Net revenue was up 15% to EUR 545m and Adjusted EBITDA was up 20% to EUR 355m (excluding non-recurring items, both figures in constant currency). The investments in Debt Purchasing reached an all-time high of EUR 395m.
- We continued our positive trend in the fourth quarter with double digit growth in both Net revenues and in Adjusted EBITDA, says CEO Klaus-Anders Nysteen.
Net revenue for the fourth quarter was up 10% compared to the same quarter last year, while the Adjusted EBITDA was up by 13% (excluding non-recurring items).
Regulatory changes for financial institutions throughout Europe continue to be an important driver for growth in the Debt Purchasing business line, and Lindorff Group has engaged in landmark portfolio acquisitions during the year from existing clients, DNB in Norway and Nordea in Sweden.
These are contributing to an all-time high Estimated Remaining Collections (ERC) of EUR 2,44bn (up from EUR 1,97bn).
- Lindorff Group is maintaining a well-balanced business mix where Third Party Collection (3PC) and Debt Purchasing are equally important. In 2015 we have continued our growth by closing an extension to an existing carve-out in Spain as well as entered the Polish market through acquisition of Casus Finanse, says Nysteen.
Lindorff's operational excellence initiatives were continued during 2015 and there are now 135 employees in the Lindorff Business Services Centre in Vilnius, Lithuania.
- We expect tough competition and more consolidation in the Credit Management Services industry in the years to come. We believe we are well positioned to take advantage of the market conditions and the momentum in the industry, says Nysteen.
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 3700 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