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Aforti Exchange

Aforti Holding presents its performance for August: a 40% turnover increase at the foreign exchange platform month-over-month and the first tender for a portfolio of receivables the company won

4 September 2017


Aforti Holding financial Group reported over PLN 41.9 million of consolidated income in the 2Q 2017. The performance tripled in comparison to analogous period in the previous year. The consolidated net profit of the Group amounted to PLN 424.1 thousand and was by 52% higher than in analogous months in 2016. In the preceding quarter, the Group reached EBIT margin (operating profit) level.

On 23rd August, the Management Board of Aforti Holding informed on the commencement of negotiations concerning entries in term sheet shareholders of an entity operating in the factoring industry. The negotiations relate to an entity which has an established position on the factoring market and aim at stipulating the rules of the take-over, rules for taking over the financing of factoring shares and establishing legal terms and conditions of the transaction.

“The significant increase in the nominal value of debt collection orders in comparison to the previous month is mainly the effect of developing our regional network. In the second half of August we won a tender and acquired our first portfolio of receivables related to unpaid traffic tickets. We are already recording first payments from that portfolio.”, Klaudiusz Sytek informs.

Aforti Collections, a debt recovery company, reported PLN 2.6 million in the nominal value of the orders for debt collection, which is by PLN 1 million more than in July this year. The number of orders acquired reached 1 693. Since the beginning of the year the value of the debt collection orders reached PLN 18.6 million.

“Aforti Exchange reports another turnover record at the platform. In August the figures were over 40% higher than in July this year. We invest in human resources and our team of Regional Sales Directors has 10 members onboard now.”,  Klaudiusz Sytek says.

August saw transactions worth EUR 7.7 million concluded at a foreign exchange internet platform operated by Aforti Exchange. This constitutes a significant increase when compared to the figures reached in the corresponding period of 2016 i.e. EUR 3.3 million. In the first half of 2017 the total turnover reached over EUR 46.2 million.

“The development of traditional sales network in Polish cities is an effective strategy. We can observe a substantial growth in the clients’ interest in our financial products. For that very reason we are undertaking steps to develop our team of specialists as we want to verify and process the loan applications in a quicker and more effective manner. This will surely boost our efficiency.”, Klaudiusz Sytek, the President of Aforti holding S.A. explains.

Consistent development in this business area results in a dynamic increase in the number and value of the loan applications filed. Since the beginning of the year the value of the loans granted has reached the amount of PLN 20.5 million and the value of the loan applications filed amounted to PLN 103.9 million.

The figures nearly doubled and tripled, respectively, when compared to the corresponding period of the previous year. Aforti Finance has been consistently implementing its sales policy and working on the development of its network of branches all over Poland. On 1st August a new, seventh already, branch was opened in Poznań. The company has also been focusing on strengthening its staff potential by developing the Credit Risk Analysis Team and Vinificators Team.

In August Aforti Finance, which offers micro-loans for the small and medium-sized enterprises sector, issued loans in the total amount of over PLN 3.3 million, against PLN 323.3 thousand in August 2016. There were 210 applications filed in this period for the total amount of PLN 19.2 million, whereas in August 2016 there were 59 applications filed for the amount of PLN 2.6 million.

Aforti Holding Group, which renders financial services for the SME sector, presented its operational and sales performance for August 2017. In the period, Aforti Finance issued loans worth PLN 3.3 million and the value of the applications filed reached PLN 19.2 million. In August, Aforti Exchange had a turnover of EUR 7.7 million at the foreign exchange platform. Aforti Collections  dealt with debt recovery cases worth PLN 2.6 million. Moreover, Aforti Holding announced recently it had commenced negotiations on purchasing an entity operating in the factoring sector.