Brief: Axactor SE Q2 EBITDA Swings To Loss Of EUR 30.0 Million

Axactor ASA

23/07/2020 06:08

July 23 (Reuters) - Axactor SE  AXAC.OL :
    * Q2 GROSS REVENUE EUR 70.8 MILLION VERSUS EUR 91.3 MILLION
YEAR
AGO
    * Q2 EBITDA LOSS EUR  30.0  MILLION VERSUS PROFIT EUR 26.1
MILLION
YEAR AGO
    * AFTER A CHALLENGING START TO Q2 WE HAVE SEEN A STRONG
UPTICK IN
PERFORMANCE FROM LATE MAY AND EXPECT THIS TREND TO CONTINUE INTO
SECOND HALF OF YEAR
    * Q2 RESULT WAS SIGNIFICANTLY IMPACTED BY COVID-19 PANDEMIC,
WHICH
RESULTED IN A DOWNWARD REVISION OF OUR PORTFOLIO BOOK VALUE
    * PLANS TO INVEST IN EXCESS OF EUR 200 MILLION IN NPL
PORTFOLIOS
DURING 2020, WHICH WILL SECURE VOLUME GROWTH ALSO GOING INTO
2021
    * COMPANY EXPECTS LOWER INVESTMENTS AND A SHIFT TOWARDS A
POSITIVE
CASH FLOW AFTER INVESTMENTS IN SECOND HALF OF YEAR

Source text for Eikon:  ID:nObiSr1xva 
Further company coverage:  AXAC.OL 

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