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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.
Aforti Holding continues increases in November. 33 million PLN of loans granted and EUR 77 million of turnover on the currency exchange platform from the beginning of the year.
The Aforti Holding Group, which provides financial services for the SME sector, presented operational-sales results for November 2017. The value of loans granted by Aforti Finance amounted to nearly PLN 5 million, and submitted applications are worth PLN 20.1 million. In November turnover of Aforti Exchange on the currency exchange platform amounted to EUR 8.5 million. The nominal value of debt collection orders recorded by Aforti Collections amounted to PLN 2.2 million.
Aforti Finance, which offers microloans for the SME sector, in November granted loans worth PLN 4.9 million PLN as compared to PLN 245.4 thousand in the same period of the last year. Last month, the company accepted 241 loan applications for the total amount of PLN 20.1 million – last November the company received 37 applications worth PLN 1.8 million.
The stable development in this business area results in a dynamic increase in quantities and values of submitted loan applications. From the beginning of the year the value of granted loans amounted to nearly PLN 33 million, and the value of submitted applications reached PLN 164.2 million
“Aforti Finance continued its dynamic growth. in November We consistently pursue our sales policy under which we focus mainly on corporate clients. The range of products designed for business is constantly extended, thanks to which a group of our potential customers increases. Our sales results are the best reflection of how effective our sales policy is” – says Klaudiusz Sytek, the President of Aforti Holding S.A.
Aforti Exchange, which provides currency exchange services via the online platform in November reached turnover worth EUR 8.5 million, which is a significant increase as compared to EUR 3.1 million in the same month of the last year. In eleven months of 2017 the cumulative turnover amounted to over EUR 77.0 million.
“In November we continued an intensive development of operations on the Romanian market. We were consistently implementing sales activities in Poland as well, thanks to which we managed to achieve more than 175% increase in the value of turnover on our platform as compared with November 2016” – says Klaudiusz Sytek.
Aforti Collections providing debt collection services recorded the nominal value of orders of PLN 2.2 million as compared to PLN 7.3 million in the same period of the last year. Number of received debt collection orders amounted to 351. From the beginning of the year the value of orders reached PLN 23.2 million.
“November was very intensive for Aforti Collections. We also purchased another portfolio of corporate liabilities and started to participate in tenders for purchase of subsequent portfolios. Of course, we regularly select offerings in which we participate, because we want our portfolios to be of the highest quality. Our goal is to obtain the possibly maximum recovery rate. We consistently implementing a plan of repayments from the purchased portfolio of liabilities. Considering that the scale of operations of Aforti Collections is constantly growing, we decided to begin expansion of the operations centre in Wrocław” – Klaudiusz Sytek.
Aforti Holding financial group published in November results for the third quarter of 2017. The group reported more than PLN 46.5 million of consolidated revenue. This is a result almost three times higher as compared to the same period of the last year. The consolidated net profit of the Group amounted to PLN 323.2 thousand and was by 68% higher than in the same months of 2016.