Significant increase in investment volume in Eastern and Western Europe
Even stronger focus on international collaboration and digitalization
Corporate Responsibility (CR): Combined Annual and Sustainability Report based on Global Reporting Initiative (GRI) standards for first time
The EOS Group enjoyed strong growth in the 2022/23 financial year. Europe’s leading investor in non-performing loans, debt and real estate portfolios, and expert in the processing of outstanding receivables, achieved an EBITDA of EUR 445.9 million in fiscal 2022/23. A major factor in this success was the significant increase in investment volume of EUR 668.6 million (in the previous year) to EUR 1.2 billion, with EOS investing in both secured and unsecured receivables.
Outstanding operating performance
The expert processing of existing NPL portfolios (non-performing loans) from previous years also contributed to the increase in earnings and revenue in fiscal 2022/23. Marwin Ramcke, CEO of the EOS Group, had this to say: “Given the international political and macroeconomic situation at the beginning of the financial year, this kind of growth was not foreseeable. That we were able to achieve such a result in these turbulent times is due in particular to the dedication of our around 6,000 employees.”
The broad positioning of the EOS Group with 24 national subsidiaries in Europe has also had a positive impact on the overall result, says Justus Hecking-Veltman, CFO of the EOS Group. “Our diversification gives us enormous stability as a group of companies. We are not dependent on individual markets. Our longstanding expertise as a purchaser of NPL portfolios, but also our patience in certain markets, have paid dividends in this financial year,” says Hecking-Veltman.
Eastern Europe builds on previous year with high investment level
With a share of 42 percent, Eastern Europe is the strongest performing region within the EOS Consolidated. Compared with the previous year, the Eastern European subsidiaries were even able to increase their revenue by around 50 percent. “With an investment volume of around EUR 400 million, we were also able to build on our high figures from the year before,” says Carsten Tidow, the member of the Board responsible for Eastern Europe. This is exemplified not just by the renewed high investments in Greece, Poland and Croatia, but also by a small country like Bosnia and Herzegovina, where the secured NPL portfolio business was heavily expanded.
Western Europe quadruples investment volume
At EUR 612 million, the EOS Consolidated managed to more than quadruple its investment volume in Western Europe. This is attributable above all to the markets in France and Spain, says Dr. Andreas Witzig, member of the Board with responsibility for Western Europe. In this conjunction, Portugal is also of particular note: “Although our company there was only founded in 2022, today more than 20 colleagues are active in the Portuguese NPL market and have been able to complete their first NPL purchases.” The implementation of Kollecto+, the Group’s own debt collection software, which is already in use in eight EOS countries and creates relevant synergies, also contributed to the company’s good start.
High competitive pressures in Germany
In the German market, the EOS Consolidated recorded a decline in revenue. The main reason for this was the intense competition, says Andreas Kropp, Managing Director EOS Germany. “The German NPL market is the most established of all NPL markets we operate in as a Group. There are a lot of competitors on the market that ensure a high price level for the debt portfolios. Being connected to our own debt collection system Kollecto+ is an important step for us, allowing us to become more efficient and improve our competitiveness,” Kropp continues.
“Debt collection means taking responsibility”
For the first time, the EOS Group has published a combined annual report and sustainability report. It is based on the standards of the Global Reporting Initiative (GRI) and shows how EOS supports the UN’s sustainability goals.
“We have always said that debt collection means taking responsibility, so corporate responsibility has therefore long since been a major issue for us,” stresses CEO Marwin Ramcke. “We strive to become a little better every day. In this context, the GRI standards help us to make transparent how sustainable our actions are and what we are achieving in this area.” According to Andreas Kropp, this is not just a matter of traditional environmental issues. The fair treatment of defaulting consumers also plays a major role. “We want to help them become debt-free as quickly as possible. To this end we offer various services that allow people to pay anonymously at any time. In our German service portal, consumers can also set their own installment rates.”
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With around 50 years of experience and offices in 24 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
For more information on the EOS Group, please go to: eos-solutions.com
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