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Grupa Aforti maintained its growth rate in 1H 2018
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 June 2018. Aforti Group maintained its upward trend.
Aforti Finance S.A. provided 35 loans totalling PLN 3.47 million, which constitutes an increase by 1.40% vs. the analogous period in 2017.
The turnover on the currency exchange platform generated in Poland and Romania by companies from the Aforti Exchange Group amounted to EUR 25.6 million and was by 354.73% higher y/y.
In June 2018, the nominal value of debt collection orders of Aforti Collections S.A. slightly slightly exceeded PLN 1.04 million and decreased by 21.15% year over year.
The youngest of the companies, Aforti Factor SA, operating in the factoring sector, financed last month the receivables exceeding PLN 2.47 million.
From the beginning of the year until June, Aforti Finance S.A. provided entrepreneurs with 308 loans (more by 45.28% y/y) totalling PLN 32.67 million, which is an increase by 136.62% y/y. At the same time, 1,970 entrepreneurs (an increase by 100.61%) applied for a loan, submitting their applications for the total amount of over PLN 244 million (an increase by 280.73%).
“One month after another, the financial results recorded by lending businesses are getting better and better. We regularly improve our decision-making processes concerning the provision of a loan or specific stages of Customer service. Moreover, we intensify marketing campaigns, which have already brought about tangible results. We are glad that we one month after another we help more and more entrepreneurs expand their businesses”, says Klaudiusz Sytek, the President of the Management Board of Aforti Holding S.A.
In June 2018, Aforti Collections S.A. continued to search for and obtain new contracts as well as reconstruct its structures.
“In the last months, we were mainly focused on the extension of a new structure of our business. We have made staff changes and proceed with marketing action. In the future we plan to further remodel our commercial department. Thanks to our efforts, we’ve already observed the first results in the form of a 43.75% increase in the number of new contracts. We expect this tendency to continue in the months to come”, says Klaudiusz Sytek
Aforti Factor S.A., which conducts operating activities from the beginning of this year, financed debts totalling PLN 8.76 million during the first six months of the year. At the same time, the company established cooperation with ViVentor – a Latvian peer-to-peer platform.
“The results obtained by Aforti Factor are buoyant and show that we are able to do a lot in a short period of time. A large success was achieved in June when we established and began cooperation with ViVentor. The first weeks of cooperation and a general interest in debt acquisition are very positive, which allows us to think about further cooperation”, summarises President of the Management Board of Aforti Holding S.A.
June 2018 was a successful month for Aforti Exchange S.A., which runs an online currency exchange platform. Entrepreneurs using the platform concluded currency exchange transactions totalling almost EUR 112.12 million between the beginning of January and the end of May 2018, which is an increase by 239.25% in relation to 2017.
Meanwhile, Aforti Exchange Romania S.A. reported an equally impressive turnover of EUR 19.71 million in the same period (almost EUR 4 million more than in the previous month).
“In June this year, Aforti Exchange set other records. The increase in the platform’s revenue is impressive. We’re trying to keep this trend through our marketing campaigns. We are also more and more present in the most trade conferences. Recently we were invited to Fintech World Forum which was held in London. Our presentation aroused a considerable interest of the investors and entrepreneurs taking part in the conference. In June, we also took part in a discussion panel on Fintechs during the FinTech Fair in Wrocław”, says Klaudiusz Sytek, the President of the Management Board of Aforti Holding S.
Good results of the AFORTI Group after the first month of 2018.
Subsidiaries of Aforti Holding S.A., a parent entity of the Group, quoted on the NewConnect market, providing financial services for the SME sector, presented estimated operational-sales results for January 2018.
During this period the value loans for small and medium enterprises granted by Aforti Finance S.A. amounted to ca. PLN 4.48 million, which means a YOY increase by 262.40 percent. A solid result was also achieved by Aforti Exchange on the currency exchange platform. The value of turnover in Poland in January reached PLN 12.29 million (increase by 98.45%).
For other two pillars of the Aforti Group: a company from the debt collection sector – Aforti Collections S.A. – and a company offering factoring services – Aforti Factor S.A., January 2018 was the first month of the first full financial year of their operations.
In January Aforti Finance S.A. granted 56 loans to entrepreneurs, who submitted 277 applications.
“We record a constant and stable increase in the number of submitted loan applications in the sector of entrepreneurs. In January 2018 the number of these applications was more than 158% higher. Demand of entrepreneurs for financial measures also significantly increased, since the value of applications increased in the last month by more than 511% as compared with the previous year. These numbers show that Aforti Finance and institutions similar to us are needed. Entrepreneurs who develop very dynamically, yet still do not meet all criteria of the bank, or operate in blacklisted industries like construction or transport, are often seeking our support. These companies are paying their liabilities without any problems” – says Klaudiusz Sytek, President of the Board of AFORTI Holding S.A.
A significant value of debt collection orders was recorded by Aforti Collections S.A., a company dealing with debt collection and management of liabilities.
“The nominal value of orders of Aforti Collections in January this year amounted to more than PLN 1.3 million, which is a lower result as compared to the previous year, due to remodelling of the structure of our portfolio of orders. At the moment, we focus on orders which have the actual degree of recoverability. However, it is worth noting that in the last period we signed a similar number of agreements as the year before” – says Klaudiusz Sytek
Another company of the Aforti Group, taking its first steps in the factoring sector in January this year, financed in January 2018 liabilities worth nearly PLN 536 thousand. According to the market data, in 2017 factoring services were used by 13.2% more entrepreneurs than the year before.
“In my opinion, factoring is a tool which Polish entrepreneurs are more and more often looking for, though they often do not cannot name this service. Payment backlogs are a serious problem in our economy, often leading a perspective business to the loss of financial liquidity. For this reason, this market will be increasing at a stable pace” – comments President of the Board of AFORTI Holding S.A.
Beginning of the year was successful also for Aforti Exchange S.A., which runs the online currency exchange platform for entrepreneurs. Polish entrepreneurs concluded currency exchange transactions worth nearly EUR 12.3 million, while on the second market of the company in Romania this value amounted to more than EUR 892,000.
“According to forecasts of currency analysts, EUR and USD should soon start to rise. The appreciating trend should be fostered by an increase in interest rates in the USA, as well as economic slowdown in China. In this situation Polish entrepreneurs will constantly seek platforms ensuring exchange of currency at a favourable exchange rate. Aforti Exchange will surely be one of companies offering such a possibility” – summarises Klaudiusz Sytek, President of the Board of AFORTI Holding S.A.