Axactor SE

Earnings Release • Oct 27, 2022

Axactor ASA: Third quarter financial results

Axactor ASA: Third quarter financial results

(Oslo, 27 October 2022) Axactor ASA (Axactor, OSE: ACR) announce third quarter

financial results.

Key figures Q3 2022 for continuing operations (Change from Q3 2021 in brackets)*

- Gross revenue of EUR 82m (up 17%)

- Total income of EUR 59m (up 51%)

- EBITDA of EUR 30m (up 133%)

- Cash EBITDA of EUR 54m (up 22%)

- Return on equity 10% (up 12pp)

- NPL investments of EUR 69m (up 114%)

"We deliver a solid quarter with 10% annualized return on equity and a cash

EBITDA growth of 22% y-o-y on continuing operations. Furthermore, I am

pleased to see that we have further improved our cost position and can report an

industry leading cost-to-collect of 38% so far in 2022. The leading cost

position becomes visible through a solid EBITDA-margin of 51% for the quarter"

says Johnny Tsolis, CEO of Axactor.

Outlook

- Interest expense on borrowings is expected to increase by EUR 2.1m from the

third quarter to the fourth quarter of 2022. A further 1pp increase in interest

rates is estimated to increase quarterly interest expenses by EUR 1.8 million

- A mixed outlook on backbook collections: Rising inflation and interest rates

might put pressure on debtors' ability to repay and postpone collections whereas

low unemployment rates, increasing salaries and government aid packages is

expected to partly offset challenges

- Continued growth and margin expansion on NPL. Already secured NPL investments

of more than 2x replacement capex in 2022 at attractive prices.

Presentations

10:00 am CET: The results will be presented in a global investor webcast with a

live Q&A session. A recording of the webcast will be made available after the

live stream is concluded on axactor.com.

Webcast participation will be possible via the following:

Streaming

- https://streams.eventcdn.net/axactor/q3-2022/

Phone

- Dial-in pin: 059860

- Norway: +47 81 50 33 08

- Sweden: +46 10 884 80 16

- Denmark: +45 89 87 50 45

- United Kingdom: +44 20 3936 2999

- United States: +1 646 664 1960

For additional information, please contact:

Johnny Tsolis, CEO, Axactor

Tel: +47 913 35 461

E-mail: johnny.tsolis@axactor.com

Kyrre Svae, Chief of Strategy & IR, Axactor

Tel: +47 478 39 405

E-mail: kyrre.svae@axactor.com

To learn more about Axactor, visit www.axactor.com

*EBITDA and other alternative performance measures (APMs) are defined and

reconciled to the IFRS financial statements as a part of the APM section on page

38-40 of the third quarter financial report.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act. This stock exchange

announcement was published by Kyrre Svae, Chief of Strategy & IR at Axactor ASA,

on 27 October 2022 at 07:00 CET.