Axactor SE: Third quarter 2021 financial results
Axactor SE (Axactor, OSE: ACR) delivered total income in this year’s third quarter of EUR 46.7 million, down 25% from the same period last year (62.3) as debtors prioritized private consumption, including summer holiday expenses, over repayment of debt when European societies re-opened post Covid-19. As a result, EBITDA ended at EUR 10.4 million, down from EUR 30.3 million in the third quarter 2020, equivalent to an EBITDA margin of 22% (49%).“It has been both surprising and worrying to witness how quickly people discarded the financial cautiousness they demonstrated throughout the pandemic.