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.
AFORTI Group was awarded a distinction by the Institute of European Business in the 10th edition of the “Effective Company” Competition 2017
AFORTI Group was awarded a distinction by the Institute of European Business in the 10th edition of the “Effective Company” Competition 2017. The European Company, a magazine for entrepreneurs, took the opportunity to publish an article about AFORTI Group.
Read AFORTI Group’s Newsletter for January 2018
AFORTI Group stepped into the new year with promising forecasts.
These are based upon the events which took place in the last months of 2017, namely, launching the factoring business and establishing Aforti Exchange Romania.
The dynamic development in the first months of 2018 will be certainly fostered by the expansion of sales network of Aforti Finanse and the commencement of sales-operational activity by Aforti Exchange Bulgaria.
The newsletter contains results reached by particular subsidiary companies in December, and additionally You will be able to read the news for the entire AFORTI Group.
Estimates for the operational performance of Aforti Group in 2017: the value of loans issued reached over PLN 36.22 million, the turnover at the foreign exchange platform hit around PLN 90.42 million and over 17 thousand debt collection cases worth PLN 23.3 million
The subsidiary companies of Aforti Holding S. A., the dominant entity of Capital Group listed on NewConnect market which renders services for MSE sector, presented their estimated operational and sales results for December 2017.
In the period, Aforti Finance issued loans worth PLN 3.3 million and the value of the applications filed reached PLN 25 million. In December, Aforti Collections dealt with debt recovery cases with the nominal value of PLN 126 thousand.
Aforti Exchange Sp. z o.o. had a turnover of EUR 13.45 million at the foreign exchange platform in Poland and EUR 1.41 million on the Romanian market, which is where Aforti Exchange Romania S.A. operates.
In 2017, on a cumulative basis, Aforti Finance S.A. issued 465 loans to small and medium-sized enterprises worth PLN 36.22 million in total. When compared to the preceding year, the value of the loan increased by over 867%, whereas the number of the loans issued grew by 347 %.
“The sector of loans for SMEs is continuously increasing, which may be observed, for instance, in the number of enquiries we receive from entrepreneurs searching for external financing. They need, above all, funds for the development and implementation of new projects which are supposed to boost the effectiveness and size of the business. To my mind, the sector will continue to grow as the banks set limitations for loans issued to SMEs and the lengthiness of the decision process, which results from, among other things, the necessity to acquire an excessive number of documents from the entrepreneur.”, says Klaudiusz Sytek, the President of the Management Board for Aforti Holding SA.
In 2017, there were 2317 applications filed for the total value of over PLN 191 million, which when compared to 2016 shows an increase by 302% and 709%, respectively. “We pursue safe risk assessment policy, we have implemented standards which are strictly observed when issuing loans. Time is of utmost importance for entrepreneurs and that is why we make sure they receive our decision as soon as possible. Additionally, we do our best to develop our offer on the basis of the feedback we receive from our Clients and the continuous monitoring of market trends”, Klaudiusz Sytek comments.
Aforti Exchange Sp. z o.o., operating an online foreign exchange platform for enterprises, may also boast of good results after the 12 months of 2017. In this period, the company recorded a turnover of over EUR 90.42 million on Polish market, which constitutes a 213% YOY increase. On the Romanian market, where Aforti Exchange Romania S.A. operates, the turnover at the platform reached over EUR 1.57 million. “It is more frequent now for Polish entrepreneurs to operate internationally and trade in the EU Member States as well as outside of the EU. Therefore, they need foreign currencies and search for attractive and safe foreign exchange options. Aforti created such a possibility and operates an online platform. First, we built the brand in Poland and now we entered Romanian market, where foreign exchange platform works very well. Soon, we will also operate on the Bulgarian market. Once Aforti builds a strong position in these two countries as it did in Poland, we will probably enter other foreign markets.”, says Klaudiusz Sytek, the President of the Management Board for Aforti Holding SA.
Aforti Collections S.A. is yet another Aforti Holding S.A. company, operating in the debt recovery sector and specialising in the management of liabilities. “Even though the end of the year was rather subdued, Aforti Collections, on a cumulative basis, recorded over PLN 23.3 million of the nominal value of the debt collection orders. Also the number of the debt collection cases increased significantly by over 87% YOY, whereas the number of agreements signed soared by 600%.”, says Klaudiusz Sytek and adds:
“We have initiated the re-development of our portfolio of receivables and we shifted the focus towards acquiring whole packages. The purchase offers we get undergo a more detailed verification so that we can choose those which may bring more profit and benefits not only to us, but also to our Clients. We prefer a smaller portfolio of receivables, but a one which brings profits from the commissions.”, explains the President of Aforti Holding S.A.
The President of the Management Board, Klaudiusz Sytek, summarizes the third quarter of 2017
The President of the Management Board of Aforti Holding S.A., Klaudiusz Sytek, was a guest of the Inwestorzy.tv program. In the interview, he summarized the quarterly and November results. He discussed quarterly meetings with investors and bondholders and the recent establishment of cooperation with the Viventor loan platform. He also stressed the effectiveness of the AFORTI Group’s strategy, paying attention to for intensifying sales activities in Romania and launching Aforti Exchange Bulgaria AD. We invite you to watch the interview.