EOS Germany: Further increase in revenue to EUR 341.1 million.
Andreas Kropp, Member of the EOS Group’s Board of Directors responsible for the German market, explains how the EOS Group’s strongest region achieved its outstanding performance.
- Revenue increase achieved.
In Germany, EOS once again bumped up revenue slightly over the previous year to EUR 341.1 million.
- Previous year far surpassed.
Increase in investments in portfolio purchases, especially in real estate and receivables secured by real estate.
- Growth in fiduciary business.
In Germany, the number of receivables in the fiduciary business increased by 18 percent over the previous year.
We are happy in Germany about a further increase in revenue to EUR 341.1 million. With a share of EOS Consolidated’s turnover of 41.9 percent, Germany is the EOS Group’s strongest region.
The volume of fiduciary debt collection grew over the last year. The number of receivables increased by 18 percent. In debt purchasing, we held our ground very well in a highly competitive environment. Due to the good economic situation in Germany, only a few significant portfolios went on the market. Despite that, we stepped up our investments by nearly 24 percent. For example, we were able to acquire a forward flow portfolio from a major German bank with a term of 24 months. We also intensified investments in real estate-secured receivables and real estate to be restructured. Our inventory of commercial real estate nearly doubled. At the same time, we were able increase the volume of restructured real estate divestitures.
EOS sold the EOS Health Honorarmanagement AG within the scope of the sale of factoring activities, with closing in May 2019. We are continuing to embrace digitalization in Germany with the further development of the debt collection system FX. We are also positioning ourselves with our good reputation and wealth of experience in busi-ness process outsourcing as a partner for companies wishing to outsource their receivables management.
Despite the tough competition, we increased debt purchases.
Link to our press release.
Photo Credits: Jann Klee