The AFORTI Group – a financial holding providing loan, factoring and debt collection services for micro, small and medium enterprises and managing an online currency exchange platform for companies – it achieved cumulatively after three quarters of 2018 almost PLN 365.73 million of consolidated net sales revenues. This is over 200% more in comparison to the same period last year.
At the same time, after three quarters of 2017, the net profit of the AFORTI Group increased from PLN 1.12 million to PLN 1.24 million in the period January – September 2018. The Group’s EBIT amounted to PLN 8.7 million compared to PLN 5.18 million in first nine months of 2017, which gives the increase by 67.98%.
The good financial results of the Group are accompanied by the high valuation of Aforti Holding listed on NewConnect. In mid-November 2018, the capitalization of the company managed by Klaudiusz Sytek was estimated at PLN 52.89 million compared to PLN 42.44 million in mid-August 2018 and PLN 24.88 million at the end of December 2017. In less than 11 months, the Aforti Holding valuation increased by approx. 112.5%.
Moreover, in the third quarter of 2018, the companies of the AFORTI Group generated over PLN 121.98 million of net sales revenues compared to PLN 46.5 million reached in the period July – September 2017, giving the increase of 162.13%. Additionally, it is even slightly more than the revenues generated by the Group in three quarters of 2017, when the companies managed by Klaudiusz Sytek reached PLN 121.7 million. At the same time, the net profit of the AFORTI Group in the third quarter of 2018 amounted to PLN 231 thousand.
In the third quarter of 2018, the value of microloans sold by Aforti Finance increased by almost 27% – from PLN 9.83 million in the third quarter of 2017 to PLN 12.48 million. At that time, Aforti Exchange generated on the national online currency exchange platform for companies EUR 61.05 million of turnover compared to EUR 22.91 million in the third quarter of 2017, which gives the increase of 166.47%, and Aforti Exchange Romania noted almost EUR 14.65 million turnover compared to: EUR 12.5 million in the second quarter of 2018, and EUR 7.2 million in the first quarter of 2018. Further, the nominal value of collection orders obtained jointly by Aforti Collections and LifeBelt amounted to PLN 329.94 million cumulatively after three quarters of 2018, which gives the increase of 1,141.79% every year. At the same time, the value of receivables financed by Aforti Factor was estimated in the period from July to September 2018 to PLN 8.3 million as compared to PLN 5.8 million in the second quarter of 2018, and PLN 2.93 million in the first quarter of 2018.
The Group owes such good results to the growing popularity of loan services and factoring services offered to enterprises from the SME sector and the online currency exchange platform for companies – growing in the country and on foreign markets.
– We improve our revenues quarter by quarter. Profits – as a rule – also grow, unless in a given period we invest significant amounts in the development of the Group. Particularly cost-intensive, but equally prospective in the long-term perspective, is the foreign expansion of companies from the AFORTI Group, among which the already experienced Aforti Exchange currency platform leads in this respect, followed by Aforti Finance. Currently, we are operating not only in Poland, but also in Romania. We also think that Bulgarian entrepreneurs will soon be able to use our currency exchange platform. In turn, one of the most important business events of the third quarter of 2018 was the acquisition by Aforti Collections of majority shares in the debt collection company LifeBelt, specializing in, among others, mass debt collection carried out at the request of banks, loan companies, telecoms and other debt collectors. This is a significant move in the context of the growth of the Group’s shares on the debt collection market, which will by reflected by the financial results in the future. Moreover, in July 2018, we launched our own call centre, and individual companies have gained highly experienced managers, thanks to which we look very positively at the consecutive months of dynamic development of the AFORTI Group – summarizes Klaudiusz Sytek, President of the Management Board of Aforti Holding.
Paweł Opoka, Vice-President of the Management Board of Aforti Holding, adds – Very good financial results of the AFORTI Group cumulatively after three quarters of 2018 are the effect of many business initiatives as well as the activities at the investor level. We constantly strive to make our services more widely available and their quality significantly higher every month. The particular activities in this area bring tangible results even in the form of growing net revenues. Further, the prospects of the industries in which Aforti Finance, Aforti Exchange, Aforti Collections and Aforti Factor operate – assuming that the economic and macroeconomic situation in Poland remains stable – and the consistent implementation of our business strategy will enable a significant increase in the AFORTI Group’s market share and thus, they will influence the further increase in results in the following years.
Significant extension of the portfolio of products and services offered to micro, small and medium-sized enterprises by the AFORTI Group companies will be accompanied by the development of new business areas, based on, among others, expanding the product portfolio for corporate and investment banking in the field of leasing. For this purpose, AFORTI plans to establish a new company within the next 3 years, but it is also possible to acquire an existing entity.