Italy · Delayed Price · Currency is EUR doValue Earnings Call Transcripts
Fiscal Year 2026
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The 2029 plan targets EUR 330m–EUR 350m EBITDA and EUR 100m–EUR 120m normalized free cash flow, driven by digital growth and AI-led NPE efficiencies. A EUR 10m buyback was approved.
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Q2 2026 saw strong revenue and EBITDA growth driven by coeo's consolidation, digital receivables expansion, and automation. The group achieved its new business target early, confirmed EUR 300 million EBITDA and EUR 90 million free cash flow guidance, and strengthened its capital structure through refinancing.
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Q1 2026 results were in line with internal phasing, with revenue at EUR 120 million and EBITDA margin at 29%. coeo, acquired in April, is outperforming expectations and will drive growth and diversification from Q2. Full-year guidance and dividend confirmed, with strong liquidity and leverage under control.
Fiscal Year 2025
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Met or exceeded all 2025 business plan targets, with strong revenue and EBITDA growth, robust cash flow, and successful M&A execution. Outlook for 2026 remains positive, with a strong pipeline, high dividend payout, and continued focus on technology and market expansion.
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Solid nine-month results with 29% revenue growth and 43% EBITDA ex NRI increase, driven by non-NPL revenue and successful integration of Gardant. New business intake surpassed targets, and a EUR 350 million bond issuance secured future financing.
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Record H1 results with 32% revenue growth, 47% EBITDA increase, and strong cash flow. Non-NPL and value-added services drove diversification, while the coeo acquisition is set to further enhance digital capabilities and growth. Guidance and leverage targets reaffirmed.
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The acquisition of Queria is a transformative, strategic move to diversify and digitize the business, expanding into high-growth sectors and geographies. The €350 million deal, with additional earnout, is expected to deliver strong EPS accretion, enhanced resilience, and significant long-term growth, with minimal integration risk and a committed management team.
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Q1 2025 saw strong revenue and EBITDA growth, improved cash generation, and successful Gardant integration. New business targets were raised, leverage decreased, and value-added services expanded, with positive outlook and guidance reaffirmed.
Fiscal Year 2024
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Surpassed 2024 business and financial targets, integrating Garant and strengthening capital structure. EBITDA reached EUR 165 million, with strong cash flow and improved leverage. 2025 guidance anticipates further revenue and EBITDA growth, supported by ongoing synergies and market expansion.
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Achieved €8 billion GBV from new business ahead of schedule, with strong market share gains in Greece and Spain. EBITDA ex-NRI reached €96 million, and 2024 guidance is confirmed, supported by the Gardant acquisition and robust cost discipline.
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H1 2024 saw EBITDA exceed expectations at EUR 67 million, despite a 5.3% revenue drop year-over-year, with strong new business intake and robust cost discipline. The Gardant acquisition is on track for year-end, and full-year guidance was revised slightly lower due to delayed disposals.