Press Releases
EOS Group achieves top industry recognition with outstanding ESG ratings
- EOS Group received "Top Rated Industry" and "Top Rated Regional" awards from Morningstar Sustainalytics with a 9.9 ESG rating
- The Group is ranked in the top two percent of Diversified Financials globally, showcasing strong ESG commitment
- In addition, the company earned the EcoVadis Bronze Medal
Furthermore, the group has achieved a commendable initial ESG rating from EcoVadis. EOS is among the top 12 percent sustainable companies in its industry and has been awarded the EcoVadis Bronze Medal.
Motivation to further drive commitment to sustainability
Marwin Ramcke, Chairman of the EOS Group's Board of Directors: “The ratings are a clear demonstration of our commitment to responsible and sustainable business practices and a great motivation for us to continue our efforts. Because, of course, we’re never done!”
Morningstar Sustainalytics is a leading company for ESG research, ratings and data. The ESG risk ratings by Morningstar Sustainalytics measure how well companies manage the main sector-specific ESG risks. ESG stands for Environment, Social and Governance. EcoVadis is a globally recognized provider of sustainability ratings for companies.
Morningstar Sustainalytics is a leading company for ESG research, ratings and data. The ESG risk ratings by Morningstar Sustainalytics measure how well companies manage the main sector-specific ESG risks. ESG stands for Environment, Social and Governance. EcoVadis is a globally recognized provider of sustainability ratings for companies.
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With over 50 years of experience and offices in more than 20 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
For more information on the EOS Group, please go to: https://eos-solutions.com/
For more information on the EOS Group, please go to: https://eos-solutions.com/
EOS Group: Successful development in the 2023/24 financial year
- EOS Group achieves second highest earnings in 50-year history
- ESG risk rating from Morningstar Sustainalytics: EOS Group one of top 3 in “Consumer Finance” sector
- Corporate Responsibility (CR): EOS publishes second combined annual and sustainability report
Successful performance despite a challenging economic climate
Despite macroeconomic challenges such as rising interest rates and high inflation, the EOS Group once again succeeded in attaining an impressive EBITDA of over EUR 400 million in the past financial year according to Marwin Ramcke, CEO of the EOS Group. “While the uncertain macroeconomic times are bound to persist, we have nevertheless made dealing with uncertainty at a professional level our strength, have demonstrated our ability to act with resilience and the required flexibility, and are focused on achieving the best solutions for our customers,” Ramcke goes on to say.
The fact that the EOS Group has once again achieved very good earnings despite the difficult macroeconomic situation is due in particular to the outstanding performance of the international teams in recent years, stresses Justus Hecking-Veltman, CFO of the EOS Group at the time the annual financial statements were prepared. Overall, while investments have fallen significantly compared to the exceptional financial year of 2022/23, significant purchases of receivables in the double or triple-digit million range have confirmed the strong market position, Hecking-Veltman adds. “For this reason, the purchase of receivables portfolios will also remain a key focus area of the EOS Group in the future.”
On August 1, 2024, Hecking-Veltman left the company to pursue other challenges. His successor will be Dr. Eva Griewel, who has a PhD in economics.
The fact that the EOS Group has once again achieved very good earnings despite the difficult macroeconomic situation is due in particular to the outstanding performance of the international teams in recent years, stresses Justus Hecking-Veltman, CFO of the EOS Group at the time the annual financial statements were prepared. Overall, while investments have fallen significantly compared to the exceptional financial year of 2022/23, significant purchases of receivables in the double or triple-digit million range have confirmed the strong market position, Hecking-Veltman adds. “For this reason, the purchase of receivables portfolios will also remain a key focus area of the EOS Group in the future.”
On August 1, 2024, Hecking-Veltman left the company to pursue other challenges. His successor will be Dr. Eva Griewel, who has a PhD in economics.
Eastern Europe slightly exceeds last year’s sales level
With a share of 41.9 percent in overall sales, Eastern Europe is the strongest performing region within the EOS Group. Particularly the companies in Bosnia and Herzegovina, Bulgaria, Greece, and Poland were able to achieve significant increases in sales. Despite rising interest rates, investments amounting to EUR 212.5 million were made. “This is thanks to all our colleagues who have left their comfort zone to break new ground,” says Carsten Tidow, who is responsible for the region of Eastern Europe on the Executive Board.
Western Europe’s growth the strongest with sales up 6.9 percent
At EUR 323.4 million (32.4 percent of total sales), sales in the region of Western Europe increased the most compared to the other regions of the EOS Group (6.9 percent in all). According to Sebastian Pollmer, responsible for the region of Western Europe since the beginning of the 2024/25 financial year, the successful management of existing receivables portfolios is the main reason for this positive development. Deserving special mention is the company in France, whose financial performance has been particularly strong. Together with a co-investor, EOS France purchased a record portfolio with a nominal value of EUR 364 million. The companies in Denmark and Portugal, the latter already established on the market after two short years, have also made a valuable contribution to the increase in sales, Pollmer goes on to say.
Germany at the previous year’s level
On the German market, the EOS Group recorded no changes compared to the previous year, with a 25.5 percent share in sales. The competitive situation is still challenging here. Restructuring measures, such as the newly established region of Central Europe, which Germany has been part of since the start of the 2024/25 financial year, “are beginning to bear fruit,” says Stephan Ohlmeyer, who has been responsible for the new region since March 2024.
Sustainability back in focus
The EOS Group also stood out in the previous financial year for reasons other than its strong business figures. The international group received an outstanding ESG risk rating in 2023. “According to renowned rating agency Morningstar Sustainalytics, EOS is one of the top 3 companies in our ‘Consumer Finance’ sector,” says Marwin Ramcke. “I’m very proud of this rating. Achieving a top position the very first try proves that our corporate responsibility strategy is a success.”
With its annual and sustainability report based on the standards of the Global Reporting Initiative (GRI), EOS makes clear what the Group is achieving in this area. For example, a gender pay gap analysis comparing the salaries of men and women was initiated for the first time. In addition, the company has also calculated its own CO2 footprint (Scope 1 & 2). “We will continue to advance these initiatives during this financial year and derive targeted measures from them, such as for reducing emissions,” Ramcke stresses.
Moreover, the corporate responsibility strategy is firmly anchored in the EOS Group’s core business as well. Responsible debt collection and sustainable debt relief for defaulting consumers are of central interest to EOS. For instance, the Group successfully concluded more than five million debt cases over the last financial year, helping defaulting consumers and returning around EUR 1.9 billion to the economic cycle.
With its annual and sustainability report based on the standards of the Global Reporting Initiative (GRI), EOS makes clear what the Group is achieving in this area. For example, a gender pay gap analysis comparing the salaries of men and women was initiated for the first time. In addition, the company has also calculated its own CO2 footprint (Scope 1 & 2). “We will continue to advance these initiatives during this financial year and derive targeted measures from them, such as for reducing emissions,” Ramcke stresses.
Moreover, the corporate responsibility strategy is firmly anchored in the EOS Group’s core business as well. Responsible debt collection and sustainable debt relief for defaulting consumers are of central interest to EOS. For instance, the Group successfully concluded more than five million debt cases over the last financial year, helping defaulting consumers and returning around EUR 1.9 billion to the economic cycle.
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With more than 50 years of experience and offices in over 20 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of the Otto Group.
For more information on the EOS Group, please go to: https://eos-solutions.com/
For more information on the EOS Group, please go to: https://eos-solutions.com/
Change in the Board of Directors of the EOS Group
The EOS Group is about to make changes to its management team: Justus Hecking-Veltman, CFO and Managing Director of EOS Holding GmbH, will leave the company on August 1, 2024 to take on other challenges. His successor will be Dr Eva Griewel, who holds a doctorate in economics.Justus Hecking-Veltman, 56, began his career in the Otto Group in 1994 in Group Controlling. In 1998, he moved to OTTO, where he was most recently Director of Controlling and Accounting. He has been Chief Financial Officer of EOS since 2007.
"I would like to thank Justus Hecking-Veltman most sincerely for his successful work as CFO of the EOS Group. He has made a significant contribution to the fact that the Group has grown many times over during his term of office and has reliably generated very high earnings contributions for the Otto Group. I am pleased that Justus Hecking-Veltman will remain associated with the Otto Group and will continue his work as a freelancer on the advisory boards of Frankonia and Systain," says Petra Scharner-Wolff, Group Executive Board Member for Finance, Controlling and Human Resources.
Justus Hecking-Veltman sums up: "I can look back on 17 great and successful years at EOS. I would like to thank all my colleagues in the EOS Group and also in the Otto Group for the trusting cooperation and Petra Scharner-Wolff and Alexander Birken for the confidence they have placed in me. At the same time, I wish my successor Dr. Eva Griewel all the best and a lucky hand in her new role."
The successor to the CFO position is very familiar with EOS. Eva Griewel, 46, who holds a PHD in economics, initially started her career at Deloitte. She then worked at EOS from 2008 to 2020, first as an assistant to the CEO and later as SVP of Division Management Western Europe. After taking parental leave, she joined the Hamburg-based Buss Group as CFO in 2022. "I am delighted to be returning to EOS and to have the trust placed in me to continue writing this impressive success story," says Griewel. "There is still a lot of potential in the Group and, together with the team, I would like to make a significant contribution to further profitable growth in these extremely challenging times."
Petra Scharner-Wolff emphasises: "In Dr. Eva Griewel, we have gained an experienced financial expert for the EOS Board of Directors who has known the company for many years. These are the best prerequisites for the continued successful development of the EOS Group.”
About EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With over 50 years of experience and offices in more than 20 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group. For more information on the EOS Group, please go to: eos-solutions.com
EOS Group, IFC Partner to Resolve Non-Performing Loans, Boost Lending in Poland
- New €275 million facility to purchase and resolve NPLs in Poland
- Project will build resilience of banking sector and foster new lending
- Strong focus on environmental, social and governance aspects
Co-funded by IFC and EOS Group (EOS), the new facility focuses on the acquisition and resolution of non-performing loans of retail clients, small and medium enterprises, and real estate-owned assets (REOs) held by financial institutions in Poland. The new facility incorporates environmental and social standards into its NPL resolution practices, in line with IFC's Performance Standards. These include objectives such as preventing environmental damage when working with real estate, ensuring borrowers are treated fairly and responsibly.
"Together with our partner IFC, we are delighted to be able to expand our cooperation in the important NPL market in Poland and thus strengthen our activities as a sustainable investor," said Carsten Tidow, Managing Director of the EOS Group and responsible for Eastern Europe. "As one of the largest and most active NPL markets in Eastern Europe, Poland is a particular focus for EOS. In addition to the positive contribution to the Polish economy, the consideration of environmental, social and governance aspects continues to play a major role in the selection and resolution of NPLs."
The new facility is part of IFC’s Distressed Asset Recovery Program (DARP), which focuses on the acquisition and resolution of distressed assets across emerging markets. The $9.1 billion global investment program includes commitments of $3.2 billion on IFC’s account and $5.9 billion mobilized from private sector investors.
The project will be the third engagement of IFC and EOS, following the creation of a facility in 2010 to purchase and resolve unsecured retail NPL portfolios, and a €129 million regional facility to help financial institutions resolve their NPLs in Bosnia and Herzegovina, Croatia, Romania, and Serbia in 2022.
"IFC is a market leader in distressed asset acquisition and resolution in emerging markets,” said Ariane di Iorio, Global Head of Distressed Assets Investments at IFC. “By supporting distressed assets markets in our target countries sustainably and ethically, we help financial institutions return to their core lending businesses and normalize NPLs so borrowers can become creditworthy again.”
“Ethical debt collection has always been at the core of our business, thus integrating sustainable investment into our processes is a natural next step,” said Dariusz Petynka, Managing Director of EOS Poland. EOS has been active in the NPL market in Poland for over 25 years. “Over the past few years, we have been fortunate to make very significant investments in NPL portfolios in Poland. The cooperation with IFC will allow us to strengthen our position as one of the leading players in the Polish market,” said Borys Drajczyk, Member of the Management Board, Chief Investment and Technology Officer at EOS Poland.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org
About EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With over 50 years of experience and offices in more than 20 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group. For more information on the EOS Group, please go to: eos-solutions.com
About EOS Poland
EOS Poland is a team of experts specializing in the purchase and management of receivables. Using modern technological solutions, we provide financial services tailored to the needs of both our business partners and defaulting payers. We help to recover debts effectively, professionally and with due respect for ethical principles. We have been present on the Polish market since 1998. As a member of the Association of Financial Enterprises in Poland, we operate in accordance with the Good Practice Principles. For more information on EOS Poland, please go to: eos-poland.pl
Veld Capital and EOS Group acquire €364 Million French consumer loan portfolio
Veld Capital, a leading European specialist private credit investor, together with the EOS Group, are delighted to announce the purchase of a portfolio of regulated French consumer loans from BNP Paribas Personal Finance. The €364 Million (nominal value) portfolio is highly granular in nature, containing over 125,000 small balance French consumer loans with an average balance of under €3,000.The portfolio acquired has strong, stable cash flow from amortising loans with affordable monthly payments and a weighted average seasoning of over two years. As a result of these characteristics, the underlying assets demonstrate high payment predictability and stability. The assets were purchased outright by a securitisation vehicle funded jointly by Veld and EOS, with the servicing being migrated to EOS for management.
Following this transaction, Veld and EOS have further strengthened their operating partnership, having previously co-invested together in a number of European jurisdictions and asset types. EOS France, a subsidiary of the international EOS Group, is a leading expert in the purchase and servicing of receivables portfolios with more than 30 years of experience within the French market.
The portfolio was acquired from BNP Paribas Personal Finance, a wholly owned subsidiary of the BNP Paribas Group, and a major consumer finance player in both France and Europe, offering a wide range of consumer credit products.
Leveraging extensive relationships and product expertise developed as a solutions provider to European banks over its 14-year history, Veld (previously AnaCap Credit) primarily targets granular, amortising and asset-backed investment opportunities, benefiting from data-rich underwriting where it can utilise internal expertise as well as comparable proprietary data. Approximately 80% of Veld’s investments since inception have been with banks and financial institutions as counterparties, often as part of repeat transactions, providing credibility and transaction certainty.
Nathalie Lameyre, Chief Executive Officer at EOS France, commented:
“We are very happy to have been able to finalise, with the support of Veld, the largest sale of consumer credit receivables ever carried out in France. This success is the result of many years of partnership and trust between BNP Paribas Personal Finance and EOS, in Europe and particularly in France.”
Konstantin Karchinov, Partner at Veld Capital, added:
“It has been a pleasure to be involved in this transaction, the Fund’s first investment in French consumer loans. Both the French market and our strong relationship with EOS are key sources of high potential opportunities in 2024 as Veld launches its fifth flagship Credit Opportunities fund.”
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With over 50 years of experience and offices in more than 20 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
About Veld Capital
Established in 2009 as the credit investment arm of AnaCap Financial Partners, Veld Capital initially targeted non-core assets from financial institutions across Europe. Consistently an early mover across geographies and asset types, today Veld Capital targets a broad range of highly cash generative and asset-backed investments.
Veld Capital seeks out exceptional opportunities by combining localised origination, underwriting and asset management expertise to provide solutions in the mid-market. Our credit-oriented investment philosophy is underpinned by a rigorous, data driven approach to underwriting, preservation of capital and actively engaged asset management.
Since 2009, Veld Capital has raised ~€2.7bn of capital across its flagship Credit Opportunities, Real Estate and permanent capital vehicles from a growing base of highly reputable institutional investors globally. www.veldcap.com
Hamburg, Germany, December 15, 2023
The EOS Group has won two Red Dot Awards 2023 in the Corporate Design and Typography categories. In spring 2022, the international financial services provider unveiled its new brand identity, which has now been honoured.
"We are thrilled to receive this award. The Red Dot Award is an incredible acknowledgement of our work," says Lara Flemming, Senior Vice President Communications & Marketing at EOS Holding GmbH. " Many of our colleagues made the relaunch possible and contributed to the successful transformation of our brand. This award belongs to them all."
The clear and dynamic design positions EOS at various touchpoints as a modern player in the European receivables management market. "We actively create change at EOS. With the relaunch, it was therefore crucial to show this attitude visually," says Lara Flemming.
The rollout of the new brand was made possible in various workstreams with colleagues in 24 countries. EOS received support for the brand relaunch from the Hamburg-based design agency Syndicate.
The Red Dot is one of the most prestigious awards for design quality. The international jury of the Red Dot Award Brands & Communication Design only awards this seal of quality to projects that impress them with their good design quality and creative performance in various categories. Further information on the award-winning EOS design projects: www.red-dot.org/eos-holding
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With around 50 years of experience and offices in 24 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
For more information on EOS Group, please go to: eos-solutions.com
EOS Group gets top place in ESG rating
- Excellent ESG risk rating validates EOS Group’s sustainability strategy
- EOS is among the top two percent in its own segment
- First external rating to assess sustainability risks by rating agency Morningstar Sustainalytics
EOS was assessed in the categories “Human Capital”, “Product Governance”, “Data Privacy and Security”, “Corporate Governance” and “Business Ethics”. At 10.2, EOS only just fell short of the best category (0 to 10, negligible risk) on a rating scale of 0 to 40+.
“Become a little better every day”
“We want to change things for the better, day by day. This independent ESG rating makes our contribution to sustainable development transparent,” says Marwin Ramcke, CEO of the EOS Group. “Getting this top position right away shows that our corporate responsibility strategy is successful and that we are very well positioned in a lot of areas. This result is also an incentive to continue to become a little better every day,” Ramcke continues.
Transparency for more sustainability
Morningstar Sustainalytics is a leading company for ESG research, ratings and data. The ESG risk ratings by Morningstar Sustainalytics measure how well companies manage the main sector-specific ESG risks. ESG stands for Environment, Social and Governance.
Not only did EOS receive a sustainability rating from a rating agency for the first time this year, it also published a combined annual and sustainability report according to the Global Reporting Initiative (GRI) standard.
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With around 50 years of experience and offices in 24 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
For more information on the EOS Group, please go to: eos-solutions.com
For more details on the rating and the methodology applied, go to: https://www.sustainalytics.com/esg-rating/eos-holding-gmbh/2000170330
Hamburg, Germany, October 24, 2023
In the course of its successful internationalization strategy, EOS Holding GmbH, Hamburg, is reorganizing its regional responsibilities: At the beginning of the coming financial year on 1 March 2024, the German market will be merged into the new Central Europe region. In addition to Eastern and Western Europe, this will create another high-growth region with the markets of Germany, Austria, Switzerland, Slovakia, Slovenia, the Czech Republic and Hungary.
In the course of this restructuring, a number of changes have been decided in the management team of the Otto Group's financial services provider: Dr. Stephan Ohlmeyer (55), a proven financial expert and insider of the industry, will join the Group on 1 November 2023. After a four-month handover period by the current Managing Director of Germany, Andreas Kropp (56), Ohlmeyer will take over the region Central Europe. After around 20 years in various management positions at the Otto Group, Andreas Kropp will in future be taking on new tasks outside the EOS Group at his own request.
"We would like to thank Andreas Kropp for his many years of commitment to EOS in a highly developed, important market for the Group," says Petra Scharner-Wolff, Group Executive Board Member for Finance, Controlling and Human Resources at the Otto Group. "Now the task is to build up the Central Europe region. With Dr. Stephan Ohlmeyer, we have found the ideal person for this task at EOS. He has been a companion in the industry for many years. His view from the outside together with his outstanding expertise as a financial expert bring new impulses at the right time."
Dr Stephan Ohlmeyer is regarded as an internationally renowned portfolio manager. After holding positions at Goldman Sachs, Morgan Stanley, Lone Star and investment firms such as Intrum and Hoist, he wants to bring his expertise to the company for the next growth steps. "Ideal conditions were created for me to join the company: With the support of Andreas Kropp and the board colleagues from Western and Eastern Europe, I can build up the necessary internal know-how for the various markets in the coming months. Together with my international experience, we will quickly move the Central Europe region forward," says Ohlmeyer.
Further changes in the top management of the Group will also be implemented on 1 March 2024: The Managing Director of the Western Europe region, Dr. Andreas Witzig will leave the Executive Board at the end of the financial year after 17 years. The 57-year-old lawyer looks back on a career of around 20 years in leading positions in the Otto Group.
"Dr. Andreas Witzig has been able to develop the Western Europe region excellently over the past years. I would like to thank him very much for this. With Sebastian Pollmer, a great talent of the younger generation is taking over who has already become intensively acquainted with the markets", explains Petra Scharner-Wolff, Group Executive Board Member for Finance, Controlling and Human Resources of the Otto Group.
Sebastian Pollmer, Senior Vice President for the Region, will succeed as the new Managing Director of the Western Europe Region. The 39-year-old has gained outstanding expertise in the field of NPL transactions and evaluations after holding positions at Norddeutsche Landesbank and KPMG since 2016. "I am very pleased about the trust placed in me. There is still a lot of potential in the Western Europe region. From March 2024, my team and I will focus primarily on leveraging precisely this potential, especially in the area of digitalisation," he says.
"In these rapidly changing times and numerous uncertainties in the economy and politics, it is becoming increasingly important to consistently adapt as a company and to map diverse skills in the management team," Scharner-Wolff summarises. "I am convinced that with the current changes we are taking the right development step into the future, which will ensure the success of the Otto Group."
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With around 50 years of experience and offices in 24 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
For more information on EOS Group, please go to: eos-solutions.com
Hamburg, Germany, July 26, 2023
- Significant increase in investment volume in Eastern and Western Europe
- Even stronger focus on international collaboration and digitalization
- Corporate Responsibility (CR): Combined Annual and Sustainability Report based on Global Reporting Initiative (GRI) standards for first time
Outstanding operating performance
The expert processing of existing NPL portfolios (non-performing loans) from previous years also contributed to the increase in earnings and revenue in fiscal 2022/23. Marwin Ramcke, CEO of the EOS Group, had this to say: “Given the international political and macroeconomic situation at the beginning of the financial year, this kind of growth was not foreseeable. That we were able to achieve such a result in these turbulent times is due in particular to the dedication of our around 6,000 employees.”
The broad positioning of the EOS Group with 24 national subsidiaries in Europe has also had a positive impact on the overall result, says Justus Hecking-Veltman, CFO of the EOS Group. “Our diversification gives us enormous stability as a group of companies. We are not dependent on individual markets. Our longstanding expertise as a purchaser of NPL portfolios, but also our patience in certain markets, have paid dividends in this financial year,” says Hecking-Veltman.
The broad positioning of the EOS Group with 24 national subsidiaries in Europe has also had a positive impact on the overall result, says Justus Hecking-Veltman, CFO of the EOS Group. “Our diversification gives us enormous stability as a group of companies. We are not dependent on individual markets. Our longstanding expertise as a purchaser of NPL portfolios, but also our patience in certain markets, have paid dividends in this financial year,” says Hecking-Veltman.
Eastern Europe builds on previous year with high investment level
With a share of 42 percent, Eastern Europe is the strongest performing region within the EOS Consolidated. Compared with the previous year, the Eastern European subsidiaries were even able to increase their revenue by around 50 percent. “With an investment volume of around EUR 400 million, we were also able to build on our high figures from the year before,” says Carsten Tidow, the member of the Board responsible for Eastern Europe. This is exemplified not just by the renewed high investments in Greece, Poland and Croatia, but also by a small country like Bosnia and Herzegovina, where the secured NPL portfolio business was heavily expanded.
Western Europe quadruples investment volume
At EUR 612 million, the EOS Consolidated managed to more than quadruple its investment volume in Western Europe. This is attributable above all to the markets in France and Spain, says Dr. Andreas Witzig, member of the Board with responsibility for Western Europe. In this conjunction, Portugal is also of particular note: “Although our company there was only founded in 2022, today more than 20 colleagues are active in the Portuguese NPL market and have been able to complete their first NPL purchases.” The implementation of Kollecto+, the Group’s own debt collection software, which is already in use in eight EOS countries and creates relevant synergies, also contributed to the company’s good start.
High competitive pressures in Germany
In the German market, the EOS Consolidated recorded a decline in revenue. The main reason for this was the intense competition, says Andreas Kropp, Managing Director EOS Germany. “The German NPL market is the most established of all NPL markets we operate in as a Group. There are a lot of competitors on the market that ensure a high price level for the debt portfolios. Being connected to our own debt collection system Kollecto+ is an important step for us, allowing us to become more efficient and improve our competitiveness,” Kropp continues.
“Debt collection means taking responsibility”
For the first time, the EOS Group has published a combined annual report and sustainability report. It is based on the standards of the Global Reporting Initiative (GRI) and shows how EOS supports the UN’s sustainability goals.
“We have always said that debt collection means taking responsibility, so corporate responsibility has therefore long since been a major issue for us,” stresses CEO Marwin Ramcke. “We strive to become a little better every day. In this context, the GRI standards help us to make transparent how sustainable our actions are and what we are achieving in this area.” According to Andreas Kropp, this is not just a matter of traditional environmental issues. The fair treatment of defaulting consumers also plays a major role. “We want to help them become debt-free as quickly as possible. To this end we offer various services that allow people to pay anonymously at any time. In our German service portal, consumers can also set their own installment rates.”
“We have always said that debt collection means taking responsibility, so corporate responsibility has therefore long since been a major issue for us,” stresses CEO Marwin Ramcke. “We strive to become a little better every day. In this context, the GRI standards help us to make transparent how sustainable our actions are and what we are achieving in this area.” According to Andreas Kropp, this is not just a matter of traditional environmental issues. The fair treatment of defaulting consumers also plays a major role. “We want to help them become debt-free as quickly as possible. To this end we offer various services that allow people to pay anonymously at any time. In our German service portal, consumers can also set their own installment rates.”
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With around 50 years of experience and offices in 24 countries, EOS offers smart services for receivables management worldwide. Its key target sectors are banking, real estate, telecommunications, utilities, and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
For more information on the EOS Group, please go to: eos-solutions.com
For more information on the EOS Group, please go to: eos-solutions.com
Hamburg, Germany, June 7, 2023
- EOS receives the German Award for Sustainability Projects in recognition of the non-profit finlit foundation
- Jury won over by the educational concept for handling money and debt
- The financial education initiative “ManoMoneta” is already being implemented at elementary schools
The EOS Group has received the German Award for Sustainability Projects in recognition of the finlit foundation – a non-profit corporation. In the “Non-profit initiative” category, the jury acknowledged the commitment demonstrated by the foundation in helping to prevent excessive personal debt by teaching financial skills.
“It is important to talk about money, finances, and debt, but even more important to improve financial education, which is why we have established the non-profit finlit foundation. The German Award for Sustainability Projects confirms that our commitment is paying off and we are on the right track,” says Marwin Ramcke, CEO of the EOS Group.
The finlit foundation, which was launched on the initiative of EOS employees, has been campaigning for better financial education in everyday life, and opposing excessive personal debt, since 2019. “Our aim is to help people to help themselves as early as possible, which is why we start in elementary school. Reading, writing, and arithmetic are undisputed life skills – and handling money should also count as such,” summarizes Sebastian Richter, Managing Director of finlit.
The finlit foundation has reached out to almost 100,000 children in grades 3 to 6 with its first financial education initiative ManoMeta, the contents of which are consciously addressed at pupils. “We need to be aware of the world in which young people operate, and link money and finances to things that interest them, such as social media or games. “We have tailored the contents of our initiative to strongly reflect the everyday lives of children,” says Richter.
The teaching materials, which can be ordered or downloaded by interested teachers free of charge (www.manomoneta.de), impart financial knowledge on the basis of six everyday topics – Media, Consumption, Work, Household, Global Finance, and Living, and are essentially geared toward child participation. Questions such as “How much does a pet cost?” or analyzing the tasks involved in breaking down the monthly budget allow the subject of money to be addressed using modern teaching methods. In addition to analog elements, the program also includes a digital learning platform.
The finlit foundation is already starting to roll out ManoMoneta on an international scale; following the launch of the initiative in the Czech Republic last year, Slovakia, Slovenia, and Spain are now set to follow suit this year.
The German Award for Sustainability Projects 2023 was presented on June 6 in Berlin by the German Institute for Service Quality, the ntv news channel, and the DUP UNTERNEHMER magazine. The patron of the award is former Federal Minister, Brigitte Zypries. The aim of the award is to make sustainable commitment visible across various industries and levels, and, in doing so, to inspire other companies and institutions to launch their own sustainable projects.
About the finlit foundation
The finlit foundation GmbH is part of the EOS Group and was established in November 2019 on the initiative of employees. The aim of the non-profit corporation is to contribute toward financial education and thereby prevent excessive debt by engaging in social responsibility. The finlit foundation is largely financed by the EOS Group. For more information on the finlit foundation, please go to: www.finlit.foundation
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With over 45 years of experience, EOS offers customers in 24 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, real estate, telecommunications, utilities and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
For more information on EOS Group, please go to: eos-solutions.com
Press contact
Lara Flemming
Senior Vice President Corporate Communications & Marketing
EOS Holding GmbH
Corporate Communications & Marketing
Steindamm 71
20099 Hamburg
Sarah El Jobeili
Corporate Communications & Marketing EOS Group
EOS Holding GmbH
Corporate Communications & Marketing
Steindamm 71
20099 Hamburg
Germany