Aktiv Kapital reports first quarter 2010 portfolio collection of NOK 371.9 million, compared with NOK 491.2 million in the first quarter 2009. As a consequence of few portfolio acquisitions, this decrease is in line with expectations. Operating profit was NOK 104.3 million for the quarter, compared with NOK 123.1 million the same period last year. Moving forward, Aktiv Kapital will continue to focus on operational improvements and seek attractive portfolio acquisition opportunities.
"Recently, Aktiv Kapital has not acquired any significant portfolios. This is the main reason for the decrease in operating revenues and net income. Currently we are working with portfolio acquisition opportunities and taking actions to further improve operational performance as well as our scalability. Today we are capable of significantly increasing collections without a similar growth in costs” says Erik Oyno, President and CEO of Aktiv Kapital.
Aktiv Kapital achieved operating revenues of NOK 282.5 million (NOK 348.6 million) in the first quarter of 2010.The revenue decrease is mainly within the portfolio segment. Operating revenues from the third party debt collection segment was NOK 52.2 million (NOK 57.1 million).
Operating profit before depreciation and amortisation (EBITDA) was NOK 244.8 million (NOK 329.6 million) in the first quarter.