Brief: Axactor Q1 Net Revenue Down At EUR 55.6 Mln

Axactor ASA

21/04/2020 06:07

April 21 (Reuters) - Axactor SE  AXAC.OL :
    * Q1 GROSS REVENUE DECLINED 13% TO EUR 79.2 MILLION COMPARED
TO
SAME QUARTER LAST YEAR, MAINLY DUE TO A 53% REDUCTION OF REO
REVENUES
    * Q1 EBITDA WAS EUR 14.1 MILLION AND CASH EBITDA EUR 48.2
MILLION
IN Q1 2020, WHEREAS NET PROFIT AMOUNTED TO EUR 3.4 MILLION
    * Q1 NET REVENUE DECREASED BY 25% TO EUR 55.6 MILLION
    * GIVEN CURRENT EXTRAORDINARY MEASURES TO CONTAIN
CORONAVIRUS, WE
EXPECT NEGATIVE EFFECTS TO DEEPEN IN Q2
    * EXPECTS CURRENT SITUATION TO BOOST DEMAND FOR 3PC SERVICES
FROM
SECOND HALF OF 2020
    * CHANGING MARKET ENVIRONMENT IS ALSO EXPECTED TO GENERATE A
SIGNIFICANT DOWNWARD SHIFT IN PRICING OF NPL PORTFOLIOS
    * DEBT COLLECTION MARKET IS ESTIMATED TO ABOUT 1,000 BILLION
EUROS
ACROSS EUROPE, PROVIDING SIGNIFICANT OPPORTUNITIES FOR FUTURE
EXPANSION

Source text for Eikon:  ID:nObiS4nNya 
Further company coverage:  AXAC.OL 

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