(Finance) – The takings in the first quarter of the year of AMCO – Asset Management Company – they show a growing performance and reach 299 million euros, + 15% compared to 260 million in the same period of the previous year.
Improve by 24% compared to the first quarter of 2021, EBITDA net of net interest from financial assets, reaching € 30.8 million, thanks to the operating performance and the lower cost of debt for the refinancing operation at more advantageous conditions than the secured debt linked to the transaction MPS. EBITDA amounted to € 46.6 million and is substantially in line with the first quarter figure
2021 (47 million). The EBITDA margin reaches 63.5%.
THE revenues in the first quarter of the year they recorded a growth of 10% and reached 73.4 million (66.6 million in the first quarter of 2021) driven by income and expenses from ordinary operations which refer to collection recoveries (all cash-based) of portfolios in the balance sheet, with maximization of recovery values thanks also to out-of-court management: income and expenses from management amounted to 12.6 million, + 55% y / y.
Fitch confirms “BBB” rating
On April 27, 2022, Fitch Ratings confirmed AMCO’s long-term “BBB” and short-term “F2” ratings, stable outlook, maintaining the investment grade level. The confirmation of the rating, in line with that attributed to the Italian Republic (BBB / Stabile), testifies “the solidity of AMCO’s balance sheet”. Fitch emphasizes the uniqueness of AMCO’s patient approach to supporting the business continuity of debtor customers, especially SMEs.