Aktiv Kapital with stable performance in a challenging market
(Thomson Reuters ONE) - (Oslo, October 28, 2009) Aktiv Kapital reported a pre-tax cash flowper share of NOK 6.18 in the third quarter 2009, an increase of 12percent compared to third quarter 2008. The NOK 1.75-1.85 billioncollection target for 2009 is maintained. The Group experiences asignificant increase in acquisition opportunities.Aktiv Kapital achieved operating revenues of NOK 289.2 million (NOK299.8 million) in the third quarter of 2009. EBITDA increased sixpercent to NOK 327.5 million as a consequence of implementing anextensive cost cutting program."We are pleased to announce an improved pre-tax cash flow per sharein a challenging collection environment. During 2009 Aktiv Kapitalhas reduced the cost base with more than NOK 100 million or 10percent without damaging our collection ability, and we are proud ofthe organisation's flexibility in this process" says Erik Oyno,President and CEO of Aktiv Kapital.During 2009 Aktiv Kapital has chosen to reduce debt rather thaninvest in new portfolios at unsustainable prices. As a consequence,the debt level has been reduced with more than NOK 1 billion sincethe peak in late 2008.Aktiv Kapital is experiencing a shift in the market and moreportfolios are now becoming available. The price gap between vendorsand buyers has been reduced during 2009, and Aktiv Kapital expectsthat the price gap will close within six to nine months and moreassets will be placed in the market."We expect a significant increase in acquisition opportunities goingforward as more portfolios are coming to market with realistic priceexpectations. Aktiv Kapital has a strong acquisition capacity, and weare well positioned and operationally equipped to take advantage ofthis situation" Erik Oyno continues.The third quarter 2009 report can be found on www.aktivkapital.comand www.newsweb.no.For further information, please contact:Erik Oyno, CEOTel.: +47 22 91 59 55Cell: +47 90 13 12 03Scott Danielsen, CFOTel.: +47 22 91 59 54Cell: +47 95 25 56 20For more information about Aktiv Kapital, please visit:www.aktivkapital.comhttp://hugin.info/275/R/1350674/326056.pdfhttp://hugin.info/275/R/1350674/326058.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.10.2009 - 08:30 Uhr
Sprache: Deutsch
News-ID 7515
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