In the second quarter of 2016, Lindorff delivered strong results with net revenues of EUR 165 million, representing an increase of 29 percent (31 percent in constant currency) compared to the same quarter last year. Adjusted EBITDA was up 34 percent to EUR 118 million, excluding non-recurring items.
The acquisition of the Aktua Group in Spain in the second quarter cements Lindorff's position as Europe’s leading credit management service provider. Aktua was included in Lindorff’s accounts from June. Furthermore the acquisition of Cross Factor in Italy represents an additional step in expanding Lindorff’s market position in the Italian market.
- The acquisition of Aktua significantly strengthens Lindorff’s servicing capabilities and expands the Debt Collection servicing platform. With Real Estate Servicing now complementing the existing product offering, we are well positioned to transfer knowledge and capabilities to other Lindorff markets, says Klaus-Anders Nysteen, CEO of Lindorff Group.
Investments in Debt Purchasing amounted to EUR 51 million in Q2 2016 compared to EUR 29 million in Q2 2015. Over the last twelve months investments in Debt Purchasing amounted to EUR 398 million. Collection performance on Lindorff owned debt continued to be strong, delivering 113 percent of the forecast in Q2 2016.
- There is still a positive supply of non-performing debt in our markets and the industry consolidation continues. Our continued focus on cost control and operational efficiency ensures profitable and sustainable growth, says Klaus Anders Nysteen.
Debt Collection and Debt Purchasing made up 48 percent of Net revenue in Q2 respectively, while other revenues, including payment services, made up the remaining 4 percent.
Founded in 1898, Lindorff is the leading full-service European credit management service provider, offering services within debt collection and debt purchase as well as payment and invoicing services.
The company has 4300 employees in 13 countries with headquarters in Oslo, Norway. In 2015 Lindorff generated EUR 534 million in net revenue (2014: EUR 475 million).
Lindorff is majority owned by Nordic Capital Fund VIII. www.lindorff.com