(Finance) – AMCO – Asset Management Company – closed the period relating to the first 9 months of 2022 with results that confirm the good performance of collections achieved by all business Divisions through a flexible management model.
The takings in the first nine months of the year they reach 978 million and show a growth of 4% compared to the 942 million of the same period of the previous year. The overall annualized collection rate improved, from 3.8% in the first nine months of 2021 to 4.1% in the nine months of 2022, confirming the strengthening of the recovery capacity.
EBITDA net of interest from financial assets amounted to € 85.5 million and was down (-10.5% y / y) due to extraordinary revenue realized in 2021 and a significant increase in costs in 2022, although benefiting from the lower cost of debt thanks to the early repayment of the secured debt in June 2021.
Ebitda was 133.1 million, -14% compared to the first nine months of 2021 (155.1 million). The EBITDA margin is equal to 58.7%.
THE revenues in the nine months of 2022 they amounted to € 226.6 million, -3% y / y. In the nine months of 2021 – explains a note – revenues benefited from a significant recovery from a single position. Net of this, the y / y change in revenues would be positive.
At the end of September, the Asset under Management Pro-forma (AuM) amounted to 36.2 billion, with a business mix consisting of 64% of bad loans (NPL) and 36% of unlikely to pay (UTP). The figure reflects the credit purchase agreements signed in the third quarter, expected to be finalized by the end of the year with: the Intesa Sanpaolo Group for 1.4 billion leasing credits and 120 million single names, UnipolREC and MPS for 2.6 billion and 208 respectively millions of bad loans. Net of the transactions in the process of being finalized, the AuM at 30 September 2022 amounted to approximately 32 billion (59% bad loans and 41% UTP), a slight decrease compared to the 32.5 billion at the end of 2021 due to the effect of collections and the natural evolution of the wallet.