AIK: 1st quarter 2011 results
(Thomson Reuters ONE) -
AIK Q1 2011: Operational improvement and new investment opportunities
(Oslo, 10 May 2011) Aktiv Kapital reports an operating profit of NOK 102.9
million in Q1 2011, up from NOK 99.8 million in the same period 2010. The
improved operating profit is attributable to the operational improvements
executed in 2010 and better economic conditions in some countries.
Paid in on portfolios amounted to NOK 368.9 million in Q1, compared with 371.9
in the same period 2010. The reduction is less than expected and is due to the
operational improvements implemented in 2010 and better macroeconomic
environment in some markets. Operating revenue in the period was NOK 245 million
(235.7 million). The figures reported relate to continued operations.
"Payments from portfolios are stable and the operating profit is improved. After
the sale of the Nordic third party debt collection in December 2010, Aktiv
Kapital will solely focus on portfolio investments and collection on own
portfolios. We have improved our operations and are now well positioned to grow
and expand the business", says acting CEO Scott Danielsen in Aktiv Kapital.
The operating profit before depreciation and amortisation (EBITDA) was NOK
234.8 million (NOK 239.0 million) for the quarter, while the pre-tax cash flow
per share was NOK 4.73 (NOK 4.48).
"The portfolio collection platform has been split from the portfolio owning
organisation in order to achieve greater focus on value creation at time of
investment and operational excellence in collections. This new structure has
also facilitated the refinancing of the legacy portfolios and allows for new
strategic opportunities. We believe that the European debt sales market is
developing positively. We see an increase in the size and volume of portfolios
coming to the market, and Aktiv Kapital's strategy is to establish strategic
relationships with partners and selectively expand and test new product
segments", continued Danielsen.
+-----------------------------------+---------------+-------------------+
| | Q1 | Year |
| | | |
| (NOK millions) | 2011 2010 | 2010 2009 |
+-----------------------------------+---------------+-------------------+
| Paid in on portfolios | 368.9 371.9 | 1 512.4 1 792.8 |
| | | |
| Operating revenue | 245.0 235.7 | 946.4 975.3 |
| | | |
| EBITDA | 234.8 239.0 | 996.1 1 220.0 |
| | | |
| Operating profit (EBIT) | 102.9 99.8 | 395.9 347.3 |
+-----------------------------------+---------------+-------------------+
| Pre-tax cash flow per share (NOK) | 4.73 4.48 | 19.05 22.54 |
+-----------------------------------+---------------+-------------------+
The report for Q1 2011 is available at www.newsweb.no and www.aktivkapital.com
For more information, please contact:
Scott Danielsen, acting CEO
Tel.: +47 22 91 59 54
Mobile: +47 95 25 56 20
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 1512 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.
Q1 2011 Presentation:
http://hugin.info/275/R/1514256/450240.pdf
Q1 2011:
http://hugin.info/275/R/1514256/450238.pdf
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Source: Aktiv Kapital via Thomson Reuters ONE
[HUG#1514256]
Datum: 10.05.2011 - 16:45 Uhr
Sprache: Deutsch
News-ID 54475
Anzahl Zeichen: 4961
contact information:
Town:
Oslo
Kategorie:
Business News
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