Highlights during the fourth quarter of 2015
In October 2015, Axactor AB (the "Company") decided to become a European credit
management company and to discontinue the nickel operations. The nickel
operations were sold to the Swedish listed mineral company Archelon in December
2015, whilst at the same time the Company changed its name from Nickel Mountain
Group to Axactor.
Axactor focuses on building a dynamic and pan-European organization within the
credit management service industry and the ambition is to create a high-growth
debt collection/debt purchase company, levering on the experienced management
team, a solid investor base and the platform investment in Spanish legal
collection company ALD Abogados.
In November 2015, Axactor announced that Mr. Endre Ragnes was appointed CEO. In
addition, the Company has recruited experienced Group and Spanish management
teams with solid track record from the debt purchase and collection industry.
During the fourth quarter of 2015 Axactor has taken significant steps towards
becoming a full service debt collection/debt purchase company, including
acquisition of a leading legal collection platform in Spain (ALD Abogados) and
establishment a scalable amicable call center in Valladolid, Spain.
Key events after end of the report period
On January 20 2016, Axactor announced that their subsidiary, ALD Abogados, has
signed a contract with Santander Consumer Finance in Spain for the legal
collection area. Volumes will be transferred to Axactor, with a further ramp up
of number of claims during 2016, adding substantial new business.
On February 12 2016, Axactor announced closing of its first substantial Non
-Performing Loan portfolio in Spain with a face value of EUR 500 million.
Financials
Sales revenues for the quarter were SEK 4.4 million (SEK 0 million). The Spanish
subsidiary ALD Abogados was consolidated in early December 2015, hence its
revenues contributed to the group P&L only during a limited period. The nickel
operations were at pre-feasibility stage and generated no revenues - neither in
2015 nor in 2014.
The net result after tax for the 4th quarter amounted to SEK -54.3 million (SEK
-4.0 million) from remaining operations and SEK -22.4 million (SEK -30.2
million) from discontinued operations, in total SEK -76.7 million (SEK -34.2
million).
For and on behalf of the Board of Directors of Axactor AB (publ)
Endre Rangnes
Chief Executive Officer
For information, please contact
Endre Rangnes
Chief Executive Officer
Mail: endre.rangnes@axactor.com
Tel: + 46 8 402 28 00
Cell Phone: +47 48 22 11 11
Geir Johansen
Chief Financial Officer
Mail: geir.johansen@axactor.com
Cell Phone: +47 477 10 451
Cautionary Statement: Statements and assumptions made in this document with
respect to Axactor AB's ("Axactor") current plans, estimates, strategies and
beliefs, and other statements that are not historical facts, are forward-looking
statements about the future performance of Axactor. Forward-looking statements
include, but are not limited to, those using words such as "may", "might",
"seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans",
strategy", "forecast" and similar expressions. These statements reflect
management's expectations and assumptions in light of currently available
information. They are subject to a number of risks and uncertainties, including,
but not limited to, (i) changes in the economic, regulatory and political
environments in the countries where Axactor operates; (ii) changes relating to
the statistic information available in respect of the various debt collection
projects undertaken; (iii) Axactor's continued ability to secure enough
financing to carry on its operations as a going concern; (iv) the success of its
potential partners, ventures and alliances, if any; (v) currency exchange rate
fluctuations between the SEK and the currencies in other countries where Axactor
or its subsidiaries operate. In the light of the risks and uncertainties
involved in the debt collection business, the actual results could differ
materially from those presented and forecast in this document. Axactor assumes
no unconditional obligation to immediately update any such statements and/or
forecasts.