AIK: 4th quarter 2010 results
(Thomson Reuters ONE) -
AIK Q4 2010: Operating result doubled - NOK 20 dividend proposed
(Oslo, 23 February 2011) Aktiv Kapital continues to show an improvement in
results and reports an operating profit of NOK 103.1 million in Q4 2010, up from
NOK 47.3 million in the same period 2009. The Board proposes a dividend of NOK
20 per share, which represents a direct return of 40 per cent based on the
closing rate on 22 February.
"Operational improvements continued in the fourth quarter with high income from
the portfolios. We have good control of costs following the implementation of a
series of efficiency measures in recent years. We also have improved the
company's capital structure. As a result, Aktiv Kapital will be able to pay NOK
1.2 billion to its shareholders in the form of dividends and the repurchase of
shares over a six-month period. Following the sale of the Nordic third party
debt collection business, Aktiv Kapital is well-positioned to exploit the
business opportunities we see coming within the acquisition of non-performing
credit portfolios in 2011," says Erik Øyno, CEO in Aktiv Kapital.
Paid in on portfolios amounted to NOK 391.0 million in Q4, compared with NOK
402.8 million in the same period 2009. The reduction is mainly due to fewer
portfolio acquisitions. Operating revenue in the period was NOK 243.5 million
(NOK 195.6 million). In Q4, Aktiv Kapital sold its Nordic third party debt
collection business with a net gain of NOK 369.2 million. The figures reported
relate to continuing operations.
The operating profit before depreciation and amortisation (EBITDA) was NOK
261.4 million (NOK 267.3 million) for the quarter, while the pre-tax cash flow
per share was NOK 5.24 (NOK 4.94)
+-----------------------------------+---------------+-------------------+
| | Q4 | Year |
| | | |
| (NOK millions) | 2010 2009 | 2010 2009 |
+-----------------------------------+---------------+-------------------+
| Paid in on portfolios | 391.0 402.8 | 1 512.4 1 792.8 |
| | | |
| Operating revenue | 243.5 195.6 | 946.4 975.3 |
| | | |
| EBITDA | 261.4 267.3 | 996.1 1 220.0 |
| | | |
| Operating profit (EBIT) | 103.1 47.3 | 395.9 347.3 |
+-----------------------------------+---------------+-------------------+
| Pre-tax cash flow per share (NOK) | 5.24 4.94 | 19.05 22.54 |
+-----------------------------------+---------------+-------------------+
The report for Q4 2010 is available at www.newsweb.no and www.aktivkapital.com
For more information, please contact:
Erik Øyno, CEO or 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
Presentation
In connection with a presentation of the results, a press and analysts'
conference will be held at Hotel Continental, Stortingsgaten 24/26, on Wednesday
23 February at 09:00. Breakfast will be served from 08:30.
The presentation, in English, will be conducted by CEO Erik Øyno and CFO Scott
Danielsen. The presentation can be followed via the Internet or telephone as
follows:
Internet
Go towww.aktivkapital.com (investor relations) and click on "Webcast"
Telephone
Via the following numbers:
UK: +44 (0) 20 7136 6283
UK freephone: 0800 028 1243
US: +1 718 354 1385
US freephone: 1888 935 4575
Norway: +47 23 16 21 89
Norway freephone: 800 19640
Participants will be requested to state their name, company and conference ID.
Aktiv Kapital's conference ID is: 2100417
Please dial in 10 minutes before the presentation starts.
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 an operating revenue
of NOK 946 million 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
Disclosure of this information is pursuant to Section 5-12 of the Norwegian
Securities Trading Act.
Q4 2010 Presentation:
http://hugin.info/275/R/1491527/427197.pdf
Q4 2010:
http://hugin.info/275/R/1491527/427196.pdf
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aktiv Kapital via Thomson Reuters ONE
[HUG#1491527]
Datum: 23.02.2011 - 08:31 Uhr
Sprache: Deutsch
News-ID 51819
Anzahl Zeichen: 5916
contact information:
Town:
Oslo
Kategorie:
Business News
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