Q1 2023 Axactor ASA Earnings Call Transcript
Good morning, and welcome to Axactor's first-quarter presentation for 2023. This presentation will be divided into four parts. First, I will take you through the highlights of the quarter; then our CFO, Nina Mortensen, will present Q1 financials before we give an updated outlook and round off with the Q&A session. As always, you may ask a question live after the presentation or through the available chat function.
Now let us move to slide 3, and I will look at the first-quarter highlights. As most of you have noted, we have renewed our EUR545 million RCF well within our previously announced timeline. The new agreement is a three-year contract with the option to extend the maturity with additionally two years. The two-year extension option is subject to a separate credit approval.
Cash EBITDA was up 4% year over year. In addition to macroeconomic headwinds in the Nordics and in Germany, a strike in the Spanish court system and unfavorable FX movements has had a negative impact on cash EBITDA. Estimated growth would have been 11% given constant
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