Hamburg. In the 2016/2017 financial year, the Hamburg-based EOS Group is reporting exceptionally good results. At EUR 195.4 million, earnings before taxes (EBT) were significantly higher than the figure for the previous year. The debt collection specialists substantially increased their sales to EUR 663.8 million.
This success is all the more remarkable given the increasing pressure of competition. ‘In the wake of an expansive monetary policy, many competitors with huge amounts of capital are flooding the market. Despite this, we have held our own very well, especially in the segment of purchasing receivables,’ says Klaus Engberding, Chairman of the EOS Group’s Board of Directors. EOS has substantially stepped up its investments in this area. ‘Our experience in analyzing, acquiring and processing receivables portfolios is recognized and valued in the industry,’ he continues.
But EOS has no intention of resting on its laurels. ‘We are focusing on the future. We plan to increase our effectiveness by putting the emphasis on data-driven management of collection processes. The EOS Group is in the midst of its biggest investment in IT systems yet, totaling EUR 90 million.’
‘We are not only investing in technologies, but also in human resources. To make the most of the opportunities offered by digitalization, we need the right mindset,’ says Mr. Engberding. The Group has initiated a comprehensive change process: ‘With our Cultural Journey@EOS, we are aiming to define how and on what basis we will be cooperating in the future. This is a process that will involve all of our roughly 7,000 employees worldwide.’
Overview of key performance indicators:
2016/17
Sales revenue (MEUR): 663.8
EBITDA (MEUR): 222.6
EBT (MEUR): 195.4
2015/16
Sales revenue (MEUR): 596.1
EBITDA (MEUR): 173.8
EBT (MEUR): 181.4
Germany remains the most important market, accounting for 46 percent of revenues. Compared with the previous year, revenues increased by 11.1 percent to EUR 305.5 million. Developments in Western Europe proved satisfactory, with sales revenues rising by 35.5 percent to EUR 164.2 million. One of the reasons was strong growth in the volume of purchased debt, with France and Belgium being prime examples.
In Eastern Europe, by contrast, sales revenues rose by 21.5 percent to EUR 131.4 million. In this region, this is the best result in the EOS Group’s entire history. A much higher level of revenues from purchased debt achieved in Croatia and Hungary made a significant contribution to this positive outcome. In the North American countries, sales revenues fell to EUR 59.5 million. This is primarily due to a business downturn in the area of receivables management for government-granted student loans.
The EOS Group
The EOS Group is one of the leading international providers of customized financial services. Its main focus is on receivables management. With a workforce of over 7,000, EOS provides security through customized services for around 20,000 customers in over 26 countries worldwide through 55 subsidiaries. Together with an international network of partner companies, the EOS Group offers its customers support in 180 countries on all continents. Key target sectors are banking, insurance, energy, telecommunications, healthcare and real estate, as well as the public sector, including local public transport, and mail order and e-commerce.