Axactor ASA (0QIG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and welcome to the Exactor Q2 2025 results. My name is Nadia and I'll be coordinating the call today. If you would like to ask a question at the end of the presentation, please press star followed by one on your telephone keypad. If you have joined via the webcast, you can submit written questions below the slides on the bottom right of your screen. I will now hand over to your host, Jonny Solis, CEO to begin. Jonny, please go ahead. Good morning and welcome to Axtractor's second 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 Q2 highlights. Then Nina will present the financials before I give an updated outlook. We will round off with the Q&A session. Let us move to slide three and have a look at the highlights for the quarter. During Q2, we had a lot of focus on refinancing and we did mainly two things. We prolonged the RCF with two more years at attractive terms, and secondly, we placed a new 125 million euro bond. Even though we still think the market required a too large spread, we were able to place the new bond, ACR05, with more than three percentage points lower total interest rate than the previous one, ACR04. I think we now can say that for all practical purposes the refinancing is done, and we are well positioned to shift strategic focus to MPL investments and growth. Collection performance was 102% for the quarter, which affirms the updated collection forecast after the revaluations done in Q4 last year. This is the second quarter in a row that we are on the positive side of our collection forecast. Total gross revenue ended at 81 million euros. This is basically on par with last year after adjusting for the Spanish portfolio sales in 2024, de...