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CR ESPI 21/2020 – Revision of the current report number 5/2020
The Management Board of Aforti Holding S.A. with its registered office in Warsaw (hereinafter referred to as “the Issuer”) hereby provides an adjustment to ESPI report no. 5/2020 – Estimated operating and sales data of Aforti Group – March 2020.
The correction of the report is related to the identification of a clerical error concerning the report number.
The report was published under number 5/2020, while the correct number is 12/2020.
The content of the current report remained unchanged.
Legal basis: 56 section 1 item 2 of the Act on Public Offering – current and periodic information
CR ESPI 21/2021 – Execution of a Term Sheet Agreement for the acquisition of a factoring entity
The Management Board of Aforti Holding S.A., with its registered office in Warsaw, hereinafter referred to as the “Company” or the “Issuer”, in reference to ESPI Current Report No. 17/2021 dated 3 March 2021, informs that today, i.e. 24 March 2021, the preliminary non-binding offer for the purchase of a factoring company operating on the Croatian market (hereinafter referred to as the “Factor”) was accepted and the Parties entered into a Term Sheet Agreement on, inter alia, the following terms and conditions:
– the parties will work together to obtain the approval of the Croatian regulator to conclude the transaction,
– the Selling Party and the Factor shall act in the best interest of the Company and shall not materially change its business,
– all credits and loans of Faktor shall be repaid by the time of conclusion of the share purchase agreement
The Issuer has indicated the book value of Factor’s equity plus a negotiated EBITDA multiplier as the settlement price for the acquisition of up to 100% of the shares.
The signing of the Term Sheet Agreement by both parties to the transaction constitutes the beginning of the process of negotiating the final Share Purchase Agreement (SPA). The preliminary date for concluding the completion of the transaction is scheduled for 30 August 2021.
The acquisition of the entity from the Croatian market is aimed at joint achievement of the effect of synergy and obtaining the best possible economic results from the conducted investment project.
Legal basis: Article 17 paragraph 1 of the MAR – confidential information
CR ESPI 21/2022 The estimated operating and sales data for the AFORTI Capital Group – July 2022
The Management Board of AFORTI Holding S.A. based in Warsaw (hereinafter: “Company”, “Issuer”) hereby publishes the estimated operating and sales figures of the AFORTI Capital Group for July 2022.
1) Currency exchange on online platforms
The trading value on the currency exchange platform in July 2022 amounted to approximately PLN 489.94 million and was 21.22 % higher compared to the same period of the previous year.
On a cumulative basis, after seven months of 2022, the total value of trading on the foreign exchange platform reached approximately PLN 2 901.78 million, representing a year-on-year increase of 17.80 %.
2) Recovery orders
The nominal value of recovery orders in July 2022 amounted to approximately PLN 211.72 million and was 488.31 % higher year-on-year.
On a cumulative basis, after seven months of 2022, the nominal value of collection orders reached approximately PLN 608.95 million, registering a year-on-year increase of 38.17 %.
3) Debt claims financed
In July 2022, the value of financed receivables by AFORTI Factor amounted to approximately PLN 0.19 million and was down 65.50% year-on-year.
On a cumulative basis, after seven months of the current year AFORTI Factor financed a total of approx. PLN 2.49 million of receivables, recording a reduction of 66.85 % year-on-year.
4) Total sales
In July 2022, total sales in the AFORTI Group amounted to approximately EUR 167.33 million, up 72.35 % year-on-year.
On a cumulative basis, after seven months of 2022, the total value of sales in the AFORTI Group reached approximately EUR 837,60 million, an increase of 29.75 % year-on-year.
5) Total number of customers
In July 2022, the total number of customers in the AFORTI Group was 7.033 and was 10.18 % higher than in the same period of the previous year.
A table containing the reported estimates for July 2022 together with comparative data is attached to this current report.
CR ESPI 22/2020 – Change in the business profile of subsidiaries operating in Romania
The Management Board of Aforti Holding S.A. with its registered office in Warsaw (hereinafter referred to as “Issuer”) hereby informs that today the shareholders (entities from Aforti Group) of subsidiaries operating in Romania have decided to change their business profiles.
The shareholders of Aforti Finance Romania IFN S.A. have adopted a resolution to change their name from the current one to Aforti Factor Romania IFN S.A.
The shareholders also made a decision on obliging the Management Board of the company to change its business profile, enabling it to provide factoring services for entrepreneurs, and a decision on temporary suspension of lending activity.
The change in the scope of business activity was caused by new legal regulations recently introduced in Romania concerning the so-called “credit holidays” and due to limitations in the ability to accurately assess credit risk related to the corona virus pandemic.
As a result of these changes, Aforti Factor Romania IFN S.A. will provide factoring services for the SME sector and will have a better matched balance sheet structure for the period of the expected economic slowdown, i.e. short-term assets and long-term liabilities. The adopted resolutions do not require any significant financial investments on the part of Aforti Factor Romania IFN S.A.
The shareholders of Aforti Exchange Romania S.A. have adopted a resolution on changing the name from the current one to Aforti Distribution Romania S.A.
The shareholders of Aforti Exchange Romania S.A. have decided to oblige the Management Board of the Company to change its business profile, enabling the provision of financial intermediation services on the territory of Romania with particular emphasis on the products of the Aforti Group. The change in the scope of business activities was caused by the 2nd Payment Services Directive (PSD2) introduced in Romania, which imposed an obligation on Aforti Exchange Romania to obtain a licence of a payment institution. The company’s management decided to focus on implementation of the new business profile and to temporarily suspend foreign exchange operations until such time as the said license is obtained. The adopted resolutions do not require any significant financial investment on the part of Aforti Distribution Romania S.A. and will allow the company to use the potential of having agreements and relationships with a group of over one thousand companies from the SME sector.
Legal basis: Article 17 paragraph 1 of the MAR – confidential information
CR ESPI 22/2021 – The estimated operating and sales data for the AFORTI Capital Group – March 2021.
The Management Board of AFORTI Holding S.A. with its registered office in Warsaw (hereinafter: “Company”, “Issuer”) hereby provides to the public the estimated operating and sales figures of the AFORTI Capital Group for March 2021.
1) Currency exchange on online platforms
The value of trading on currency exchange platforms in March 2021 amounted to approximately PLN 439,315 thousand and was 364.13% higher compared to the same period of the previous year.
On a cumulative basis, after three months of 2021, the total value of turnover on the foreign exchange platform reached approximately PLN 954,957 thousand, an increase of 208.90% year-on-year.
2) Recovery orders
The nominal value of recovery orders in March 2021 was approximately PLN 102,331 thousand. This represents an increase of 43.85 % compared to the same period of the previous year.
Cumulatively, after three months of 2021, the nominal value of collection orders reached approximately PLN 224,936 thousand, an increase of 85.67 % year-on-year.
3) Debt claims financed
In March 2021, the value of financed receivables by AFORTI Factor amounted to approximately PLN 1,482 thousand and was 63.39 % lower than in the same period of the previous year.
In cumulative terms, after three months of the current year AFORTI Factor financed a total of approx. PLN 3 177 thousand of receivables, down 61.83 % year on year.
4) Total sales
In March 2021, total sales in the AFORTI Group amounted to approximately EUR 119.02 million, an increase of 213.02 % year-on-year.
On a cumulative basis, after three months of 2021, total sales in the AFORTI Group reached approximately EUR 259.30 million, an increase of 161.28 % year-on-year.
5) Total number of customers
In March 2021, the total number of customers in the AFORTI Capital Group was 6082.
A table containing the reported estimates for March 2021 together with comparative data is attached to this current report.
Legal basis: Article 17 paragraph 1 of the MAR – confidential information