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.