In the first quarter of 2018 the Group’s revenues increased by 8.4%, reaching Euro 105.3 million compared to Euro 97.2 million in the first quarter 2017 (+7.1% on an organic basis).
- The Credit Information division grew by 1.4% thanks to the positive contribution of both business segments.
- The Corporate segment grew by 0.5% compared to the first quarter of 2017 which was particularly positive and the solid performance of the fourth quarter of 2017.
- The Financial Institutions segment exceeded the performance of previous quarters growing by 2.6%, mainly thanks to the strong demand for appraisals in the real estate segment and the positive results of the new initiatives in advanced analytics solutions.
- The Credit Management division grew by 32.9% reflecting the solid performance of the credit workout and legal services segments related to banking NPLs, and the positive result of the segment related to the management of receivables for corporate and utilities clients and performing credit exposures.
Marco Nespolo, Chief Executive Officer of the Group, commented:
“2018 has kicked off with strong growth in the first quarter: Revenues increased by +8.4% and also Adjusted EBITDA grew by +8.4%, both of which important results which allow us to lay the foundations for a year in line with expectations.”
“The first quarter benefits from strong grown in Revenues and Adjusted EBITDA in the Credit Management division thanks to an increase in assets under management in excess of 20 billion Euros from the Quaestio, REV Gestione Crediti and Banca Popolare di Bari portfolios.”
“In confirming – for the meanwhile – our strategic outlook as highlighted in our first Investor Day in May 2016, we have scheduled a second Investor Day this forthcoming 25th of June 2016 in order to meet with investors and financial analysts to communicate our strategy and our economic and financial targets for the medium to long term.”
Source: Cerved Press Release