Axactor reports Q1 financials
Axactor’s operations and financials for the first quarter of 2020 were significantly affected by the coronavirus outbreak and the far-reaching measures that were implemented to control the spreading of the virus in March.“Our main priorities in this situation have been to protect our employees and to safeguard business continuity and make sure that we remain operational for our debtors, customers and partners,” says acting CEO Johnny Tsolis in Axactor.Gross revenue declined 13% to EUR 79.2 million compared to the same quarter last year, mainly due to a 53% reduction of REO revenues. The