AIK:3rd quarter 2010 results
(Thomson Reuters ONE) -
Q3 2010: OPERATING PROFIT UP 13% ON EFFICIENCY MEASURES
(Oslo, October 28, 2010) Aktiv Kapital reports third quarter 2010 portfolio
collection of NOK 381.7 million, compared with NOK 446.7 million in the third
quarter of 2009. The decrease is mainly due to lower level of portfolio
acquisitions in recent quarters. Operating profit was NOK 114.1 million,
compared with NOK 100.9 million last year.
"We are now seeing the effects of the numerous operational improvements we have
done and report an increase in operating profit of 13 percent despite a decline
in gross portfolio collection. We now have an efficient organisation and a solid
balance sheet, making us well positioned to take advantage of the market
opportunities ahead. This solid financial position will enable the Group to
expand further and may facilitate for distribution of excess capital to the
shareholders", says Erik Oyno, President and CEO of Aktiv Kapital.
Aktiv Kapital achieved operating revenue of NOK 282.3 million (NOK 289.2
million) in the third quarter of 2010. The revenue decrease is mainly related to
the third party debt collection. Revenues from this segment ended at NOK 52.0
million (NOK 60.8 million) in the quarter.
Operating profit before depreciation and amortization (EBITDA) was NOK 272.5
million (NOK 327.5 million), while pre-tax cash flow per share was NOK 5.23
(6.18).
+---------------------------------+-----------+---------------+---------+
| | Third | Year to date |Full year|
| | quarter | | |
| | | | |
|NOK million | 2010 2009| 2010 2009| 2009|
+---------------------------------+-----------+---------------+---------+
|Paid in on portfolios |381.7 446.7|1 121.4 1 390.0| 1 792.8|
| | | | |
|Operating revenue |282.3 289.2| 846.2 938.3| 1 190.0|
| | | | |
|EBITDA |272.5 327.5| 767.0 986.0| 1 268.4|
| | | | |
|Operating profit (EBIT) |114.1 100.9| 321.1 329.4| 390.6|
+---------------------------------+-----------+---------------+---------+
|Pre-tax cash flow per share (NOK)| 5.23 6.18| 14.59 18.41| 23.7|
+---------------------------------+-----------+---------------+---------+
The third quarter 2010 report can be found on www.newsweb.no and
www.aktivkapital.com
For further information, please contact:
Erik Oyno, CEO Scott Danielsen, CFO
Tel.: +47 22 91 59 55 Tel: +47 22 91 59 54
Mobile: +47 90 13 12 03 Mobile: +47 95 25 56 20
To the editorial offices
A conference call will be held at 11:00 CET on Thursday 28th of October 2010.
The presentation will be held by CEO Erik Øyno and CFO Scott Danielsen. The
following options are available:
Webcast
Go towww.aktivkapital.com and click on the link to "Webcast" in order to listen
to the conference call and view the presentation on the web. This alternative
does not allow you to participate in the live Q&A session subsequent to the
presentation.
Conference call
This service allows you to ask questions at the Q&A session at the end of the
presentation. To participate please register at least 10 minutes before the
presentation starts.
Call-in numbers:
Norway Toll +47 2415 9756
Norway Toll Free 800 19639
UK Toll International call +44 (0)20 7136 2051
UK Free phone 0800 032 4094
US Free phone 1888 239 0753
US Toll +1 212 444 0481
About Aktiv Kapital
Headquartered in Oslo, Norway. Aktiv Kapital has operations in eight 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 visitwww.aktivkapital.com
http://www.aktivkapital.com/
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1456323]
Q3 2010 Presentation :
http://hugin.info/275/R/1456323/396165.pdf
Q3 2010:
http://hugin.info/275/R/1456323/396164.pdf
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originality of the information contained therein.
Source: Aktiv Kapital via Thomson Reuters ONE
Datum: 28.10.2010 - 08:31 Uhr
Sprache: Deutsch
News-ID 46846
Anzahl Zeichen: 0
contact information:
Town:
Oslo
Kategorie:
Business News
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