Axactor ASA (0QIG) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning or good afternoon all and welcome to the Exactor ASA presentation of Q4 results. My name is Adam and I'll be your operator today. If you'd like to ask a question during the Q&A portion of today's call, you may do so by pressing star followed by one on your telephone keypad or by submitting a text question through the webcast. I will now hand the floor to Johnny Tsirilis, CEO to begin. Good morning and welcome to Exactor's fourth quarter presentation. With me today, I have our CFO, Nina Mortensen. This presentation will be divided into four parts. First, I will take you through the Q4 highlights. Then Nina will present financials before I go through our key focus areas going forward. We will round off with a Q&A session. Let us move to slide 3 and have a look at the highlights for the quarter. Before I start, please note that the numbers are affected by one-off effects, in particular portfolio sales in both 2024 and 2025. Reference is made to the footnotes. In Q4, Axtractor delivered revenue growth with positive contribution from both segments. NPL gross revenue grew by 3% year-over-year, and the 3PC growth was impressive 16%. Axtractor delivered a solid cash EBITDA of €54 million, up from €51 million last year. Cash EBITDA margin increased from 63% to 64%. Annualized return on equity to shareholders was 14%. We continued to see positive effects from both changes in the IBOR interest level and reduced net debt, resulting in a 15% year-over-year reduction in interest expenses on borrowings. During the quarter, we divested a couple of smaller-sized portfolios in Germany and Spain, and we did so at a solid premium-to-book value. The transaction strengthened the balance sheet and contributed to the strategy of renewing the NPL book. Let's move to slide 4 for ...