AIK - 2nd quarter 2010 results
(Thomson Reuters ONE) -
Q2 2010: EFFICIENT ORGANISATION POSITIONED FOR PORTFOLIO ACQUISITIONS
(Oslo, August 19, 2010) Aktiv Kapital reports second quarter 2010 operating
profit of NOK 102.7 million, compared with NOK 105.4 million in the same quarter
last year. Portfolio collection was NOK 367.9 million, compared with NOK 452.0
million in the second quarter of 2009. The decrease is mainly related to minor
portfolio acquisitions.
"The numerous operational improvements we have made during the last 18 months
are having a positive effect on the results. We are reporting an operating
profit in line with the same quarter last year. However, portfolio collection is
affected by the lack of significant portfolio acquisitions over a period of
time. Even though there has been a substantial increase in non-performing loans
throughout Europe, financial institutions are reluctant to offer portfolios for
sale. Today, Aktiv Kapital has an efficient organization well positioned to take
advantage of the opportunities we see coming. We have a pipeline of more than
40 portfolios with a face value of more than EUR 4.5 billion expected to be sold
during 2010 or early next year" says Erik Oyno, President and CEO of Aktiv
Kapital.
Aktiv Kapital achieved operating revenue of NOK 281.4 million (NOK 300.5
million) in the second quarter of 2010. The revenue decrease is mainly within
the portfolio segment. Operating revenue from the third party debt collection
segment was NOK 53.6 million (NOK 58.0 million).
Operating profit before depreciation and amortisation (EBITDA) was NOK 249.6
million (NOK 328.8 million), while cash flow per share was NOK 4.73 (6.04).
+-----------------------------------+------------+-------------+---------+
| |Second |First half |Full year|
| |quarter |year | |
| | | | |
|NOK million if not otherwise stated|2010 2009 |2010 2009 |2009 |
+-----------------------------------+------------+-------------+---------+
|Paid in on portfolios |367.9 452.0 |739.8 943.2 |1 792.8 |
| | | | |
|Operating revenue |281.4 300.5 |563.9 649.1 |1 190.0 |
| | | | |
|EBITDA |249.6 328.8 |494.4 658.4 |1 268.4 |
| | | | |
|Operating profit (EBIT) |102.7 105.4 |207.0 228.5 |390.6 |
+-----------------------------------+------------+-------------+---------+
|Pre-tax cash flow per share (NOK) |4.73 6.04 |9.37 12.23 |23.7 |
+-----------------------------------+------------+-------------+---------+
The second quarter 2010 report can be found on www.newsweb.no
For further information, please contact:
Erik Oyno, CEO
Tel.: +47 22 91 59 55
Mobile: +47 90 13 12 03
Scott Danielsen, CFO
Tel.: +47 22 91 59 54
Mobile: +47 95 25 56 20
Breakfast presentation
A presentation will be held at 09:00 CET on Thursday 19th of August 2010 at
Shippingklubben, Haakon VII'sgt 1, Oslo. The presentation will be held by CEO
Erik Øyno and CFO Scott Danielsen. Breakfast will be served from 08:30 CET.
In connection with the presentation, a teleconference/webcast will be held as
described below:
Webcast
Go towww.aktivkapital.com and click on the link to "Webcast" in order to view
the presentation on the web.
Conference call
Call-in numbers:
+47 2415 9758 Norway Toll
800 19640 Norway Toll Free
+44 (0)20 7806 1951 UK Toll International call
0800 028 1243 UK Free phone
1888 935 4575 US Free phone
+1 212 444 041 US Toll
The participants will be asked for their name, company and conference ID. The
Aktiv Kapital conference ID is: 6046508
To participate please register at least 10 minutes before the presentation
starts.
About Aktiv Kapital
Headquartered in Oslo, Norway. Aktiv Kapital has operations in nine countries,
and is one of Europe's and Canada's largest investor of non-performing consumer
credits. Aktiv Kapital had in 2009 an operating revenue of NOK 1,190 million.
Within the Portfolio segment Aktiv Kapital had approximately 430,000 paying
customers in 2009. Aktiv Kapital 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 acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1438839]
Q2 2010:
http://hugin.info/275/R/1438839/383287.pdf
Q2 2010 Presentation:
http://hugin.info/275/R/1438839/383288.pdf
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All reproduction for further distribution is prohibited.
Source: Aktiv Kapital via Thomson Reuters ONE
Datum: 19.08.2010 - 08:31 Uhr
Sprache: Deutsch
News-ID 39812
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