Welcome to our
Annual Report 2021/22

You can learn all about the most important figures and developments of the EOS Group.

This is EOS

Here you will find the most important figures for the EOS Group and video statements by the entire Board of Directors.

EOS – your expert in receivables management

The EOS Group is a leading international, technology-driven expert in receivables management with more than 6,000 employees in 24 countries. For more than 45 years we have helped companies with our operational expertise so they can focus on their core business. Our clients work in many different sectors, such as banking, energy utilities, real estate, mobility, insurance, telecommunications and e-commerce.

The fiscal 2021/22 in brief

in annual revenue

was generated by EOS Consolidated in fiscal 2021/22. That is an increase of 1.6 percent over prior year.

EUR million



in Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), a slight decline compared to prior year.

EUR million


was the investment volume.

EOS Consolidated increased investments in receivables and real estate by EUR 134.3 million.

EUR million


serve some 20,000 customers throughout the world.



The EOS Group is represented in 24 countries.



Stable development in turbulent times

The EOS Group looks back on a solid fiscal year 2021/22. EOS wrapped up the business year with a slight revenue increase despite pandemic-related restrictions, planning uncertainty and a tense competitive environment.

The five members of the Board of Directors draw a positive resume and look back on the highlights of the financial year:

Marwin Ramcke on the developments in the EOS Group
Marwin Ramcke on the developments in the EOS Group
Justus Hecking-Veltman on the financial situation of the EOS Group
Justus Hecking-Veltman on the financial situation of the EOS Group
Carsten Tidow on the financial year in Eastern Europe
Carsten Tidow on the financial year in Eastern Europe
Andreas Kropp reviews the results for Germany
Andreas Kropp reviews the results for Germany
Dr. Andreas Witzig on the developments in Western Europe
Dr. Andreas Witzig on the developments in Western Europe

"We owe our success to our more than 6,000 employees, who make EOS more dynamic and more digital every day."

Marwin Ramcke

CEO of the EOS Group

"Diversifying risk makes us a stable partner for our clients over the long term. Plus, by expanding our analytical data pool, we achieve greater efficiency through improved control."

Justus Hecking-Veltman

CFO of the EOS Group

"We will become even more active in the NPL market – especially with secured debts."

Dr. Andreas Witzig

Member of the EOS Group’s Board of Directors responsible for Western Europe 

"Behind innovations there are always people. That’s why it’s important for us to network even more."

Carsten Tidow

Member of the EOS Group’s Board of Directors responsible for Eastern Europe

"We are constantly improving in such areas as data analytics, intelligent software and agile working."

Andreas Kropp

Member of the EOS Group’s Board of Directors responsible for Germany 


The 2021/22 fiscal year

How did revenue and earnings develop? The financial performance of EOS Consolidated is described here.

Insights into the financial year:
A comparison of revenue and earnings

After a slight decline in the previous year, EOS recorded a surge of 1.6 percent in total revenue in the 2021/22 fiscal year. The Group experienced growth especially in Eastern and Western Europe. For the first time, Germany was not the region with the highest revenue.

In the financial year 2021/22, the revenue of EOS Consolidated remained at a high level, confirming the strong operational performance of the past few years. The successful handling of portfolios purchased in previous years boosted revenues again in the past financial year. However, precautionary accounting measures due to the war in Ukraine had a dampening effect. For this reason, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) declined slightly.

Year-on-year revenue

Figures in MEUR


Earnings development (EBITDA)

Figures in MEUR


Consolidated revenue by region 2021/22

Figures in MEUR

The share of consolidated revenue generated by Eastern and Western Europe continues to grow. Despite a slight five percent decline, Germany remains one of the strongest performing regions within the EOS Group. The decline in revenue is primarily a consequence of the fierce competition in the NPL market. The steepest decline was recorded for the North American market, which can be attributed to the divestment of the North American subsidiaries during the year.

Eastern Europe
Western Europe
North America

Petra Scharner-Wolff: “EOS has established itself as a fixture of the Otto Group.”

Having evolved from the dunning division of OTTO, EOS is now one of the focus companies of the Otto Group. Petra Scharner-Wolff, Member of the Board of Directors of the Otto Group, explains the mutual benefits for both groups of companies in this video interview.

Financial performance in 2021/22

Revenue by region

In EUR thousand

In the financial year 2021/22, consolidated revenue increased by 1.6 percent to EUR 804.9 million, which was slightly above prior year (EUR 792.5 million). With an increase of 12.2 percent, the companies in Eastern Europe recorded the steepest climb, followed by Western Europe with an increase of 9 percent.
Revenue in Germany declined slightly, but remained high at EUR 274.8 million. Results in North America reflect the divestment of the subsidiaries that took place during the year. Revenue in that market was significantly below the previous year’s level.

 2021/2022 22020/2021 Change over prior year in %
Eastern Europe 280,148 249,719 +12.2
Germany 274,809 289,124 -5.0
Western Europe 225,644 207,104 +9.0
North America 24,276 46,575 -47.9
EOS Consolidated 804,877 792,522 +1.6

Income statement

Summary in EUR thousand

In the fiscal year 2021/22 EOS Consolidated achieved EBITDA in the amount of EUR 282.5 million (previous year: EUR 312.4 million). Compared to prior year, revenue climbed by EUR 12.4 million as a result of economic recovery that followed the first year of the pandemic. Measured against revenue and disregarding precautionary accounting measures, other operating expenses increased proportionately by 9.4 percent, or EUR 23.3 million. Other operating income and in-house work (debt collection software) capitalized with an effect on income were at the same level as in the previous year.

 2021/22 2020/21
Revenue 804,877 792,522
Total operating income 815,215 804,003
Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) 282,453 312,406
Earnings Before Tax (EBT) 228,544 253,805
Net income 201,236 223,822

Assets situation

In EUR thousand

Total assets of EOS Consolidated climbed by 4.7 percent to EUR 2.4 billion compared to the previous year. Among other factors, the increase can be attributed to the purchased portfolio of receivables and real estate*, which, due to the higher total investments in the financial year, climbed to EUR 2.0 billion. Purchased portfolios account for 75.4 percent and real estate in inventories for 7.8 percent of total assets.

*Financial presentation

 2/28/2022 in % 2/28/2021 in %
Fixed assets 209,498 8.8 234,620 10.3
Purchased receivables and real estate in inventories* 1,989,455 83.2 1,898,522 83.1
Receivables 29,949 1.3 60,964 2.7
Cash and cash equivalents 105,455 4.4 50,211 2.2
Other assets 56,457 2.4 39,161 1.7
Total assets 2,390,815 100 2,283,478 100

Equity and financing

In EUR thousand

In the past financial year, total financing increased by EUR 107.3 million to EUR 2.4 billion compared to previous year. The company’s equity increased to EUR 895.7 million, due in part to a partial profit retention from the previous year’s result. Thus, the equity-to-assets ratio increased further to 37.5 percent (previous year: 35.1 percent), which, relatively speaking, constitutes a very high level for a financial services provider. EOS Consolidated satisfies its refinancing needs with loans from banks and the parent company. The majority of this financing continues to have short-term maturity, which increased from 71 to 74 percent of debt financing compared to the previous year.

(For accounting reasons tables and text may contain rounding differences.)

 28.02.2022 in % 28.02.2021 in %
Eigenkapital 895.726 37,5 802.131 35,1
Rückstellungen 84.218 3,5 100.355 4,4
Verbindlichkeiten gegenüber Kreditinstituten 92.111 3,9 162.043 7,1
Verbindlichkeiten gegenüber nahestehenden Personen und Unternehmen 1.102.833 46,1 1.010.266 44,2
Verbindlichkeiten aus Lieferungen und Leistungen 41.962 1,8 42.147 1,8
Sonstige Verbindlichkeiten 173.966 7,3 166.537 7,3
Gesamtfinanzierung 2.390.815 100 2.283.478 100

In fiscal year 2021/22, EOS continued to support companies such as banks in reducing their non-performing loans (NPL) and receivables. Some highlights at a glance:


A leading Spanish bank and EOS in Spain have already dealt with numerous NPL portfolios in the past. Now the first portfolio with secured debts has changed owners — a first for EOS in Spain.

about EUR million (face value)



With a value of EUR 1.7 billion, EOS in Serbia concluded the biggest deal in the history of EOS in Eastern Europe. The portfolio, acquired as part of a secondary transaction, consists largely of secured debts.

EUR billion



At the end of 2021, EOS in France concluded its biggest deal of the financial year. The portfolio of mostly secured debts is from three regional banks of the BPCE banking group, with which the company has had a good business relationship for quite some time.

EUR million (face value)



EOS received more than half a million receivables from a renowned “buy-now-pay-later” provider for processing in a fiduciary capacity.



We continue to invest at a high level

After the pandemic subsided, EOS once again increased its investments in non-performing debts and real estate in the 2021/22 fiscal year. The increase of the total volume was in the three-digit million range. In particular, EOS boosted the purchase of secured receivables and real estate.

Investments in debt purchases and real estate in 2021/22

in EUR million

The EOS Group increased its investments significantly compared to previous year. Total volume rose by about 25 percent, from a total of EUR 534.3 million in the previous year to EUR 668.6 million. Investments were made in unsecured and secured debts and in real estate. EOS again purchased most NPL portfolios in the Eastern European market, followed by Western Europe and Germany. In addition, EOS purchased receivables portfolios in countries where the Group is not represented by its own company. EOS cooperates with local debt collection experts when making decisions about potential purchases of receivables portfolios, which the partner then handles locally in a professional manner. At EOS, these collaborations are called “Debt Collection 4.0.”

Eastern Europe
Western Europe
Debt Collection 4.0
North America

Unsecured in 2021/22

Eastern Europe
North America
Western Europe
Debt Collection 4.0

Secured / Real estate in 2021/22

Eastern Europe
Western Europe

Purchased receivables in 2021/22

in EUR million

At EUR 1.99 billion*, the carrying value of the portfolios recognized at the end of the financial year was just below the two billion mark. This constitutes an increase of almost five percent thanks to a total value of some EUR 100 million above previous year’s figure. It is a development which shows that debt purchases are still on a course of growth. At EUR 1.31 billion, unsecured receivables portfolios still totaled more than twice that amount for secured portfolios and buildings combined. Eastern Europe holds the most receivables in the entire Group, followed closely by Western Europe and Germany.

*Financial presentation

(For accounting reasons tables and text may contain rounding differences.)

Eastern Europe
Western Europe
Debt Collection 4.0
North America

Unsecured 2021/22

Western Europe
Eastern Europe
Debt Collection 4.0
North America

Secured / Real estate in 2021/22

Eastern Europe
Western Europe

Our Focus Topics

As a company, we want to be successful today and tomorrow. For our future, we build on the three important pillars of corporate responsibility, technological progress and international cooperation.

Debt collection means assuming responsibility

EOS has defined sustainability goals in its Corporate Responsibility (CR) strategy. In its efforts to change finances for the better, the company is taking more responsibility in four areas of action. 

Responsible collection

EOS stands for communicating with consumers in a respectful and fair manner, and for solution-oriented, sustainable debt relief.

Joint progress

EOS takes social responsibility in its own company by promoting empowerment, diversity and inclusion and in society by starting its own education initiatives.

Environmental protection

Together with the Otto Group, EOS employs focused measures that can be implemented quickly to achieve the goal of climate neutrality by 2030.

Financial sustainability

EOS advocates strict, binding industry standards and responsible codes of conduct.

The Corporate Responsibility highlights of the year in a video

Any company in any industry can contribute to more sustainability.

EOS employed a variety of measures to ramp up its commitment to corporate responsibility in the past year. It produced instructional material for financial education at schools, planted trees to fight the climate change and took a public stand for more diversity. The different activities show: any effort, however small, makes a difference and helps change for the better.

Learn more about the corporate responsibility of EOS:

EOS a member of the UN Global Compact

6 min.

Last year EOS joined the UN Global Compact initiative. The two compliance experts Alisha Kumar and Sibylle Weingart talk about how the Group wants to contribute to creating a more sustainable world.

Learn more
Financial literacy means responsibility: A girl sits at a laptop and takes part in online learning.

So setzte EOS sich für eine schuldenfreie Welt ein

5 min.

To curb excessive private debt, EOS takes on responsibility and plays a part in improving financial education in society. The initiatives are geared toward children as young as elementary school age.

Learn more
Diversity at EOS: Tijen Onaran, diversity expert

Interview: „Diversity ist kein Frauen-Thema.“

5 min.

Diverse teams are more successful, says diversity expert Tijen Onaran. In an interview with two EOS employees she explains how to achieve diversity and equality in a company.

Learn more

We live technology in all its facets

Technological progress has always been an integral part of our company’s DNA. It covers everything from analytics models and chatbots to the digital transformation of the entire group of companies. An overview.

Data and analytics

  • A powerful data and analytics platform based on cloud technology
  • Dynamic workflows for smooth processes
  • AI-assisted decision-making and calculation models

Focus on consumers

  • Personalized communication with our next-best action approach
  • Self-services integrated in smart portals
  • Chatbots for easy interaction

Opportunity and risk management

  • Data-based portfolio evaluation / value-based pricing 
  • Risk analysis of the IT systems / IT security management
  • Business model development and innovation

Digital transformation

  • Agile organization with a hybrid work model
  • Cultural transformation as the basis of our business
  • International collaboration in order to exploit synergy effects

“Data have changed the face of our world

Marie-Laure Jacobs is a data analyst at EOS Aremas in Belgium. In the video she explains how data analysis optimizes the debt collection process — and changes finances for the better.

20 million EUR is the amount that EOS invested in innovative technology and IT processes in fiscal 2021/22.

EUR million


employees develop and implement digital processes.



The chatbot of the Belgian subsidiary EOS Contentia conducts more than 350 conversations with consumers every month.

more than


use state-of-the-art technology to ensure information security at EOS.

security monitoring tools 


Learn more about EOS technology projects here:

Technology highlights of the EOS Group: overview of all trends.

Tech highlights of the EOS Group

EOS embraces the benefits of digital transformation and invests in new technologies year after year – from self-learning analytics models all the way to impenetrable IT security systems. A closer look at four examples.

Learn more
Chatbot survey

EOS study: How do companies employ chatbots?

Two-thirds of European companies already use chatbots. What benefits the digital helpers deliver and what to consider when setting up your own chatbot are covered in the EOS Chatbot Study 2021.

Learn more

Networked in 24 countries to form one Group

The EOS Group focuses on international networking. Our experts in 24 countries cooperate closely in order to change the finances of our clients and of consumers for the better. Their collaboration has made EOS an expert in cross-border debt collection. With our network of 83 partner companies, EOS processes cross-border debt collection cases in more than 180 countries. At the core is our IT platform EOS Global Connection, where partners and customers can follow the development of a case in real time.

were handled by EOS employees all over the world in 2021/22.

cross-border cases


98 percent of all successful collections were settled out of court, resulting in quicker resolutions and lower costs.

percent of all successful collections


including 581 new clients, used the international collection services of EOS.




In the last fiscal year EOS processed collections in 189 countries.



work for EOS in cross-border debt collection, 286 of them at EOS companies.


read the ePaper

Collaboration across borders. Read more here

How the EOS Cross-border Center works

International trade stimulates a country’s economy, but can create a problem with open invoices. With its Cross-border Center, EOS found a way more than 10 years ago to collect receivables across borders.

Learn more

We work worldwide for you.

As of July 2022