Cuneo, 08 August 2019 - Axactor Italy, part of the Axactor SE International Group, a leading player in the Italian Credit Management market with over twenty years of experience in the sector, announces to have closed the First Semester of 2019 with revenues for approximately Euro 11.3 million, with a growth of more than 90% compared to the same period of 2018.
Among the significant events of the period there is the acquisition by Axactor SE of the remaining 10% owned by Banca Sistema, so now Axactor Italy is 100% owned by the Group. The period has been characterized by the execution of the necessary actions to make the management of the portfolios acquired in 2018 operative and by the decision to enter in two high potential markets, the Utility and the UTP markets, thanks to two important agreements. The first one refers to a tender for the management of the credits in third party collection for an Italian well-known operator of the Utility sector and was signed in May. The second one was closed thanks to a strategic partnership aiming at creating complete solutions in the secured and unsecured credits management for the main Financial Institutes of the Italian market.
Antonio Cataneo, Ceo of Axactor Italy commented: "We are satisfied of the results achieved it the first semester which confirm the good investments made in the last months. We are working hard in a market that offers great opportunities to specialized and competent players like Axactor. In particular, we have continued to improve our skills and the services we offer thanks to strategic partnerships, to hire new talents and to make our management team stronger to start the second half of 2019 and 2020 with growth targets even more ambitious and with the desire of creating new solutions to be offered on the market".
Positive was also the results of Parent Company Axactor SE, which closed the first half of 2019 at Euro 182 million with a growth of 69% compared to the same period of the previous year, EBITDA at Euro 48 million and EBITDA - margin grew at 33%
About axactor Italy - www.axactor.it
Axactor Italy is an authorized financial intermediary registerred in the Register pursuant to art. 106 of Legislative Decree 385/93 n. 31482. It is based in Cuneo and operates in Italy since 2016, after the acquistion of CS UNION S.p.A. Axactor Italy also holds a license pursuant to art. I 15 TULPS and is associated to UNIREC. Axactor Italy offers NPL purchasing and managment services, third-party credit collection, sale of non-recourse receivables that are difficult to collect and customer care and reconciliation of invoicesand payments (ARM).
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About Axactor group - www.axactor.com
The Axactor Group is specialized both in debt collection on behalf of third parties and in the purchase of NPL portfolios , with operating platforms in Finland, Italy, Germany, Norway, Sweden and Spain, is based in Oslo and is listed on the Norwegian Stock Exchange. The Scandinavian company has an ambitious pan-European growth strategy, targeting the non-performing loans (NPL) market, which has an estimated value of around 1.000 billion Euros across Europe, able to offer significant opportunities for the future expansion of Axactor. Axactor has around 1100 employees in the countries in which it operates.