Norway's Axactor Q3 revenue falls, EBITDA declines

Overview

• Norway debt collector's Q3 gross and total revenue declined year-over-year

• Q3 EBITDA and cash EBITDA both fell from the prior year

• Company reduced interest expenses by 17% after refinancing its bond

Outlook

• Company expects further reduction in interest expenses in Q4 2026

• Axactor sees a historically large pipeline for NPL portfolios but notes high competition

• Company plans increased NPL investments while maintaining strong investment discipline

Result Drivers

• LOWER INTEREST EXPENSES - Co attributed reduced interest expenses to refinancing of ACR04 bond

• HIGHER NPL INVESTMENTS - Co increased investments in non-performing loan portfolios, citing scale effects and investment discipline

• CO-INVESTMENT PARTNERSHIP - Co said new partnership with Fortress contributed to portfolio acquisitions

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the corporate financial services peer group is "buy"

• Wall Street's median 12-month price target for Axactor ASA is NOK6.40, about 46.3% above its October 28 closing price of NOK4.38

Reuters Recommended Reads

• Oct 29 - Norway's DNO Q3 revenue beats on higher realized oil prices

• Oct 29 - Norway's Europris Q3 sales miss estimates as lower footfall and weak campaigns weigh

• Oct 29 - Norway's Elkem Q3 EBITDA falls 14%, misses analyst estimates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)