Cerved Group Preliminary 2020 Revenue Down 6.2%

Consolidated revenues: € 488.3 million, -6.2% compared to the 520.6 million of the year 2019;
Consolidated Adjusted EBITDA: Euro 202.9 million, -14.2% compared to 236.6 million in 2019, with a margin on revenues of 41.6%;
Consolidated Net Financial Debt: Euro 587.7 million at 31 December 2020, equal to 2.9x the Adjusted EBITDA.

Analysis of Preliminary Revenues

In 2020, the Group’s consolidated revenues decreased by 6.2%, reaching Euro 488.3 million compared to the 520.6 million of the previous year (- 9.4% on an organic basis).

The performance of the business units in 2020 is in line with the trend seen in the first nine months of the year. The Risk Management business unit recorded significant growth in the Financial Institutions segment thanks to the stability of Business Information services and new support services to banks in the provision of loans guaranteed by the Fondo Centrale di Garanzia.

With reference to the Corporates segment, the Covid-19 Impact Assessment services partially offset the lower consumption of the companies that suffered during the lockdown period. The Growth Services business unit has grown both externally with the consolidation of the companies acquired in 2019 in the consulting services sector, and internally with the Atoka marketing intelligence services which will be an engine of growth in the future. The decline suffered by the Credit Management business unit is mainly due to the slowdown in court activities, particularly marked during the lockdown in the second quarter, as well as to lower business volumes related to a servicing contract in 2020.