Aktiv Kapital Reports Higher Profit in Q4

Oslo, Norway — Aktiv Kapital continues to show an improvement in results and reports an operating profit of NOK 103.1 million ($18.4 million) in Q4 2010, up from NOK 47.3 million in the same period 2009. The Board proposes a dividend of NOK 20 per share, which represents a direct return of 40 per cent based on the closing rate on 22 February.

“Operational improvements continued in the fourth quarter with high income from the portfolios. We have good control of costs following the implementation of a series of efficiency measures in recent years. We also have improved the company’s capital structure. As a result, Aktiv Kapital will be able to pay NOK 1.2 billion to its shareholders in the form of dividends and the repurchase of shares over a six-month period. Following the sale of the Nordic third party debt collection business, Aktiv Kapital is well-positioned to exploit the business opportunities we see coming within the acquisition of non-performing credit portfolios in 2011,” says Erik Øyno, CEO in Aktiv Kapital.

Paid in on portfolios amounted to NOK 391.0 million in Q4, compared with NOK 402.8 million in the same period 2009. The reduction is mainly due to fewer portfolio acquisitions. Operating revenue in the period was NOK 243.5 million (NOK 195.6 million). In Q4, Aktiv Kapital sold its Nordic third party debt collection business with a net gain of NOK 369.2 million ($66 million). The figures reported relate to continuing operations.

The operating profit before depreciation and amortisation (EBITDA) was NOK 261.4 million (NOK 267.3 million) for the quarter, while the pre-tax cash flow per share was NOK 5.24 (NOK 4.94)

The report for Q4 2010 is available at www.newsweb.no and www.aktivkapital.com

Presentation
In connection with a presentation of the results, a press and analysts’ conference will be held at Hotel Continental, Stortingsgaten 24/26, on Wednesday 23 February at 09:00. Breakfast will be served from 08:30.

The presentation, in English, will be conducted by CEO Erik Øyno and CFO Scott Danielsen. The presentation can be followed via the Internet or telephone as follows:

Internet
Go to http://www.aktivkapital.com/ (investor relations) and click on “Webcast”

Telephone
Via the following numbers:

UK:    +44 (0) 20 7136 6283
UK freephone:    0800 028 1243
US:    +1 718 354 1385
US freephone:    1888 935 4575
Norway:    +47 23 16 21 89
Norway freephone:    800 19640

Participants will be requested to state their name, company and conference ID. Aktiv Kapital’s conference ID is: 2100417

Please dial in 10 minutes before the presentation starts.

About Aktiv Kapital
Aktiv Kapital operates in nine countries and is headquartered in Oslo. The Aktiv Kapital Group is one of the largest investors in non-performing credit portfolios in Europe and Canada. In 2010, Aktiv Kapital had an operating revenue of NOK 946 million and 356,000 paying customers. The company is listed on the Oslo Stock Exchange (AIK).