. First, I will take you through Q1 highlights. Then Nina will present financials before I give an updated outlook. We will round off with a Q&A session. Let's move to slide three and have a look at the highlights for the quarters. Collection performance was 101% for the quarter, which affirms the updated curve forecast after the revaluations done in Q4 last year. Total gross revenue ended at 77 million euros in the seasonally weak quarter. Here it is important to remember that we sold off approximately 6% of our total back book in the Spanish portfolio sale at the end of last year. Adjusting for this, the gross revenue was up 7% year over year. We also delivered an impressive 28% growth in the 3PC segment. On top, we managed to increase the margin. I will come back with more details. The EBITDA ended north of 32 million euros, which was an increase of 23% year over year. The solid EBITDA margin of 50% was driven by margin expansion and cost reductions. Annualized return on equity to shareholder reached 20%, which is all time high, and on par with 2026 financial targets. Oxtocler has a very solid balance sheet with close to 350 million euros in equity, which gives an equity ratio of 27%. Let's move to slide four for more comments on collection performance. I'm pleased to see that we are now back to the expected level on collection performance. This level is of course supported by the Q4 revaluations, but we can also observe positive signals in the underlying performance in certain markets. For example, we can observe more larger payments in the Norwegian market and even stronger collections in the Spanish mark...