Cerved reported revenues of Euro 520.6 million, +13.7% compared to Euro 458.1 million of fiscal year 2018; Adjusted EBITDA was Euro 236.6 million, +11.3% compared to Euro 212.6 million of fiscal year 2018, resulting in an Adjusted EBITDA margin of 45.4%; Consolidated Net Financial Position: Euro 549.5 million as of 31 December 2019, equating to 2.3x Adjusted EBITDA.
The Board of Directors of Cerved Group S.p.A. (MTA: CERV, the “Company”), the largest information provider and credit servicer in Italy, has examined the preliminary figures on Revenues, Adjusted EBITDA and Net Financial Position as of December 31, 2019. Please note that the audit of such financial results is ongoing and that the 2019 financial statements with complete and final data for the period will be examined by the Board of Directors on 13 March 2020.
Andrea Mignanelli, Chief Executive Officer of the Group, commented: “Financial year 2019 registered double digit growth both in Revenues as well as in Adjusted EBITDA, with a second half of the year which witnessed a pick-up in organic growth as well as the contribution of acquisitions completed during the year.
Consolidated revenues reached Euro 520.6 million, achieving overall growth of 13.7% which equates to 7.9% on an organic basis, and the consolidated Adjusted EBITDA was Euro 236.6 million, which corresponds to overall growth of 11.3% and 6.8% on an organic basis. The Net Financial Position was Euro 549.5 million, further reducing the leverage ratio to 2.3x compared to 2.7x last year.
At the divisional level, the Credit Information division grew both in Revenues and in Adjusted EBITDA by 7.4% and 4.0% respectively, also thanks to the contribution of MBS Consulting which was acquired during the year, and Marketing Solutions grew by 15.7% in Revenues and 1.3% in Adjusted EBITDA. The Credit Management division grew Revenues by 25.4% and Adjusted EBITDA by 33.1%.”
Source: Cerved Group Earnings Report