AKTIV KAPITAL MAINTAINS PROFITABILITY IN CHALLENGING MARKET
(Thomson Reuters ONE) -
(Oslo, February 26, 2010) Aktiv Kapital reports fourth quarter 2009 portfolio
collection of NOK 402.8 million, compared with NOK 531.6 million in the fourth
quarter 2008. Total operating expenses in the quarter were reduced 26 percent
year-over-year, to NOK 187.4 million.
Aktiv Kapital achieved operating revenues of NOK 251.6 million (NOK 303.4
million) in the fourth quarter of 2009.The revenue decrease is within the
Portfolio segment. Operating revenues from the Third party debt collection
segment is relatively stable at NOK 60.3 million (NOK 62.9 million). Operating
profit before depreciation and amortisation (EBITDA) is at NOK 282.4 million
(NOK 348.6 million) in the fourth quarter.
For the full year 2009, Aktiv Kapital recorded revenues of NOK 1 190.0 million
compared with NOK 1 350.8 million, a decline of 12 percent.As a consequence of
the extensive cost reduction implemented in 2009, EBITDA however decreased by
only five percent to NOK 1 268.4 million.
"2009 was a challenging year with difficult macroeconomic conditions which
negatively affected collection.Aktiv Kapital adjusted to the market conditions
and implemented cost cuts, developed more efficient collection methods, and
managed to reduce interest-bearing debt by NOK 1.2 billion. Moving into 2010,
Aktiv Kapital has an efficient organisation and is well positioned to acquire
portfolios when risk/reward relationships are attractive" says Erik Oyno,
President and CEO of Aktiv Kapital.
"Aktiv Kapital will in 2010 further strengthen the focus on portfolio
acquisition and ownership as a separate segment in addition to the existing
portfolio collection and third party debt collection areas. We expect that this
will increase transparency and operational flexibility. We also believe that
improved valuation models will contribute to profitable investments and yield
better return from portfolios going forward" Erik Oyno continues.
Key figures:
| |
| Fourth quarter | Year
------------------------------+-------+--------+---------+----------
NOK million | 2009 | 2008 | 2009 | 2008
------------------------------+-------+--------+---------+----------
Paid in on portfolios | 402.8 | 531.6 | 1 792.8 | 1 982.6
------------------------------+-------+--------+---------+----------
Operating revenues | 251.6 | 303.4 | 1 190.0 | 1 350.8
------------------------------+-------+--------+---------+----------
EBITDA | 282.4 | 348.6 | 1 268.4 | 1 334.4
------------------------------+-------+--------+---------+----------
Pre-tax cash flow per share | 5.28 | 6.28 | 23.70 | 24.27
| | | |
The fourth quarter 2009 report can be found on www.newsweb.no
For further information, please contact:
Erik Oyno, CEO
Tel.: +47 22 91 59 55
Mobile: +47 90 13 12 03
Scott Danielsen, CFO
Tel.: +47 22 91 59 54
Mobile: +47 95 25 56 20
To the editorial offices
A conference call will be held at 14:00 CET on Friday 26th of February 2010. The
presentation will beheld by CEO Erik Øyno and CFO Scott Danielsen. The following
options are available:
Webcast
Go towww.aktivkapital.com
to "Webcast" in order to listen to the conference call and view the presentation
on the web. This alternative does not allow you to participate in the live Q&A
session subsequent to the presentation.
Teleconference
This service allows you to ask questions at the Q&A session at the end of the
webcast presentation.To participate in the Conference Call please register at
least 10 minutes before the presentation starts. Call-in numbers:
Norway Toll Free call 800 19640
International call +44 (0)20 7806 1951
UK Toll Free call 0800 028 1243
USA Toll Free call 1888 935 4575
The participants will be asked for their name, company and conference ID. The
Aktiv Kapital conference ID is: 6732544
About Aktiv Kapital
Headquartered in Oslo, Norway. Aktiv Kapital has operations in 10 countries, and
is one of Europe's and Canada's largest investor of non-performing consumer
credits. Aktiv Kapital had in 2009 an operating revenue of NOK 1 190 million.
Within the Portfolio segment Aktiv Kapital had approximately 430 000 paying
customers in 2009. Aktiv Kapital is listed on the Oslo Stock Exchange (AIK).
For more information about Aktiv Kapital, please visitwww.aktivkapital.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1388857]
Q4 2009: http://hugin.info/275/R/1388857/347090.pdf
Marketpresentation Q4 2009: http://hugin.info/275/R/1388857/347095.pdf
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Datum: 26.02.2010 - 02:31 Uhr
Sprache: Deutsch
News-ID 1010721
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