doBank publiceerde vandaag prima 3Q18 cijfers en outlook.
Consolidated financial highlights as at September 30, 2018 compared with September 30, 2017.
? Gross revenues: €161.9 million, +11% on €145.7 million;
? Net revenues: €145.9 million, +10% compared with €132.4 million;
? EBITDA: €54.4 million, +30% compared with €41.7 million;
? EBITDA margin: 34%, up 5 percentage points compared with 29%;
? Net profit: €34.8 million, +29% compared with €26.9 million;
? Net financial position: a positive (cash) €37.5 million, after dividend payments of €30.9 million (a
positive €38.6 million at December 31, 2017);
? CET1: 29.1% compared with 26.4% at December 31, 2017 (CET1 of CRR Group at 24.4%
compared with 29.8% at December 31, 2017).
Portfolio under management
? Gross book value of assets under management (GBV) amounted to €83.5 billion (€76.7 billion at
the end of 2017 and €78.9 billion at September 30, 2017), with the rise reflecting the progressive
onboarding since the start of 2018 of new servicing contracts with a GBV of more than €12 billion. The
GBV of assets under management amounted to €85.3 billion including the €1.8 billion contract awarded
by Greece’s four systemic banks.
? Collections amounted to €1,334 million, +8% compared with €1,234 million at September 30, 2017.
Developments in collections benefitted from a significant acceleration in the third quarter of the year,
in line with expectations, reflecting the impact of the onboarding of new management contracts in the
first half of the year. The sharp growth in collections in the third quarter of 2018 also reflected a
favourable basis of comparison compared with the same period of 2017, a year in which annual
collections were more highly concentrated in the first half of the year.
OUTLOOK
In line with the objectives of the 2018-2020 Business Plan, presented on June 19 this year, in 2018 the Group
intends to continue strengthening its leadership in the credit servicing market.
By obtaining new management contracts with a gross book value of between €15 billion and €17 billion and
improving operating efficiency, the Group expects to achieve collections of more than €2 billion and, with the
contribution of ancillary services as well, post gross revenues of over €230 million. The growth in revenues will
be accompanied by an expansion of our operating margin (ordinary EBITDA margin), substantial cash
generation and a dividend payout of at least 65% of ordinary consolidated net income.