Subsidiaries of Aforti Holding S.A., the parent undertaking of the Capital Group providing financial services for the SME sector and listed on NewConnect market, presented their estimated operational and sales results for May 2018. New records were made.
Aforti Finance S.A. provided 53 loans (an increase by 23.26% y/y) totalling PLN 6.68 million, which constitutes an increase by 93.07% vs. the analogous period in 2017.
In May alone, the turnover on the currency exchange platform generated by Aforti Exchange S.A. totalled EUR 25.63 million and was 272.84% higher y/y. In case of Aforti Exchange Romania, the turnover was EUR 5.57 million.
In May 2018, the nominal value of debt collection orders of Aforti Collections S.A. slightly exceeded PLN 816,000 and decreased by 53.44% year over year.
The youngest of the companies, Aforti Factor SA, operating in the factoring sector, financed last month the receivables exceeding PLN 1.79 million.
From the beginning of the year until May,Aforti Finance S.A.provided entrepreneurs with 273 loans (more by 60.59% y/y) totalling PLN 29.20 million, which is an increase by 181.23% y/y. At the same time, 1,570 entrepreneurs (+98.23%) applied for a loan, submitting their applications for the total amount of PLN 195.27 million (an increase by 300.43%).
“Thanks to an attractive offer, Aforti Finance is one of the top five lending companies in Poland according to the most popular rankings. Our main asset is the speed of verification of applications and decision-making process. Moreover, the upper threshold of our loans is one of the highest in the industry. At the same time, we care for the security and profitability of our businesses, which is why we provide advice to our Customers when we determine after an initial analysis that the liability requested by them may give rise them losing their financial liquidity. In addition to being a lending company, we also want to be a business partner“, says Klaudiusz Sytek, the President of the Management Board of Aforti Holding S.A.
May 2018 was labour-intensive for Aforti Collections S.A. because of commencement of numerous tenders for the purchase of liabilities organised by banks and other financial institutions.
“We’re actively looking for new contracts through participation in tenders for the acquisition of liabilities. However, due to the modification of our business model, we must resign from some tenders already after an initial analysis of the documentation. This happens because the recoverability ratio may be too low”, says Klaudiusz Sytek
Aforti Factor S.A., which conducts operating activities from the beginning of this year, financed debts totalling PLN 6.28 million during the first five months of the year.
“Business factoring is a simple and above all useful service, but many Customers still find it problematic to understand its mechanisms. As a result, we’re conducting intensive educational activities in order to help our Customers imagine and understand the benefits they will obtain through factoring. This is also one of the reasons we are able to increase the position of Aforti Factor as an industry expert”, explains the President of the Management Board of Aforti Holding S.A
Aforti Exchange S.A., which deals with online currency exchange platform, was one of the top companies in terms of turnover volume. Entrepreneurs using the platform concluded currency exchange transactions totalling almost EUR 90.48 million between the beginning of January and the end of May 2018, which is an increase by 230.11% in relation to 2017.
Meanwhile, Aforti Exchange Romania S.A. reported a turnover of EUR 15.72 million in the same period.
“Until the end of May this year, the volume of turnover generated by Aforti Exchange in Poland was as high as in the entire year 2017. This is yet another threshold, another record, which pleases us and motivates to work harder. So we do not rest on our laurels and plan to expand further. We have efficient salesmen at our disposal who know how to respond to the needs of our Customers. And these Customers recommend to each other our currency exchange platform”, says Klaudiusz Sytek, President of the Management Board of Aforti Holding S.A.