AIK: 4th quarter 2011 results
(Thomson Reuters ONE) -
Strong collection performance and operating results
(All amounts in the report are related to continuing operations unless otherwise
noted. Amounts in brackets throughout the document refer to the corresponding
period of 2010 unless otherwise noted)
Aktiv Kapital improves operations with collections above forecast and reduced
operating expenses. The Group is strengthening its' investment capabilities and
will continue to streamline and simplify the organisation through 2012.
Operating revenues were NOK 241.2 million (NOK 243.5 million) and operating
profit NOK 224.3 million (NOK 103.1 million) in the 4(th) quarter of 2011. Cash
collection on portfolios amounted to NOK 364.3 million in the 4(th) quarter (NOK
391.0 million) and the decay rate was 10.6% in the 4(th) quarter, down from
12.2% in the 3(rd) quarter.
"Collections on existing portfolios continue to be strong. Through the quarter
we also simplified our organisation and reduced cost, delivering a solid
operating profit and cash flow for the quarter" says CEO Geir Langfeldt Olsen.
The Board of Directors proposes a dividend of NOK 1.50 per share for 2011.
Collection on portfolios has been consistently above the 10 year forecast, as
such a positive revaluation of the portfolios with NOK 116.3 million (NOK -0.7
million) has been recorded in the 4(th) quarter. The revaluation relates mainly
to Switzerland, Norway and Austria. The focus throughout the organisation is
maintaining a cost effective structure, and this is effected in the operating
expenses in the 4(th) quarter of NOK 133.2 million (NOK 140.0 million).
Operating profit before depreciation and amortisation (EBITDA) amounted to NOK
241.8 million (NOK 261.4 million), while pre-tax cash flow per share was NOK
4.80 (NOK 5.24). Operating profit came in at NOK 224.3 million (NOK 103.1
million) in the 4(th) quarter of 2011.
In the 4(th) quarter, Aktiv Kapital has invested NOK 141.0 million in new
portfolios (NOK 119.5 million). The net book value of the portfolios at 31
December 2011 amounted to NOK 3 096.8 million.
KEY FIGURES
(all amounts in NOK thousand) Q4 2011 Q4 2010 Year 2011 Year 2010
Collection on portfolios 364 307 390 959 1 443 426 1 512 408
Total operating revenue 241 250 243 481 950 681 946 423
EBITDA 241 757 261 355 939 363 996 111
Operating profit (EBIT) 224 332 103 055 527 143 395 948
Pre-tax cash flow per share (NOK) 4,80 5,24 18,74 19,06
For more information please contact:
Geir Langfeldt Olsen, CEO
Tel.: +47 24 10 31 10
Scott Danielsen, CFO
Tel.: +47 24 10 31 11
Email:info(at)aktivkapital.com
About Aktiv Kapital
Aktiv Kapital operates in nine countries and is headquartered in Oslo. The Aktiv
Kapital Group is one of the largest investors in non-performing credit
portfolios in Europe and Canada. In 2010, Aktiv Kapital had NOK 1 512 million in
cash collection and 356 000 paying customers. The Company is listed on the Oslo
Stock Exchange (AIK).
For more information about Aktiv Kapital, please visit:www.aktivkapital.com.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Q4 2011 Presentation:
http://hugin.info/275/R/1589792/499349.pdf
Q4 2011:
http://hugin.info/275/R/1589792/499348.pdf
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aktiv Kapital via Thomson Reuters ONE
[HUG#1589792]
Datum: 29.02.2012 - 08:32 Uhr
Sprache: Deutsch
News-ID 119825
Anzahl Zeichen: 4444
contact information:
Town:
Oslo
Kategorie:
Business News
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