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    AXA   NO0010840515

AXACTOR SE

(AXA)
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Axactor : Update on process with FSA

09/02/2021 | 09:06am EDT
As stated in the stock exchange notice dated 25 March 2021, and in the
prospectus dated 19 April 2021, the Norwegian Financial Supervisory Authority
(FSA) has reviewed certain accounting practices and their implications for
Axactor SE's (the Company) Annual Report 2019 and Half-Year Report 2020. The
review was conducted under the Securities Trading Act §19-1, second paragraph.
 
A notice regarding the preliminary conclusion from FSA received on 31 August
2021, states that FSA require the Company to expand its valuation models for
expected future credit losses on portfolios of non-performing loans (NPL) with
more input variables and scenario analysis capturing current and future
macroeconomic conditions. 

The Company does not expect significant revaluations of its current NPL book
value, neither negative nor positive, following such expansion of its valuation
models.
 
The notice also includes the preliminary conclusion that the Company will be
required to conduct a new valuation of expected future credit losses for one
specific NPL portfolio as of 2019 and onwards. The book value of the portfolio
in question was reduced through the Company's ordinary quarterly revaluation
process in 2020 and is performing above its active forecast in 2021.
 
The Company will continue the dialogue with FSA until a final conclusion is
received.

For additional information, please contact:
Kyrre Svae, Chief of Strategy & IR
Mobile phone: +47 478 39 405
Email: kyrre.svae@axactor.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2021 256 M 298 M 298 M
Net income 2021 21,0 M 24,5 M 24,5 M
Net Debt 2021 792 M 922 M 922 M
P/E ratio 2021 12,7x
Yield 2021 -
Capitalization 282 M 328 M 328 M
EV / Sales 2021 4,19x
EV / Sales 2022 3,97x
Nbr of Employees 1 062
Free-Float 44,7%
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Technical analysis trends AXACTOR SE
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 3
Last Close Price 0,93 €
Average target price 1,45 €
Spread / Average Target 55,6%
EPS Revisions
Managers and Directors
Johnny Tsolis Chief Executive Officer
Nina Mortensen Chief Financial Officer
Merete Haugli Chairman
Arnt Andre Dullum Chief Operating Officer
Vibeke Ly Chief-Staff, Group Head-Legal & Compliance
Sector and Competitors