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Arrow Global Group PLC - Interim results for the six months to 30 June 2015 PDF Print E-mail
Thursday, 27 August 2015

Arrow Global Group PLC ((“the Company”) and its subsidiaries (together “the Group”)), a leading European purchaser and manager of debt portfolios, is pleased to announce its interim results for the six months to 30 June 2015 (“H1 2015”).

Highlights

·         Total revenue up 48.6% to £76.7 million (H1 2014: £51.6 million), driven by core collections up 41.9% to £100.6 million (H1 2014: £70.9 million)
·         Adjusted EBITDA up 33.9% to £65.7 million (H1 2014: £49.0 million); adjusted EBITDA ratio 65.3% (H1 2014: 69.2%)
·         Profit before tax up 21.1% to £16.4 million (H1 2014: £13.6 million) leading to a profit attributable to shareholders up 23.7% to £12.9 million (H1 2014: £10.5 million)
·         Underlying basic and diluted earning per share (“EPS”) of 8.7p representing growth of 13% (H1 2014: 7.7p) and delivering an LTM underlying return on equity (“ROE”) of 25.5% (31 December 2014: 26.1%)
·         Strong performance on purchasing - acquired debt portfolios for an aggregate purchase price of £75.4 million in line with target returns
·         Acquisition of Whitestar for €47.8 million and Gesphone for €8.1 million, strengthening our position in Portugal, diversifying our revenue streams and enhancing our servicing platform
·         Increased total purchased loan portfolios to £515.8 million (31 December 2014: £477.5 million) with 120-month ERC up 4.5% to £1,134.2 million at 30 June 2015 (31 December 2014: £1,085.4 million) and 84-month ERC up 5.0% to £942.0 million at 30 June 2015 (31 December 2014: £897.3 million)
·         Net debt £507.7 million and Net Debt to pro forma Adjusted EBITDA ratio of 3.8x (31 December 2014 pro forma: 3.4x), reflecting the impact of the Portuguese acquisitions. Balance sheet liquidity further strengthened with our Revolving Credit Facility (“RCF”) increased to £165 million
·         Interim dividend will be 1.7p per share (H1 2014: 1.7p)

(Source - Arrow Global Press Release)
 

 

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