Q3 2024 Axactor ASA Earnings Call Transcript
Key Points
- Gross revenue increased by 2% year over year, supported by a small portfolio sale in Spain.
- Cash EBITDA rose by 6% year over year, reaching EUR 59 million for the quarter.
- Operating expenses were reduced by EUR 2 million or 5% year over year, demonstrating effective cost control.
- The company aims to invest up to EUR 150 million for the year, with year-to-date investments at EUR 94 million.
- The Triple C segment experienced a 6% revenue growth, driven by strong performance in Norway, Spain, and Germany.
- Gross revenue declined by 3% year over year when adjusted for the portfolio sale in Spain.
- EBITDA decreased significantly to EUR 7 million from EUR 34 million last year, with a margin of 48%.
- The annualized return on equity in Italy was 0%, impacted by high interest rates and a challenging collection environment.
- Total income at the group level decreased to EUR 55 million from EUR 64 million in Q3 2023, affected by negative revaluations and higher amortization rates.
- The company faces cost pressures from increasing salaries, IT licenses, and office rents, necessitating ongoing cost reduction measures.
Good morning and welcome to 's third quarter presentation together with me. I have our CFO Nina Mortenson. This presentation will be divided into four parts. First, I will take you through Q3 highlights. Then Nina will go through the financial update before I present an updated outlook. As always, we will round off with a Q&A session.
Let's move to slide 3 and have a look at the highlights for the quarter.
Gross revenue increased year over year by 2%.
The marginal growth was supported by a small portfolio sale of 4 million. EUR in Spain adjusted for this. The gross revenue declined 3% year over year.
The main reasons are still economic environment, the debt relief initiatives from the governments and the relatively moderate investment levels we had in 2023.
However, cash every day was up 6% year over year reaching EUR59 million for the quarter.
Strict cost control in all markets offsets declining gross revenue and inflation.
EBD A ended at EUR7 million down from 34 million last
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
