28th April 2016
Lowell GFKL Group, a European leader in credit receivables management businesses, today announces strong growth for the period ended 31 December 2015. The first annual results since the combination of Lowell and GFKL demonstrate the successful first phase integration of the two businesses with sustained growth, high returns and visible earnings. The Group also announces the acquisition of IS Inkasso Service, the Austrian market leader in third party collections.
• Strong year-on-year growth reported across key income and balance sheet metrics
• Group year-on-year Cash Income growth of 13% and Cash EBITDA growth of 18% to £212m, largely driven by higher Non Performing Loans (NPL) cash collections
• £250m invested in NPLs across multiple sectors; up 43% year-on-year
• Investment diversification continues with 295 NPL Portfolios acquired with a face value of £2.8bn
• FY16 acquisition profile supported by 37 Forward Flow agreements – up 28% year-on-year
• High Estimated Remaining Collection (ERC) accuracy with the Group achieving 100.2% of the collections forecast for the period.
• 120m ERC growth of 24% to £1.4bn
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