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Lowell full year results 2017 PDF Print E-mail
Thursday, 12 April 2018
Lowell, a European leader in credit management services, has today announced strong results for its full year ended 31 December 2017, with double digit growth across all key metrics.  The addition of the Carve-out Business from Intrum as a new Nordic region, which successfully completed after the close of the period, brings further strategic diversification and growth opportunities for the Group.

Financial Highlights: Lowell as at 31.12.17

› Cash Income up 22% to £590m
› Growth driven by:
20% increase in Debt Purchase cash collections
32% increase in 3rd Party Collections (3PC) income
› Cash EBITDA up 18% to £299m
› 58% year-on-year increase in 3PC placements
› 120month gross Estimated Remaining Collections (ERC) up 17% year-on-year to £2.1bn

Operational Highlights
› Acquisition of Carve-out Business from Intrum
› Full FCA authorisation achieved in the UK › Reduction in cost of debt through our refinancing strategy

James Cornell, CEO Lowell, said: “The last 12 months have been a period of significant change for our business: embedding the new brand and the acquisition of the Carve-out Business from Intrum.

“But this is how we consistently deliver for our stakeholders – better results through continued innovation, investment and improvement.

“And within this, we kept sight of our mission – to make credit work better for all; helping our clients thrive, and getting our customers’ finances back on track.

“The figures reported today show a diversifying business that is building platforms for growth on the solid foundations of prudence and sustainability.

“These are strong results that reinforce our confidence in our strategy and how we do business, this is the Lowell Way.”
 

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