Axactor reports Q2 and H1 financials
Oslo, July 23rd 2020: Axactor’s operations and financials for the second quarter and first half year 2020 were negatively affected by the Covid-19 outbreak, impacting all business areas. Reported EBITDA showed a loss of EUR 30 million, reflecting that the financial statement has been charged with a revaluation of the NPL portfolio of EUR 27 million and an impairment accrual for the REO assets of EUR 26 million. Cash EBITDA was EUR 44.4 million (65.4). - After a challenging start to the second quarter we have seen a strong uptick in performance from late May and expect this trend to