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Hamburg, November 30, 2022

• Majority of European companies see sustainability as a trend in receivables management
• Sustainability strategy a criterion for awarding contracts to business partners

For companies, sustainability is becoming increasingly relevant. A good half (51 percent) of European financial executives think that sustainable practices will be one of the key trends in receivables management in the next two years. At the same time, by their own admission, only 31 percent of European firms are currently implementing sustainable practices in this area. In Germany it is even fewer, at 29 percent. These were some of the insights from the representative EOS Survey “European Payment Practices” 2022, which polled 3,200 companies in 16 European countries.

Sustainability is about more than just conventional environmental protection 

Two out of three companies in Europe confirm that they generally assume social and ecological responsibility. However, sustainability is often reduced to issues of climate and environmental protection only. According to the survey, only 46 percent of European companies associate a solution-driven approach to defaulting consumers with sustainable practices. In Germany the proportion is 44 percent.

“Most companies have long since recognized that sustainability is a success factor for their future development. At the same time, the receivables management sector is only gradually coming to realize that a fair and individualized approach to defaulting consumers is crucial,” explains Julius Reuting, EOS Group expert in corporate responsibility (CR). “Moreover, we are finding that when customers are awarding debt collection contracts, they are increasingly looking at whether the service provider exercises social responsibility and has a good reputation.”

Sustainability strategy a decisive criterion for awarding contracts

Half of the European companies polled stated that they took the sustainability strategies of potential business partners into account when deciding to award a contract. This is also the case in Germany, where 52 percent of companies check the sustainability strategies of potential partners before they decide to work with them. In addition, 77 percent of respondents are basically in favor of companies being more sustainable.

About the EOS Survey “European Payment Practices” 

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,200 companies in 16 European countries between March 4 and April 19, 2022, to ask them about the prevailing payment practices in their respective locations. In the spring of 2022, 200 companies (each with an annual turnover of more than EUR 5 million) in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. This is the 13th time that EOS has conducted the survey.

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 some 20,000 customers in 25 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: www.eos-solutions.com

Contact for press and media
Daniel Schenk, Team Lead Corporate Communications German Market 
Marc Heuer, Corporate Communications & Marketing EOS Group 
 
E-Mail: [email protected]
Tel: +49 40 2850 1222

Hamburg, Germany, November 7, 2022

• EOS Group makes a significant investment in an unsecured loan portfolio since the reopening of the NPL market in Greece 
• Substantial single investment by EOS Group as sole investor with an investment volume of more than €100 million

The EOS Group has invested in its first more than €100 million portfolio of unsecured receivables following the reopening of the NPL market in Greece. EOS is partnering with loan and real estate management company doValue Greece for support with the management of the portfolio.

The investment by the EOS Group, titled Project Virgo, is into an unsecured sub-portfolio out of Frontier 1 securitization. “This represents a substantial investment by the EOS Group in one of the largest NPL markets in Europe,” said Carsten Tidow, member of the EOS Group’s Board of Directors with responsibility for the Eastern European region. “We are extremely pleased to have made this investment and confident about the ongoing development of our activities in Greece.” The closing of this deal also underscored the group’s own aspiration to be a reliable partner and key player in the Greek market in future, added Tidow.

“This deal has already changed the visibility of EOS on the Greek NPL market”, said Anthony Messados, Managing Director of EOS Greece. The investment of the EOS Group as sole investor was raising great expectations that now need to be translated into a solid success story, Messados continued. 

The EOS Group has already been operating on the Greek NPL market through its own local subsidiary, EOS Greece, since 2005. In conjunction with the processing of the Virgo portfolio, doValue Greece will provide support in the asset management field for a transitional period. “We are delighted to be collaborating with an experienced asset manager on the Greek market,” said Philipp Schuemann, Senior Manager in Division Management Eastern Europe at EOS Group.

About doValue Greece

do Value Greece, is a member of the doValue S.p.A. Group and holds a leading position as an independent loan and real estate management company in Greece and a growth hub in Southeast Europe. At Group level, doValue is a leader in the management of non-performing loans and real estate in South Europe, following the acquisition of the Spanish Altamira Asset Management, and is the largest non-performing exposures management company, NPL and UTP in the Italian market. doValue, having a deep knowledge of all kinds of credit exposures in all phases of their cycle, while operating across the NPLs management range at the level of strategy development, decision making and support services, in collaboration with a network of international consulting firms, real estate appraisers, brokers and lawyers. doValue Greece, at the forefront of the Greek market, combines in its activities the advantages of the existing platform and the specialized know-how of its staff with the best practices of doValue and its experience in managing loans, credits and real estate in Italy, Spain, Portugal, Greece and Cyprus.

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 some 20,000 customers in 25 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: www.eos-solutions.com

Contact for press and media:
Sarah El Jobeili, Corporate Communications & Marketing EOS Group
Email: [email protected]
Tel: +49 40 2850 1222

Hamburg, October 19, 2022

• EOS survey shows that the number of companies that have fully digitalized their dunning processes has increased by a mere four percent
• Majority of companies only partly digitalized

Due to the pandemic, one in three companies in Europe is experiencing an increase in receivables management workload. At the same time, the proportion of companies that have fully digitalized their dunning processes has only gone up slightly since 2019. Just one out of five European companies has completely digitalized their receivables management. These were some of the findings from the meanwhile 13th representative EOS Survey “European Payment Practices”, which polled 3,200 companies in 16 European countries.

Digitalization improves repayment rate

Whereas in 2019, 16 percent of invoices were paid late or not paid at all by private customers, this figure had gone up to 20 percent by 2022. Although more and more companies were relying on digitized dunning processes during the pandemic to deal with the increased workload, there were still far too few overall. According to the survey, just 21 percent of companies in Europe have a fully digitalized dunning process and 36 percent are only partly digitalized. This is despite the fact that digital processes already help achieve a lower error rate and provide companies with the basis for approaching their customers individually and at the right time, explains Michaela Homann, Head of Customer Communications at EOS in Germany. “In our experience, defaulting consumers want to make payments quickly, using digital means and without a lot of effort,” says Homann. “Linking technology with the perspective of the defaulting consumers improves repayment rates. This means that in the majority of email inquiries we can already identify the issues of concern in a fully automated process, making it easier for our experts to respond to complex queries,” Homann continues.

“There’s still a lot to be done”

In the light of the economic forecasts in the euro zone and worsening payment practices, Justus Hecking-Veltman, Member of the EOS Group’s Board of Directors and CFO, recommends that companies continue to push the digitalization process: “Companies need to stay the course and further digitalize their receivables management to reduce payment defaults.” One obstacle to introducing digital processes might be the initially high financial outlay, says the EOS financial expert. In this context, the outsourcing of specific processes can make sense. “In fiscal 2021/22 alone, EOS invested around EUR 20 million in the upgrading of its core debt collection systems and in innovative technologies. This allowed us to further improve the service we offer to companies and defaulting consumers.”

About the EOS Survey “European Payment Practices” 

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,200 companies in 16 European countries between March 4 and April 19, 2022, to ask them about the prevailing payment practices in their respective locations. In the spring of 2022, 200 companies (each with an annual turnover of more than EUR 5 million) in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. This is the 13th time that EOS has conducted the survey. Find out more on our study website.

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 45 years of experience, EOS offers some 20,000 customers in 25 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: www.eos-solutions.com

Contact for press and media
Sarah El Jobeili, Corporate Communications & Marketing EOS Group
Email: [email protected]
Tel: +49 40 2850 1222

Hamburg, October 6, 2022

• Almost one in four companies expects payment practices to deteriorate
• In Western Europe, every fifth invoice is paid late, in Eastern Europe as many as one in four.

Payment practices in Europe have deteriorated in the last three years: At around one in five companies, this development is leading to fears about viability. These were some of the findings from the meanwhile 13th representative EOS Survey “European Payment Practices”, which polled 3,200 companies in 16 European countries.

Although companies had been offering extended payment terms, private customers in particular were paying their bills 19 days late on average. Compared with the previous survey from 2019, where 16 percent of invoices were paid late or not paid at all by private customers, this figure had risen to 20 percent in the current survey. The companies polled cited short-term cash flow problems on the part of their customers as the main reason for these poor payment practices.

The main consequences of these payment delays and backlogs were that companies had to deal with their own liquidity issues (42 percent) and profit shortfalls (51 percent). To compensate, around a third of companies had to reduce their investments and raise prices. Accordingly, companies have a bleak view of the future. Whereas in 2019, 22 percent of survey respondents still assumed that payment practices would improve, 24 percent of the current respondents believe that they are going to get even worse. Especially in Denmark, Switzerland, Slovakia, the Czech Republic, Slovenia and Bulgaria, the forecasts were particularly subdued. “It is concerning that payment practices have deteriorated significantly, especially because in the light of the current economic figures and high inflation we have to expect a further decline in payment behaviour,” says Marwin Ramcke, CEO of the EOS Group.

Professionalization in receivables management

More and more companies are working with external receivables management service providers to recover debts. “Lack of liquidity is one of the most common causes of insolvency and the loss of jobs.” European companies should therefore continue to professionalize their receivables management and look into working with external partners, Ramcke recommends.  

Eastern Europe is a particular front runner when it comes to professionalizing receivables management. Around half of the companies in the region are already relying on the support of external specialists. “Especially in view of the challenging economic figures, debt collection providers offer valuable support to companies and the economic system, because they restore liquidity,” says Christina Schulz, who heads Division Management Eastern Europe at EOS. 

Increase in digital payment methods 

At the same time, expanding the digital payment methods they offer is becoming increasingly relevant for companies. Since 2019, there has been a significant raise in the availability of such options in Eastern and Western Europe, with companies in Eastern Europe almost doubling their digital payment offerings with an increase of 20 percentage points. The payment method “Buy Now, Pay Later” (BNPL) is also gaining ground: four out of ten European companies regard this payment method as the new credit card and a must in the range of payment options offered.

About the EOS Survey “European Payment Practices” 

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,200 companies in 16 European countries between March 4 and April 19, 2022, to ask them about the prevailing payment practices in their respective locations. 200 companies (each with an annual turnover of more than EUR 5 million) in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. This is the 13th time that EOS has conducted the survey.

Contact for press and media:
Sarah El Jobeili, Corporate Communications & Marketing EOS Group
Email: [email protected]
Tel: +49 40 2850 1222

Hamburg, Germany, September 21, 2022

• Acquisition and processing of non-performing loans in Croatia, Serbia, Bosnia and Herzegovina and Romania
• Investment volume: EUR 129 million over three years
• Strong consideration given to environmental, social and governance factors

The International Finance Corporation (IFC), a member of the World Bank Group and the world's largest development institution focused on the private sector in emerging markets, and the EOS Group are stepping up their cooperation in the field of non-performing loans (NPL). With Croatia, Serbia, Bosnia and Herzegovina and Romania, the focus is on Eastern European countries, which have particular investment needs in accordance with the IFC criteria. The cooperation forms part of a recently established joint investment vehicle; the investment volume from EOS and IFC will amount to EUR 129 million over three years. EOS and the IFC have already been cooperating in the purchase and processing of NPLs in other markets since 2010.

“With this cooperation, we are strengthening our business in Eastern Europe and intensifying our activities as a sustainable investor on the NPL market,” emphasizes Carsten Tidow, Member of the EOS Group's Board of Directors responsible for Eastern Europe. “Of particular note is the consideration of environmental, social and governance factors in the selection and processing of NPLs. As a member of the Otto Group, we have placed sustainable economic activity at the heart of our work for a long time.” Within the project, goals such as the prevention of environmental damage in our work with property, ensuring the fair and socially responsible treatment of borrowers and the protection of cultural goods, for example, are just as important as the operational and financial goals.

EOS has been active in the NPL market in Croatia, Bosnia and Herzegovina and Romania for more than ten years. Together with the IFC, the company invests, as part of the cooperation, in mortgage-backed, non-performing loans to SMEs and individuals, and takes over the asset management of NPLs and mortgages.

The banks or investors receive liquidity through the sale of NPLs and real estate in order to finance new loans or projects. At the same time, the cooperation between EOS and IFC makes it easier to normalize the liabilities of defaulting consumers. Playing a significant role in supporting and promoting the economy in the target countries of the cooperation is therefore a key aim of the cooperation.

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 2022, IFC committed a record $32.8 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 the EOS Group

The EOS Group is a leading technology-driven investor and service provider in the receivables management industry. With over 45 years of experience, EOS offers some 20,000 customers in 25 countries (as of: fiscal year 2022/23) 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 the Otto Group.

For more information on EOS Group, please visit eos-solutions.com

Contact for press and media:
Marc Heuer, Corporate Communications & Marketing EOS Group
Email: [email protected]
Tel: +49 40 2850 1222

• Major progress in move to become a fully digitalized Group
• Record-breaking year for receivables purchasing with total €669 million invested in NPLs and real estate

Hamburg, Germany, July 20, 2022 – collection service provider with headquarters in Hamburg, had a positive, stable performance even in what was a turbulent 2021/22 financial year. Despite the pandemic and an increasingly aggressive market environment, the consolidated revenue of the Group could be increased by 1.6 percent. Total earnings before interest, taxes, depreciation and amortization (EBITDA) were €282.5 million, representing a slight decline compared with the previous year (€312.4 million). This was due primarily to the war in Ukraine and the precautionary accounting measures taken by EOS in this context. Nevertheless, the verdict on the entire financial year is a positive one, because all 24 countries where EOS operates once again recorded a strong operating performance.

“We owe last year’s success primarily to our more than 6,000 employees. Every single day, and in what are volatile times, they make EOS a more dynamic and digital place,” says Marwin Ramcke, CEO of the EOS Group. “The last financial year was characterized above all by three factors: Firstly, we were able to build on our core areas of expertise in the purchase and processing of non-performing receivables while reinforcing our status as experts in this field. This was complemented by the outstanding international and cross-border cooperation between our companies in 24 countries. And lastly, increasing automation allowed us to constantly improve our business processes. In what was a challenging year, these are achievements that we as a team can be very proud of,” Ramcke continues.

EOS reinforces leading position and pushes ahead with digital transformation

Over the years, the EOS Group has earned a very good reputation as an international provider of debt collection services and as an investor in receivables packages (NPLs). Backed by the financial strength of the Otto Group, EOS was able to once again make significant investments on the NPL market. The distinct focus on process automation and the use of data-driven collection software also allowed receivables to be processed more successfully and efficiently.

“We have made promising progress towards creating a shared analytical data repository that will deliver clear benefits for managing the receivables processing in future. The associated investment was and continues to be a major step to becoming a fully digitalized group of companies,” says Justus Hecking-Veltman, CFO of the EOS Group. The development and use of chatbots in communications with consumers, or the 27/4 service portals already implemented in several countries, are further examples of the digital transformation at EOS.

With its long-standing expertise as a debt collection company and its focus on digitalization and international networking, EOS was able to reinforce and build on its leading position in receivables management in numerous markets in fiscal 2021/22. It was a record-breaking financial year for EOS especially in the field of receivables purchasing, with the Group investing a total €669 million in NPLs and real estate during this period. Thanks to this result, the volume of the previous financial year was significantly exceeded.

EOS implements its ambitious sustainability concept

With its corporate responsibility (CR) strategy launched at the start of the last financial year, EOS is approaching its own commitment to sustainability in a structured manner and with ambitious goals. Joining the UN Global Compact emphatically underscores the company’s endeavors in this area. In the meanwhile, more than 16,000 companies from over 160 countries are participating in the UN initiative to make the world a fairer and more sustainable place. The numerous CR activities undertaken by EOS go far beyond environmental protection, and the company’s social and corporate engagement is already delivering its first results: As a recipient of the Top Women Leaders Award and a gold medal from prestigious rating agency EcoVadis, the EOS Group already won two accolades for its efforts in the field of CR in the last financial year.

The company also intends to build on its existing sustainability initiatives in the year ahead. “We take responsibility, not just for our own workforce and customers, but for consumers and the entire debt collection sector as well. Or to put it in a nutshell: changing for the better,” says Ramcke “Personally, I would like to drive the issue of diversity in particular. This is one of the greatest strengths of our international Group. Last year, for example, some of our committed employees established the LGBTQ+ community Queer@EOS and the women’s network W:isible.”

Eastern Europe region spearheads revenue growth in EOS Group

The region of Eastern Europe in particular reported a very pleasing annual result with a year-on-year increase in revenue of 12.2 percent. The national subsidiaries in Croatia, Poland, Serbia and Slovakia delivered a particularly strong performance. Despite the stable performance, earnings (EBITDA) in Eastern Europe were down slightly. This is attributable to the precautionary accounting measures the company took in the light of the war in Ukraine. 

In the receivables purchasing segment, the investment volume in the region could be more than doubled. “In the last financial year we invested a total of €402.5 million in Eastern Europe, of which €226.5 million we invested in secured receivables and real estate,” says Carsten Tidow, member of the EOS Group’s Board of Directors responsible for Eastern Europe. The national subsidiaries in Greece and Poland particularly made their mark. “To benefit even more from this overall, it is important that we network with one another in the national subsidiaries to an even greater extent. Our goal for the next financial year is to encourage innovation in this way,” he stresses.

Stable performance in Germany

In Germany too, EOS had a successful end to the last financial year 2021/22: Although revenue declined slightly compared with the previous year due to the challenging market situation, it remained high at €274.8 million. To reinforce its leading position on the German market, EOS invested more than €100 million in receivables and real estate in Germany last year. In addition, the company pressed ahead with its digitalization process and significantly enhanced its data-based collection software. “We are constantly improving ourselves in areas like data analytics, intelligent software and agile working methods. Ultimately, however, it is our employees who are the crucial factor in our success,” says Andreas Kropp, member of the EOS Group's Board of Directors with responsibility for the German market.

Substantial increase in revenue and continuous growth

In Western Europe, the national subsidiaries reported a growth rate of 9 percent. In particular, France, Spain and Denmark enjoyed a significant growth in earnings. There was significant backlog in the NPL segment, attributable to the waning of the pandemic. Because in many countries in Western Europe the courts and debt enforcement offices had been shut for a long time due to the pandemic, the widest possible return to regular operations greatly simplified the processing of NPL portfolios acquired in the previous years, and substantially increased operating performance in countries like France and Belgium. “In addition, we invested €144.5 million in receivables packages and real estate in Western Europe. The EOS national subsidiary in Spain also successfully acquired its first secured NPL portfolio. This is an important step for the region,” says Dr. Andreas Witzig, member of the EOS Group’s Board of Directors with responsibility for Western Europe. “We are going to continue to develop our position on the NPL market and become even more active, especially when it comes to secured receivables,” stresses Witzig.

More information, interviews and background reports about the previous financial year 2021/22 of the EOS Group are available in our virtual press area.

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 45 years of experience and branches in 24 countries (at end of fiscal 2021/22), EOS offers some 20,000 customers worldwide 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: www.eos-solutions.com

Contact for press and media:

Marc Heuer, Corporate Communications & Marketing EOS Group
Email: [email protected]
Tel: +49 40 2850 1222

Hamburg, July 11, 2022 – The EOS Group has set up a new national subsidiary in Portugal. From July 2022, the Lisbon-based company operating under the name FONTEOS will begin to establish itself as a provider of receivables management services on the Portuguese market. The company will be under the management of Luís Chaves, who has long-standing experience in the Portuguese receivables market.

This development allows EOS to continue to grow as an international investor. The company is now represented in 25 countries across Europe. “Alongside our strong financial KPIs and unrivaled expertise, our greatest strengths are our international presence and our diversity. With this new company in Portugal we can continue to build on this expertise and expand our network,” says Marwin Ramcke, CEO of the EOS Group. “I am extremely pleased that we have reached such a significant milestone in terms of the number of countries that EOS is operating in. That’s 25 good reasons to celebrate.”

Focus on receivables purchasing

The EOS subsidiary aims to focus on the purchase of secured and unsecured debt portfolios and real estate. “With the new company in Portugal we are reinforcing our market position as one of the leading receivables management companies in Europe,” says Andreas Witzig, the EOS Group director with responsibility for Western Europe. “Portugal offers considerable potential for the purchasing of receivables packages. I am proud of the entire team that has made it possible to establish the new company.”

About EOS Group

The EOS Group is a leading technology-driven investor and service provider in the receivables management industry. With over 45 years of experience, EOS offers some 20,000 customers in 25 countries (as of: fiscal year 2022/23) 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 the Otto Group.

For more information on EOS Group, please go to: www.eos-solutions.com

Contact for press and media:

Marc Heuer, Corporate Communications & Marketing EOS Group
Email: [email protected]
Tel: +49 40 2850 1222

Hamburg, April 6, 2022 – Spring is a time of renewal, and EOS is no exception: The EOS Group has launched its new corporate identity. With a new logo and corporate design, the international financial services provider is presenting itself as a modern player on the European market for receivables management. “With the new brand we are reinforcing the commitment we already communicated last year with the introduction of our claim ‘Changing finances for the better’, says Marwin Ramcke, who became the new CEO of the EOS Group in February. “With more than 6,000 employees in 24 countries, we work hard every single day to change the financial situation of our customers, partners and defaulting payers for the better. With this in mind, we are investing heavily in digitalization and are making even greater use of AI-based collection processes and our international network.”

Modified design reflects how EOS has changed

The Group, which reported revenues of €792.5 million in fiscal 2020/21, aims to complete its worldwide brand rollout within the next 12 months. “I am delighted that the Board of Directors opted against an evolutionary development of the brand but instead took the plunge and embraced a disruptive design,” says Lara Flemming, Senior Vice President Corporate Communications & Marketing at EOS. “If we had merely tweaked the brand, we would not have done justice to the huge transformation that EOS has undergone in recent years. Now we can hardly wait to work with our international colleagues to make the new EOS brand visible at all touchpoints.”

The focus of the brand relaunch is on customers and potential employees. “With the new brand identity we want to convince even more companies that EOS is their best partner for the purchase and processing of outstanding receivables,” says Flemming. “To ensure that we live up to our commitment we are constantly looking for new talent throughout Europe that can help us move forward. Our people are our most important asset. We are therefore positioning ourselves to high potentials as a modern and attractive employer.” EOS received support with the brand relaunch from Hamburg-based Syndicate Design AG as lead design agency.

New logo stands for internationality, focus and dynamism

The new logo was released from the box that had framed the letters for years. “Nothing should stand in the way of our mindset and actions,” says Flemming. The lowercase ‘e’ in the new EOS logo embodies our internationality and ongoing digitalization. “In English, the ultimate global language, most words are written in lower case,” explains Flemming. “In addition, the lowercase ‘e’ is also familiar from business terms like e-commerce, where it stands for electronic, or digital processes. We felt that it was very fitting to write our company name in lowercase letters in the logo in future.” The large ‘O’ in the center of the logo symbolizes EOS’ focus and strong purpose. The unfinished ‘s’ at the end gives the logo momentum. It reflects the thirst for change of a company that has constantly reinvented itself since it was established in 1974. “Today, the world is changing faster than ever. And we are actively shaping this change. The ‘s’ in the logo says that our development will never be finished and we will always strive to adapt to circumstances,” says CEO Ramcke. “With the new brand, we are emphasizing that we want to continue to set standards, in the entire European financial sector, over and beyond the debt collection segment.”

About EOS Group

The EOS Group is a leading technology-driven investor and service provider in the receivables management industry. With over 45 years of experience, EOS offers some 20,000 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 the Otto Group.

For more information on EOS Group, please go to: www.eos-solutions.com

Hamburg, February 1, 2022 – The EOS Group has a new CEO: In February 2022, Marwin Ramcke assumed responsibility for the business of the international financial services provider and investor, one of Otto Group’s designated ‘focused growth companies’. The 42-year-old succeeds Klaus Engberding, who has left the company for personal reasons. 

Until now, Ramcke has been responsible for the region of Eastern Europe within the Executive Board. In recent years, EOS has evolved from a national debt collection service provider to a financial investor of international caliber that now generates a major part of its earnings abroad. In his new role, Ramcke will continue to drive this process. 

“I regard it as a privilege to be the CEO of one of the leading receivables management companies in Europe. I am driven by the desire for progress, and my goal is not only to keep EOS at the forefront of the sector but also to set benchmarks in the entire financial industry,” says Ramcke, who has worked for EOS since 2007. “In this context, I see the great diversity within our company as an opportunity, and would like to take the worldwide collaboration between all EOS colleagues to a new level.” The EOS Group currently employs more than 6,000 people in over 20 countries.

Strong growth in Eastern Europe

Carsten Tidow, former Head of Division Management Eastern Europe at EOS, will succeed Ramcke as the director responsible for the Eastern European region. EOS has enjoyed significant growth in Eastern Europe in the last few years and meanwhile operates in 15 countries in the region. In fiscal 2020/21, the company invested €195.3 million in non-performing loans (NPL) in this region and is increasingly evolving into a technology-driven financial investor. “In the coming years, Eastern Europe will continue to be an exciting growth market for our company,” stresses Tidow. “As a new member of the EOS Board, I would like to build on the successful work done by Marwin Ramcke in recent years and continue to develop our business in this region.”

About EOS Group

The EOS Group is a leading technology-driven financial investor and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 45 years of experience, EOS offers some 20,000 customers in 26 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 6,800 people and is part of the Otto Group.

For more information on EOS Group, please go to: eos-solutions.com 

Hamburg, January 13, 2022 - The Chair of the Executive Board of EOS Holding GmbH, Klaus Engberding, will be leaving the international financial service provider on January 31, 2022, for personal reasons. Managing Director Marwin Ramcke, who is currently in charge of the region Eastern Europe, will become Chair of the Executive Board, effective February 1, 2022. This change also means that Carsten Tidow will take over the Eastern European business as of February 2022.

Klaus Engberding began his career in the Otto Group in 2000 as part of the Executive Board of the former joint venture OBI@OTTO. Since November 2007 he has been a member of the Executive Board of EOS Holding GmbH. In this capacity, he made a major contribution to the successful development of the region of Eastern Europe. Starting in 2008, Engberding was responsible for the German business of the financial service provider. Since March 2017, the now 54-year-old has been Chair of EOS Holding GmbH.

Marwin Ramcke, who will act as new Chair of EOS Holding GmbH, effective February 1, 2022, also started his career in the Otto Group as part of OBI@OTTO – in November 2001. In September 2007, he moved to EOS, and in March 2017 he assumed responsibility for the entire Eastern European business of the financial service provider. Since then, he has continuously pursued the successful expansion of this business.

His successor will be Carsten Tidow, who has worked for the Otto Group since October 2000. After stops at OTTO and Eddie Bauer, he dedicated many years from 2005 onwards to the consulting firm Ernst & Young. In July 2010, the manager with a degree in business administration decided to continue his career at EOS Holding GmbH. Most recently, Tidow held the position of Managing Director at EOS International Beteiligungsverwaltungsgesellschaft mbH.

Klaus Engberding, Chair of Executive Board at EOS Holding: “I would like to thank all my colleagues in the EOS Group and all my companions on this journey in the Otto Group. Your trust and the cooperative collaboration over the years has been greatly appreciated. I wish my successor Marwin Ramcke the greatest possible success in his new role.”

“I owe a tremendous debt of gratitude to Klaus Engberding for his successful commitment to and the further development of the EOS Group. Over the last few years, his performance has been outstanding, as he has safely steered the company through the pandemic. I wish him all the best personally and professionally for the future,” says Petra Scharner-Wolff, Group Chair of Finance, Controlling and Human Resources at the Otto Group. “At the same time, I am very pleased that we have been able to gain Marwin Ramcke as the successor to Klaus Engberding as Chair of the Executive Board of the EOS Group. He possesses all the skills required to continue the excellent work of Klaus Engberding after February 1 of this year.”

• Two out of three European companies in the B2C segment use chatbots in their communication with customers
• Almost one in two customer inquiries are already being resolved completely by the bot
• The pressure is mounting: 61 percent are convinced that in the long term, every large company will need to offer a chatbot

Hamburg, November 17, 2021 – During the pandemic, enabling fast and direct contact to customer service was a challenge due to short-time working or lack of human resources. As a result, chatbots gained in importance yet again, as a recent survey in 14 European countries by financial services provider and investor EOS shows. According to the survey, chatbots are already being used in two out of three companies in the B2C segment. The survey also revealed that chatbots account for 30 percent of digital communication with customers, and that almost every second inquiry addressed to a chatbot is fully resolved by it. EOS is also using these digital helpers. Chatbots are already in use and communicating with defaulting payers at the company’s national subsidiaries in Croatia, France and Belgium.

“Since the rollout of our chatbot Tom, the number of calls to the service center has gone down,” says Wesley van de Walle, project manager at EOS Contentia in Belgium. “On average, Tom has more than 300 conversations a month with defaulting payers on simple matters. Since its last software update, the bot has also been connected directly to our debt collection system and can now process personal data. Following an authentication process, users can request information on their level of debt, due date of the next payment, or costs incurred. It offers genuine added value,” says van de Walle.

Chatbots especially popular in Poland and Switzerland

The survey found differences among European countries in the use of the technology: Whereas in Poland and Switzerland chatbots are highly popular, with usage rates of more than 70 percent, companies in France (54 percent) and Russia (46 percent) are still somewhat more reticent when it comes to chatbots. At present, the digital helpers are being used mainly for the initial contact (97 percent), followed by customer service (51 percent) and product advice (39 percent).

• EOS clearly profitable despite slight decline in revenue and earnings
• High level of investment in secured and unsecured receivables accompanied by targeted cost-cutting measures
• Corporate responsibility to be firmly embedded in business model

Hamburg, August 11, 2021 – Despite all the challenges of the COVID-19 pandemic, the Hamburg-based EOS Group successfully concluded its 2020/21 financial year (ending on 28 February). With a slight decline in revenue of 7.1 percent to EUR 792.5 million, the financial investor and technology-driven debt collection service provider reported earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 312.4 million (previous year: EUR 343.4 million). Apart from the restrictions on collection activity due to statutory moratoriums in several countries, the financial year was marked by a decline in the volume of non-performing loans (NPLs) on offer on the receivables market. Nevertheless, EOS was once again able to invest a significant sum (EUR 534.3 million) in secured and unsecured receivables and real estate in need of restructuring.

“In view of the difficult conditions of the last year, the positive operating result was by no means a given,” says Klaus Engberding, CEO of the EOS Group. “We needed to continually assess the wider implications of the pandemic, make the right investment decisions and adjust our costs accordingly. I am therefore extremely proud of the fantastic achievement of our teams who faced up to these challenges and made this success possible through their dedicated collaboration.”

Social responsibility to become integral part of business model

The ongoing development of the organization and heavy investment in IT to improve business operations were the key drivers behind the sustained stability of EOS. The values-driven yet forward-looking approach of EOS, which is part of the Otto Group, also contributed to its success. With a new corporate responsibility (CR) strategy, the EOS Group aims to firmly embed four key actionable areas into its business model in future. In this context, the focus is on solution-driven and sustainable debt relief for defaulting consumers, proactive funding initiatives and (financial) education measures, climate-neutral operation by 2030, and the championing of strict and binding industry standards in all 26 countries where the company is located. 

“As one of the leaders in our industry we are absolutely aware of our responsibility towards society. Through our actions, we do not just want to help the economic system to function by improving the financial situation of our clients and of defaulting payers; we also aim to use our new CR strategy to do our part to change the world we operate in for the better overall,” says Engberding.

Different figures may appear in tables due to rounding.

Germany remains the most important EOS market

With a turnover of EUR 289.1 million and a 36.5 percent share of consolidated revenue, Germany continues to be the region with the highest revenue within EOS Consolidated. At EUR 168.2 million, the investment level in receivables and real estate was stable. “Our success is primarily due to our operational excellence and understanding of our customers’ needs, which makes us a strong and reliable partner in the debt purchasing and fiduciary collection business,” says Andreas Kropp, member of the EOS Group's Board of Directors with responsibility for the German market. “Even in this challenging year, we continued to systematically pursue the digitalization of the company and in doing so have given a substantial boost to our future viability.”

As a longstanding member of the German Association of Debt Collection Companies (BDIU), EOS has continued its commitment to high ethical standards in the industry. In the last financial year it also established an in-house ‘hardship case community’, where specially trained personnel find solutions for cases of debt affecting people in permanently dire financial straits. Moreover, the company is committed to financial education for children and young people through its finlit foundation, whose ‘ManoMoneta’ initiative has already reached more than 100 schools.

Eastern Europe once again the highest earning region in the EOS Group

Despite a decline in revenue to EUR 249.7 million, Eastern Europe is still the highest earning region within EOS Consolidated. EOS has its own subsidiaries in 15 countries in Eastern Europe. A major driver for this result was the substantial year-on-year increase in results in Russia, Slovenia, Slovakia and Poland. In addition, EOS was able to increase investment in NPLs in the region in the last financial year by around three percent to EUR 195.3 million. The highest NPL investments were made in Croatia, Poland and Russia. 

“Thanks to our local expertise we made substantial investments in secured and unsecured NPLs again this year and are going to rigorously pursue this strategy again in the current financial year,” says Marwin Ramcke, member of the EOS Group’s Board of Directors responsible for the Eastern European region. “We are also pushing ahead with the digitalization process and are successively rolling out our international collection software ‘Kollecto+’, which we developed in-house, in all Eastern European countries where EOS is represented.

In addition, an international HR department was established in Hungary. As well as strategic HR issues, it will also manage the Group’s cultural change process outside of Germany.

Stable business performance in Western Europe

The continued stable business performance in France, Belgium, Spain and Denmark enabled EOS to report a good result overall for Western Europe. At EUR 207.1 million, the region accounted for more than a quarter (26.1 percent) of the total revenue of EOS Consolidated. Moreover, the EOS companies in France and Belgium were able to reinforce their position as leading providers for debt purchases. In Spain too, EOS increasingly shifted its focus from fiduciary collection to receivables purchasing, and was able to build up a strong market position as a buyer of debt portfolios.

Accordingly, EOS in Spain closed the year with record investments, e.g. in three NPL portfolios comprising a total 232,000 receivables and with a nominal value of EUR 810 million. “Thanks to our longstanding experience, and despite the lower volume of NPLs on the market, we were once again a preferred partner for our customers,” explains Dr. Andreas Witzig, member of the EOS Group’s Board of Directors with responsibility for Western Europe. “Our companies in the region are in a good position, so we are confident of being able to continue to expand our receivables purchasing activities in the new financial year.”

Higher sales revenues in North America

In North America, EOS was able to substantially increase its earnings from receivables purchases, despite a lower revenue overall of EUR 46.6 million. Solid investments in the USA were the key to this result. In Canada too, EOS was able to improve its result on a year-on-year basis in fiscal 2020/21 thanks to strict cost discipline. “The COVID-19 crisis hit the North American market hard, but we were in the position to offset the considerable loss of revenue on the earnings side through massive cost savings,” explains Dr. Andreas Witzig, member of the EOS Group’s Board of Directors with responsibility for North America.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 45 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its focus is on banks and companies from the real estate, telecommunications, energy supply and e-commerce sectors. EOS employs more than 6,800 people and is part of the Otto Group.

Hamburg, August 3, 2021 – For the 17th time in a row, Scope Hamburg, formerly Euler Hermes Rating, has given EOS Holding an A rating. Thanks to the company’s high earnings and very stable cash flows, the rating agency once again confirmed the excellent credit standing of EOS. The rating rationale also emphasized the extensive experience of EOS, as a financial services provider and investor, in the valuation, acquisition and recovery of non-performing receivables, its leading market position in Germany and strong market position in Europe.

EOS weathered the COVID-19 crisis solidly and was able to cement the trust of its business partners. Accordingly, Scope Hamburg rates the company’s financial risk as low and its capital structure, deleveraging potential and interest coverage ratio as good or very good. The rating agency also expects the company’s earnings to grow in the current 2021/22 financial year.

Sustained investment at a high level

“The last financial year was particularly challenging. We needed to assess the potential effects of the crisis in good time and make the right investment decisions. By successfully bringing down costs during this period, the decline in earnings stayed within acceptable limits and EOS made a clear profit, even in this crisis year,” explains Justus Hecking-Veltman, Chief Financial Officer of the EOS Group. “For our development going forward, two decisions were important: Firstly, we again invested heavily in receivables packages. And secondly, we systematically pursued the upgrade of our IT systems to enable us to manage the company even better and with the use of more digital tools in future.”

EOS has stepped up its activities as a financial investor in recent years and has become established in many countries as a market leader for the purchase of debt packages. In fiscal 2020/21, the company invested EUR 534.3 million in unsecured and secured receivables and real estate in need of restructuring.

About EOS Group

The EOS Group is one of the leading technology-driven financial investor and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 45 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, insurance companies, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

• Only 33 percent of Europeans trust companies to handle their digital data properly; in the USA as few as one in four consumers
• Banks and online payment providers enjoy the greatest degree of trust, while telecommunications companies, online retailers, social networks and messaging services rank lower on the trust scale

Hamburg, October 27, 2020 – The responsible handling of the valuable commodity “digital data” has become more important than ever. Because data like this helps companies to better understand their customers and their preferences and to respond to market trends. However, the willingness of consumers to disclose their data is crucially dependent on trust. In this respect, companies have not fared particularly well until now, with only 33 percent of Europeans trusting companies to handle their digital data. US citizens are even more distrustful (23 percent), while Russians are somewhat less skeptical (41 percent). These are some of the findings from a recent representative survey entitled “What’s the value of data?” conducted by financial services provider and investor EOS in 17 countries. The reasons for this skepticism result in part from bad experiences with disclosing data. Every fourth or fifth consumer has at some point had a negative experience online in this regard.

Significant differences in level of trust depending on sector and type of data

There are clear differences between sectors: Banks and financial services providers enjoy the greatest level of trust for their handling of customer data (Europe: 54 percent, USA: 56 percent, Russia: 54 percent), although not unconditionally across all countries. Energy utilities and insurance companies also come off relatively well (average value across all countries 39 percent). However, there is a lack of trust when it comes to telecommunications companies (28 percent on average), online retailers (21 percent on average) and social networks and messaging services (14 percent on average). That people still provide their data to the latter (contact information, movement data, purchasing and surfing behavior) can be explained by the fact that users regard this data as less sensitive. Universally, financial details are regarded as being the most worthy of protection.

Data minimization and service quality create trust

Financial service providers in particular can therefore benefit from the higher level of trust they enjoy when it comes to the use of data. However, they need to create a balance between optimizing processes through as much data as possible and avoiding unnecessary requests for data. This is a challenge that EOS is facing as well. The debt collection service provider, which commissioned the survey, employs around 60 people worldwide in the data privacy and information security fields. “To build trust among our customers and consumers, we emphasize data minimization at EOS even when initially setting up projects. Instead of ‘collecting data for data's sake’, we pursue a data minimization approach and collect data only for specific purposes,” explains Stephan Bovermann, Senior Group Privacy Officer at EOS Group. He works with his colleagues to ensure data privacy in all 26 countries where EOS operates worldwide. From his perspective, however, handling data responsibly is just one way of establishing trust. “Naturally, high quality products and an excellent level of service are just as important for creating trust in a company as its careful handling of the data entrusted to it,” says Bovermann.

Data minimization through self-service digital portals

One example of the data minimization approach are the EOS service portals which defaulting payers can use to settle their outstanding debts. These portals only collect the data that is necessary for the payment process. This creates trust, says Esther van Oirsouw, Head of Portals & Integration at EOS Technology Solutions: “Our online portals allow defaulting payers simple and self-determined access to their outstanding debt. After entering the individual case number, they can complete payment with just a few clicks. And for the majority of payment methods offered, no personal data has to be provided. This makes the obstacles to payment extremely low, because we know from experience that the more self-determination and flexibility we create, the better the payment rate and the higher the trust in us.”

Action needed across all national borders

As the survey shows, gaining and building trust is still a major work in progress for many companies. In all countries, mistrust and skepticism on the part of consumers is on a similar scale. But one thing that is clear is that the digital environment is a leveler. If you want to be part of the digital universe you will meet the same global players and be subject to their rules in all countries. Many respondents felt that they often didn’t have a choice when it came to disclosing their data. Around two-thirds of Europeans (66 percent) and Americans (58 percent) and four out of five Russian consumers complain that they are not even able to use all the features of a lot of online services without disclosing their data. In addition, around 60 percent do not have enough information about how to prevent or limit the disclosure of their data.

About the representative EOS survey “What's the value of data?” 2020

The EOS survey, which was conducted in partnership with market research institute Kantar in the spring of 2020, is representative of the (online) population over the age of 18 in the 17 countries polled. A random sample of 1,000 respondents from each of the countries Belgium, Bulgaria, Croatia, Czech Republic, France, Germany, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, the UK and the USA, and 300 respondents from North Macedonia, was used for the analysis. The survey participants answered questions on their personal handling and disclosure of data, their trust in companies and their willingness to sell data for compensation.

You can find more information on the survey here.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

• Great opportunity for companies: More than a third of consumers in favor of “compensation for data”
• Majority willing to sell at least one item of personal information to a trustworthy company
• Willingness to disclose data even exceeds demand in some cases

Hamburg, October 5, 2020 – In today's digital environment, data like bank account number, date of birth, address, health details or purchasing preferences have become a key economic asset. This is why the handling of data and its value, and the reasons why companies are keen to make use of it, are increasingly a topic of public debate. This has also been validated by a recent representative survey entitled “What’s the value of data?” conducted in 17 countries by financial services provider and investor EOS. The survey revealed that more than 60 percent of consumers in Europe and the USA and as many as 70 percent in Russia believe that companies should compensate customers for the use of their data. More than a third of respondents, and in Russia as many as half, said they were willing to provide certain data in return for compensation.

Trust and financial rewards the drivers for increased disclosure of data

For people to be prepared to disclose personal data, it is crucial for them to trust a company or organization to handle their data responsibly and adhere to the relevant statutory regulations. The EOS survey showed that a clear majority of consumers would sell at least one item of personal data for money to a trustworthy company (Europe: 82 percent, USA: 75 percent, Russia: 90 percent). People are least concerned about disclosing purchasing decisions and preferences for products and brands, but consider account or credit card details, or insights into their bank account, to be especially worthy of protection. When asked about their specific compensation preferences, more than half of the respondents found material rewards and discounts particularly attractive, whereas in all regions there was less demand for services as compensation, with only around 20% in favor of this option.

Data analysis as the basis for modern receivables management

A look at receivables management shows that it is worthwhile for companies to provide incentives to consumers to disclose their data. Because the better the data available about the purchaser of a product or service, the quicker they can be reached in the event of a payment default. And, the more empirical data from similar receivables cases is already available, the better the proposed installment plan will match the customer’s financial situation and the more likely the customer will comply with it as a result. This is why its Center of Analytics plays a key role at receivables management service provider EOS. With the help of machine learning algorithms, its central platform analyses thousands of debt collection cases to determine the best processing steps to be taken next.

Willingness to disclose data even exceeds demand in some cases

The EOS survey revealed that one in five consumers had already been offered compensation to disclose certain details. In Europe this was most common in Spain and Romania, where as many as one in four consumers had received such an offer. In some cases, however, the willingness of consumers to disclose data actually exceeds the number of offers of compensation by companies. “I think there are still significant opportunities and unexploited potential here,” stresses Joachim Göller.

“Already, installment plans are produced on the basis of intelligent data analysis in a lot of the countries where EOS operates,” explains Joachim Göller, Head of the Center of Analytics. “It is in the interest of all parties to conclude a collection case as soon as possible to save costs on both sides. And this is where data can help. The sooner the contact is established and the better the chances of the payment agreement being met, the more likely it is for the creditor to get their money and the consumer to become debt-free. So it can absolutely be in the interests of the defaulting payer to disclose data.”

“Already, installment plans are produced on the basis of intelligent data analysis in a lot of the countries where EOS operates,” explains Joachim Göller, Head of the Center of Analytics. “It is in the interest of all parties to conclude a collection case as soon as possible to save costs on both sides. And this is where data can help. The sooner the contact is established and the better the chances of the payment agreement being met, the more likely it is for the creditor to get their money and the consumer to become debt-free. So it can absolutely be in the interests of the defaulting payer to disclose data.”

About the representative EOS survey “What's the value of data?” 2020

The EOS survey, which was conducted in partnership with market research institute Kantar in the spring of 2020, is representative of the (online) population over the age of 18 in the 17 countries polled. A random sample of 1,000 respondents from each of the countries Belgium, Bulgaria, Croatia, Czech Republic, France, Germany, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, the UK and the USA, and 300 respondents from North Macedonia, was used for the analysis. The survey participants answered questions on their personal handling and disclosure of data, their trust in companies, and their willingness to sell data for compensation.

You can find more information on the survey here.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

Berlin, September 18, 2020 – The EOS Group will provide the President of the German Association of Debt Collection Companies (BDIU) for another four years. Kirsten Pedd, Chief Compliance Officer and Head of Public Affairs for the international financial services provider, was unanimously confirmed in office yesterday by the association's members. Pedd, who has been representing EOS in the BDIU for almost 20 years, was the first woman appointed to lead the association in 2016.

“I am very pleased that the members of the BDIU have given me their vote of confidence by re-electing me,” says Pedd. “I am especially proud that we were able to adopt our Code of Conduct, which shows that responsibility and fairness are not just empty words for us but a real commitment.”

The Code of Conduct unanimously adopted at the AGM covers the entire life cycle of a receivable, from acceptance of the collection order and communication with defaulting payers to other obligations related to the processing of payments and the handling of complaints and queries. Kirsten Pedd was the driving force behind its development.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

• Increase in revenue due to strong business performance in Eastern Europe
• Again, a high level of investment in secured and unsecured receivables
• Strong push towards digitalization

Hamburg, Germany, July 15, 2020 – By consistently following its strategic direction as a technology-driven debt collection provider and financial investor, the EOS Group headquartered in Hamburg has again increased its revenue in the 2019/20 financial year. With a 4.8% increase in revenue to EUR 853.1 million, the previous year recorded very positive results. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew to EUR 343.4 million.

Regional strengths, push for digitalization and high level of investment key success factors

The international provider of tailored financial services, which is part of the Otto Group, can largely attribute its increase in earnings to a substantial 31.3% increase in revenue in Eastern Europe. Other important success factors include the strong push towards digitalization and the cultural development of the EOS Group combined with the consistently high level of investment of EUR 651.3 million in secured and unsecured receivables and real estate.

“I feel very proud as I look back at the last financial year. It is the most successful year in the history of the EOS Group,” says Klaus Engberding, CEO of the EOS Group. “Above all, I would like to single out the tremendous progress we have made in digitalization, with EUR 25 million invested in expanding our core IT systems, and the focus on our cultural transformation process. The use of artificial intelligence and advanced data analyses will help boost innovation in our industry. And in uncertain times like in the wake of the coronavirus pandemic, in particular, reliable processes, highly professional receivables management and sustainable financing are more important than ever for companies. We can offer all of this to our customers and we expect successful growth for our business in the coming year too.”

Germany remains most important EOS market

Germany is again the strongest performing region in the EOS Group, with a 35.6% share of the consolidated revenue. The decline compared to the previous year to EUR 303.3 million resulted primarily from the sale of EOS Health Honorarmanagement AG. Even though fewer significant debt packages were offered on the highly competitive German market, EOS won crucial revolving portfolios and confirmed its leading position on account of its many years of experience and good reputation. Totaling EUR 236.0 million, the level of investment exceeded that of the previous year – particularly in the area of unsecured receivables.

“The success in Germany is primarily due to our operational excellence and intense sales activities in close proximity to our customers. Together with numerous digitalization initiatives and our outstanding reputation – also with respect to data protection – this makes us a reliable and attractive partner for our customers,” says Andreas Kropp, Member of the EOS Group’s Board of Directors and responsible for the German market. “To secure this position and our future viability, we are focusing our investments on our most important areas: employees, culture and technology.”

More information on the EOS financial year 2019/20 in Germany.

Substantial revenue increase in Eastern Europe leads to record high

With a EUR 63.6 million increase in revenue compared with the previous year to EUR 266.7 million in the region of Eastern Europe, EOS is thrilled to achieve a record high. This can be largely attributed to much higher revenues from receivables purchases, especially in Russia and Poland, but Croatia, Hungary, Serbia and Bulgaria also made significant gains in revenue. Other major drivers included the development of collection software “Kollecto +” and the resulting increased efficiency in the processing of receivables. In the last financial year, EOS in Eastern Europe also carried out significant transactions in non-performing loans (NPL). The highest NPL investments were made in Poland, Croatia, Russia and Hungary. In addition, with an NPL portfolio comprising EUR 350 million, Bulgaria made the largest secured debt purchase on the Bulgarian market to date.

“Our strong local expertise, our approach to dealing fairly with defaulting payers and our cooperation with customers, often across borders, are all paying off,” explains Marwin Ramcke, Member of the EOS Group’s Board of Directors and responsible for Eastern Europe. “As a result, we gained important momentum in secured and unsecured debt collection and could share knowledge and expertise within the Group. We also made substantial investments in secured debt portfolios in Slovenia and Serbia, and are now in a position to process secured and unsecured receivables in all the Eastern European countries in the best possible way,” says Ramcke.

More information on the EOS financial year 2019/20 in Eastern Europe.

Stable business performance in Western Europe

In Western Europe, the very pleasing operational business performance in Belgium, France and Austria resulted in a 5% overall increase in revenue, exceeding the previous year’s result. Therefore, the regional EOS companies again held their ground as the leading provider for debt purchasing. Despite persistently tough market conditions, France stood out and made significantly larger investments in both portfolios secured by real estate and unsecured portfolios. Belgium and Spain also increased their investment activities. The nominal value of a package of 47,000 receivables that EOS Aremas in Belgium purchased from bpost bank, for example, is EUR 36 million.

“The EOS Group is very well positioned in Western Europe. Thanks to our expertise and many years of experience, especially in banking and telecommunications, we are a preferred strategic partner for our customers,” comments Dr. Andreas Witzig, Member of the EOS Group’s Board of Directors and responsible for the Western European and North American regions. “We are making huge investments in big data and analytics and are helping to resolve problems relating to NPLs. Despite the coronavirus crisis, which has hit France and Spain particularly hard, we remain a reliable partner in the field of fiduciary services and debt purchasing,” confirms Witzig.

More information on the EOS financial year 2019/20 in Western Europe.

Growing investments in North America

With a five percent increase in revenue of EUR 2.6 million, the North American region was slightly above the previous year’s result. In particular, the strategic focus on debt purchasing, in which EOS invested a total of EUR 28.8 million, almost EUR 4 million more than the previous year, paid off in the USA. In Canada, revenue was markedly above the 2018/19 financial year and thus well above target. The focus on fiduciary services, in particular, was developed further.

“The North American market is a challenging environment for the EOS Group, but Canada is developing very satisfactorily,” comments Dr. Andreas Witzig, Member of the EOS Group’s Board of Directors and responsible for the Western European and North American regions. “We have become one of the market leaders in fiduciary collection there in recent years and have clearly exceeded the expectations for revenue and earnings for 2019/20. Along with our Canadian team, we are very proud of this. In the US, our increased investment in purchase of receivables is showing positive trends. We intend to continue this focus in the current financial year,” adds Witzig.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

For more information on EOS Group, please go to eos-solutions.com

Hamburg, Germany, July 3, 2019 – Good news for the EOS Group: for the 15th time in a row, EOS Holding, the international financial investor’s parent company, received an A-rating for creditworthiness. The auditors from Euler Hermes Rating attested that EOS continues to present a low financial risk. The rating experts cited the high stability of the company’s cash flows and the continued very high level of earnings as the rationale for the rating. The auditors also expect a stable performance for the coming 12 months.

Euler Hermes considered the longstanding experience of EOS in the valua-tion, acquisition and recovery of non-performing debt, its market leadership in Germany and strong position in the Western and Eastern European markets to be especially positive factors. EOS has more than 60 subsidiaries in 26 countries.

"We are delighted that the auditors again confirmed the high level and stability of our earning power, and that their report specifically emphasized our extensive experience in receivables purchasing and recovery," says Justus Hecking-Veltman, Member of the EOS Group’s Board of Directors and Chief Financial Officer. "In fiscal 2018/19 we invested EUR 668 million in receivables and real estate. We are aiming to again purchase secured and unsecured debt portfolios of this magnitude in this current financial year."

About the EOS Group

The EOS Group is a leading international provider of customized financial services. As a specialist in the evaluation and processing of receivables, EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a work-force of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

Vienna, May 3, 2019 – Today, BAWAG Group announces the successful completion of the acquisition of EOS Health Honorarmanagement AG (Health AG) from the EOS Group and of BFL Leasing GmbH from BFL Gesellschaft des Bürofachhandels mbH & Co. KG, in which VR-LEASING AG holds a majority stake. Following the receipt of all regulatory approvals, the transactions announced at the end of 2018 have now been successfully completed.

Anas Abuzaakouk, CEO of BAWAG Group: "Today is an another important step forward as we continue to execute on our growth strategy. The acquisition of BFL Leasing GmbH creates a foundation for BAWAG Group to establish its leasing franchise in Germany. The acquisition of Health AG creates an opportunity for BAWAG Group to enter the factoring space, a niche business segment, as well as drive new strategic partnerships. We look forward to working with our business partners and driving solutions as we reposition into a technologydriven Retail and SME focused bank. I’m excited to welcome our new colleagues into the BAWAG Group and am confident that they will be great partners as we continue to pursue our growth strategy."

BFL Leasing GmbH, headquartered in Eschborn near Frankfurt, Germany, is a specialist financing provider that has been offering technology and equipment leasing products and services since 1973. The company complements BAWAG Group’s business model with its unique distribution model while providing a bolt-on opportunity for leasing growth in Germany.

Health AG, headquartered in Hamburg, Germany, is a leading dental factoring market player offering dental financing products and settlement services. The entity complements BAWAG Group’s business model by providing a bolt-on opportunity for Retail and SME business growth in Germany.

About BAWAG Group

BAWAG Group AG is the listed holding company of BAWAG P.S.K., which is headquartered in Vienna, Austria, with the main banking subsidiaries easybank and start:bausparkasse in Austria as well as Südwestbank and start:bausparkasse in Germany. With more than 2.5 million customers, BAWAG P.S.K. is one of Austria’s largest banks operating under a well-recognized national brand and applies a low-risk, efficient, simple, and transparent business model focused on Austria, Germany, and developed markets. The Bank serves retail, small business, and corporate customers offering comprehensive savings, payment, lending, leasing, investment, building society, and insurance products and services through various online and offline channels. Delivering simple, transparent, and best-in-class products and services that meet our customers’ needs is the consistent strategy across all business units.

More about BAWAG Group: https://www.bawaggroup.com

About EOS Group

The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables, EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

Hamburg, April 18, 2019 – At their annual congress the member firms of the German Association of Debt Collection Companies (BDIU) voted by a large majority in favor of developing a binding Code of Conduct for the debt collection sector. EOS emphatically welcomes this decision and will actively support the further implementation process.

"We are absolutely delighted that as well as EOS, the majority of BDIU mem-bers have endorsed the planned Code of Conduct," stresses Andreas Kropp, Member of the EOS Group's Board of Directors and responsible for the German market. "Through a Code of Conduct of this kind, the sector is send-ing a strong message to government, the business community and consum-ers. The objective of EOS is always to find a fair solution to disputes between creditors and consumers, to pave the way to a debt-free future," says Kropp.

In the next few months, the draft of the Code of Conduct adopted at the BDIU Congress is set to be discussed with all relevant stakeholder groups and should be adopted definitively in the coming year. It contains principles of conduct for all important issues arising from day-to-day collection practice – from communication with the defaulting payer, to the nature and extent of the costs and fees, to dealing with complaints and queries.

Another positive outcome of the congress was the election of Brigitte Zypries, formerly Federal Minister of Economic Affairs and Energy and Federal Minis-ter of Justice, to the office of Ombudswoman of the Association. In this role Zypries will be responsible for mediating between creditors and consumers as required.
 

About EOS in Germany
Established in 1974, EOS in Germany is now one of the leading providers of receiv-ables management. Through its smart services, EOS offers its customers financial security in the business segments of fiduciary collection, debt purchase and mort-gage-backed receivables. EOS in Germany is part of the EOS Group, which em-ploys around 7,000 people to support some 20,000 customers in 26 countries around the world. Its key target sectors are banking, utilities, real estate and e-commerce.

For more information on EOS in Germany please go to: https://de.eos-solutions.com

April 17, 2019 – The Association of Hungarian CMS Companies and Business Information Providers (MAKISZ) held a renewal meeting on March 27, 2019. At the meeting, a new 7-member Executive Board was appointed and Péter Thummerer, Managing Director of EOS Faktor Zrt. and EOS KSI Kft., elected President.

According to the new President, MAKISZ has become a major advocacy organization in the field of financial services in recent years. "The most important priority for us is to continue the excellent work started by the previous President. In the receivables management segment, our most challenging goal is to support the passing of sector legislation to provide greater transparency, regulation, and thus greater security for both debtors and market participants. Naturally, we will continue our extensive professional collaboration with the representatives of supervisory authorities as well," Péter Thummerer said.

MAKISZ was established in 1993 with the aim of bringing claims management companies and providers of business information services together through its professional activities and helping them protect their interests. These activities assist companies with collecting their legitimate claims, thereby maintaining their liquidity, and ensure that they have sufficient information about their existing or potential partners in order to reduce the risks involved in conducting their business. In addition, MAKISZ takes on an important role in training professionals, as it provides a large number of trainers for the Qualified Debt Management Training offered by the International Banker Training Company.

MAKISZ membership is open to any enterprise that meets the requirements of the statutes and ethical standards, and it has already established its ability to do business legally, effectively, and adequately in order to meet the client needs over the long term.

Members of the MAKISZ Executive Board: Péter Thummerer (President), Péter Felfalusi (Member of the Board), Dr. Hajnalka Csorbai (Member of the Board), Krisztina Jávorszky (Member of the Board), Kornél Bódizs (Member of the Board), Attila Kalocsai (Member of the Board), Gyula Antolik (Member of the Board), Ákos Nemes (Secretary).

About EOS Hungary
Find out more about EOS Hungary: https://hu.eos-solutions.com/en/

About EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

Athens, 17 April 2019 – Greek receivables management company, EOS Matrix S.A. is now licensed by the Bank of Greece in accordance with the provisions of Law 4354/2015.

The license approval was published in the Government Gazette on 28 March 2019. With this license, which is hold by other 16 companies in Greece, EOS Matrix is able to represent the ultimate beneficiary in all court proceedings, and to collect, negotiate, settle or restructure the claims on their behalf.

The non-performing exposures law requires servicers to adhere to the same consumer standards as Greece’s banks. Consequently, servicers are regulated by the same consumer protection legislation and are required to follow the Banks’ code of conduct.

"To be approved by the Bank of Greece makes us very happy and proud," says Antonios Bayias, Managing Director of EOS Matrix. "With our high quality standards, we always aim to find the best solution for our customers as well as defaulting payers."

EOS Matrix is on the Greek market since 2001. The company has 160 employees and is located in Athens.

EOS Matrix is part of the EOS Group, one of the leading international providers of customized financial services. The EOS Group has a workforce of around 7,500 and more than 60 subsidiaries. Its core business is the purchase of unsecured and secured debt portfolios.

About EOS Matrix S.A.
EOS Matrix S.A. is active in the field of international receivables management: fiduciary collection, debt purchase and business process outsourcing. With tailored services the experts of EOS in Greece create win-win solutions for business customers as well as consumers. The company is located in Athens and has 160 employees.

Find out more about EOS in Greece: https://gr.eos-solutions.com/

About EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

Vienna/Hamburg, 21 December, 2018 – Today, BAWAG Group announces the signing of a definite agreement to acquire Health AG and Zahnärztekasse AG from the EOS Group. Health AG, headquartered in Hamburg, Germany, and Zahnärztekasse AG, headquartered in Wädenswil, Switzerland, are two leading dental factoring market players offering dental financing products and services. The entities complement BAWAG Group’s business model by providing a bolt-on opportunity for retail and SME business growth in Germany as well as expansion into Switzerland.

Anas Abuzaakouk, CEO of BAWAG Group: "Today is another important step forward as we continue to execute on our strategy. We’ve signed our second German bolt-on acquisition in 2018 as well as paved the path to expand our footprint into Switzerland. The acquisitions of Health AG and Zahnärztekasse AG from EOS create an opportunity for BAWAG Group to enter the factoring space, a niche business segment, as well as drive new strategic partnerships. I’m excited to welcome our new colleagues into the team and look forward to working together. As we continue to execute on our strategy, we wanted to reiterate that BAWAG Group is on track to exceed all of our targets in 2018."

Klaus Engberding, CEO of the EOS Group: "With BAWAG Group we have found the best match to support Health AG and Zahnärztekasse AG during their next growth phases. I would like to thank the management and all employees for the great work they have done during the last years and wish both companies all the best for their future success."

The transaction is subject to customary closing conditions and regulatory approvals. The parties involved have agreed not to disclose the purchase price or any details of the agreement.

About Health AG

EOS Health Honorarmanagement AG is a provider of financial and IT services for the health market. With more than 2,000 customers it is one of the market leaders in German dental factoring. Since its establishment in 2005, the company has evolved from a factoring start-up to an independent company providing financial and technology services.

For more information please visit: www.healthag.de

About Zahnärztekasse AG

Zahnärztekasse AG is a financial services provider in the health sector and with 1,000 customers has become the market leader in the Swiss dental factoring segment. Its customised and modular based services, combined with an efficient IT infrastructure, relieves medical practice teams of administrative tasks and secures the liquidity of its clients. Since its foundation in 1963 the company has become established as a reliable partner to Swiss dentists.

For more information please visit: www.zakag.ch

About BAWAG Group

BAWAG Group AG is the listed holding company of BAWAG P.S.K., which is headquartered in Vienna, Austria, with the main banking subsidiaries easybank and start:bausparkasse in Austria as well as Südwestbank and Deutscher Ring Bausparkasse in Germany. With more than 2.5 million customers, BAWAG P.S.K. is one of Austria’s largest banks operating under a well-recognized national brand and applies a low-risk, efficient, simple, and transparent business model focused on Austria, Germany, and developed markets. The Bank serves retail, small business, and corporate customers offering comprehensive savings, payment, lending, leasing, investment, building society, and insurance products and services through various online and offline channels. Delivering simple, transparent, and best-in-class products and services that meet our customers’ needs is the consistent strategy across all business units.

For more information please visit: www.bawaggroup.com

About EOS Group

The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

International receivables increasing across Europe / Payment delays no more frequent for overseas invoices than for domestic invoices

Hamburg, 11 December 2018 – Global links at the economic level are on the increase. According to the ifo Institute for Economic Research, international goods trading in the whole of Europe has reached a peak, and Germany is at the forefront with the world's largest current account surplus. In combination with the spread of digitalization, this is resulting in a greater percentage of foreign customers, and consequently, a greater proportion of international receivables. Currently, 14 percent of all invoices across Europe are being issued to customers overseas, compared with 12 percent a year ago. These are some of the findings of the 'European Payment Practices' survey commissioned by the EOS Group, which conducted a poll of 3,400 companies in 17 countries. However, global customers are not regarded as being less reliable than domestic customers. 26 percent of those polled who have international receivables actually think that foreign customers pay late less often than domestic customers. This is two percent up on the figure for 2017. But 16 percent think the opposite is true and that their international clientele pays late more often.

It is primarily the Internet that is making it possible for consumers to order goods across borders. This also results in an increase in the number of invoices and receivables going overseas. At 39 percent, Slovenia currently has the highest proportion of these, followed by Denmark at 25 percent and Germany at 22 percent. For the major economies of the UK and France, the totals are just 11 and 10 percent respectively.

According to the survey, every fourth company in Europe (25 percent) assumes that there will be a significant increase in the number of international invoices in the next two years. In the case of an exporting country like Germany in particular, trading relations with other countries are of course especially strong. In Germany, more than 37 percent of respondents assume that the number of foreign receivables will grow until 2020. In Slovenia and Greece, 37 percent of companies also think this will be the case, in Denmark 31 percent and in the UK 27 percent.

Companies need expertise to deal with late payers overseas

“These figures underline that working with a service provider can be crucial in future for international receivables management in particular,” says Klaus Engberding, CEO of the EOS Group. “These specialists are familiar with the legal system in the particular country and have local experts on hand so that there is no language barrier.” There are certain decisive details that can have a substantial impact on the effort involved. For example, in some countries it is necessary to have local legal assistance or invoices and contracts need to be translated into the language of the country as evidence for valid receivables.

Companies in many countries in Europe have a large proportion of foreign customers. And just like domestic customers, some of them can also fall behind with payments. In a European comparison, German companies had the largest proportion of international customers that do not pay on time (32 percent). Only Danish companies, at 32 percent, have problems on a similar scale. In the UK, on the other hand, only 9 percent had such problems. In Eastern Europe, Slovenian companies are facing the greatest challenges, with 21 percent indicating that their foreign customers were more likely to be late payers than their domestic customers. Admittedly, Slovenia also has the highest number of international receivables. Conversely, the majority of companies in Eastern Europe have almost exclusively had a good experience with their international business. On average, 30 percent indicated that such deals were less likely to end in delayed payment than in the case of domestic business. Russian companies in particular say that customers in their own country are more often behind with payments than foreign customers (48 percent compared with 2 percent).

About the survey
The EOS Survey 'European Payment Practices' was conducted for the 11th time. In spring 2018, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS polled 3,400 companies with at least 20 employees and an annual turnover of EUR 5 million in 17 different countries about the payment practices in their respective locations, economic developments in their countries and issues relating to risk and receivables management.

The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.
For more information please visit: eos-solutions.com.

Every second company under cost pressure – in Germany as many as three out of four firms / Companies that outsource receivables management have fewer problems / The challenge: Keeping pace with technological change

Hamburg, 04 December 2018 – For European companies, cost pressure is the dominant issue – and that goes for receivables management as well. 49 percent of experts in this area consider cost factors to be the biggest challenge up to 2020. Equally as many are concerned about the issue of digital transformation, with 45 percent stating that in the next two years they will have problems keeping up with technological change. 43 percent are very much in favor of digitizing and automating processes. These are some of the findings of the EOS Survey ‘European Payment Practices 2018’, which polled 3,400 corporate receivables managers in 17 countries.

The digital transformation has been changing Europe for quite some time now. Nevertheless, many companies seem to be still putting off related projects in the area of receivables management. Now around half of them (49 percent) are worried about not being able to keep pace with the digital transformation, even though digitalization also provides a lot of opportunities to make receivables management more efficient. Automating processes can reduce operating costs and cut collection periods.

Across Europe, about every third company (37 percent) works with an external service provider for receivables management. “Outsourcing receivables management helps to reduce costs and distribute the load over several shoulders,” says Klaus Engberding, CEO of the EOS Group. “This means that companies create the space for themselves to tackle digitalization and automation projects.”

Germany: technological change a special challenge

74 percent of German companies, compared with 49 percent of other European companies, see cost reduction as a major challenge in the next two years. The prevailing cost pressure might have contributed to cutbacks. Important digital projects like algorithmic models and big data for a better understanding of customers fell by the wayside. The result of this is that nine out of ten of the companies polled in Germany (91 percent) assume that in the next two years they will have problems keeping pace with technological change. 86 percent also consider the automation of processes to be a not inconsiderable problem.

Increasing cyber criminality makes training necessary

If a company is increasingly deploying digital tools for receivables management its staff needs to be trained in using them. For example, a greater degree of digitization
not only means more efficiency but also a greater threat of increasing cyber crime. In Western Europe in particular, receivables managers are having to deal with this issue more and more. 34 percent of all Western European companies, but just 19 percent of Eastern European firms, describe cyber crime as a challenge. Particularly affected are Germany (60 percent) and Denmark (53 percent). Russia and Greece see hardly any risk from such attacks. “Personnel need to be thoroughly informed about the tricks that cyber criminals use and systems must be protected to the greatest possible extent. Regular training is obligatory,” says Klaus Engberding from EOS. “Often, employees are wary of using digital tools and need to be encouraged. Training the workforce to use these tools is the necessary groundwork.”

47 percent of firms consider the training of their employees to be a major project in the next two years. It's an issue that is important primarily in Germany (76 percent), Russia (55 percent) and Spain (51 percent). In Denmark and Switzerland, on the other hand, this issue is only relevant for 33 and 35 percent of respondents respectively. There is probably a particular need to train staff in using new digital tools. After all, 13 percent of receivables management experts are thinking about using artificial intelligence. This is especially true of firms in Germany (25 percent) and Romania (17 percent).  

About the survey
The EOS Survey 'European Payment Practices' was conducted for the 11th time. In spring 2018, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS polled 3,400 companies with at least 20 employees and an annual turnover of EUR 5 million in 17 different countries about the payment practices in their respective locations, economic developments in their countries and issues relating to risk and receivables management.

The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.
For more information please visit: eos-solutions.com.

Companies in Europa reinforce the important role of the debt collection sector / 70 percent of users of receivables management services believe that debt collection providers are promoters of good payment practices / Debt collection returns 9.1 percent of revenue to companies throughout Europe

Hamburg, 22.10.2018 – Unfortunately unpaid invoices are still part of day-to-day business life in Europe. The consequences are reduced profits and cash flow problems. In the worst-case scenario, the existence of a company may be at risk. For this reason, already a third (37 percent) of the European companies are working with debt collection agencies such as EOS. By outsourcing receivables management or selling open receivables, companies receive cash that they would otherwise not have due to payment delay or even default. This means that more than 9 percent of company revenue flows back into the economic cycle - with 9.7% the percentage is slightly higher in Western Europe than in Eastern Europe with 8.6%. Companies report that the percentage is significantly higher in Germany. Here, the share of revenue being returned to companies as a result of debt collection services is 20.7 percent. These figures are confirmed by the representative EOS survey 'European Payment Practices' 2018, which was conducted for the 11th time this year in partnership with market research institute Kantar TNS.

The following result underscores the cooperation between companies and debt collection services and will certainly not only surprise supporters: Improved payment practices in society because of debt collection. 70 percent of the companies that work with receivables management services agree with this statement. They are observing in practice that using debt collection companies has a positive influence on payment practices of consumers as well as companies. Nearly a third of the companies (28 percent) that have not yet used a debt collection company also believe that the debt collection sector has an effect on society’s conscientiousness regarding payment practices.

The business world and debt collection complement each other
Those who do not rely on debt collection have to make up for payment defaults in other places or collect overdue payments on their own – and frequently companies lack the resources to do so. The relevance of the funds recovered by external debt collection services is shown by the way the funds are used. 47 percent of the companies use these funds to secure and create jobs. 61 percent of the companies surveyed report that they are paying their own debts in time. Other positive ways companies reinvest the funds are expansion of the segment (35 percent) and additional investments in research and development (27 percent). All are important activities required to keep the business of European companies going. “Frequently many people will only realize how relevant a sector is when they imagine that it would no longer exist. If one takes economy without debt collection to its logical conclusion, there would be no immediate consequences for non-payers, which would be very alarming from a moral as well as economic perspective. Obviously this scenario emphasizes how important debt collection companies are for our society,” concludes Klaus Engberding, CEO of the EOS Group.

About the EOS survey: 'European Payment Practices' 2018
In conjunction with independent market research institute Kantar TNS (formerly TNS Infratest), EOS conducted phone interviews in the spring of 2018 with 3,400 companies in 17 European countries about the payment practices in their respective locations. 200 companies with an annual turnover of more than EUR 5 million in each of the countries Denmark, Germany, UK, Spain, France, Belgium, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. The survey is being conducted for the 11th year in succession. For more results of the survey go to: https://de.eos-solutions.com/surveys

The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

For more information please visit: eos-solutions.com.

European companies suffer the consequences of payment delays / Profit losses and cash flow problems especially serious, despite improvements on the previous year

Hamburg, 15 October 2018 – Consumers are increasingly demanding more flexibility. For example, they want to decide for themselves where and how they stream movies, or buy a washing machine. However, when consumers adopt these same liberties when it comes to paying their bills, this can have serious implications for the economy. If customers do not pay their bills on time, for example, companies sometimes find themselves in financial difficulties. These are some of the findings of the representative EOS survey 'European Payment Practices' 2018, which was conducted for the 11th time this year in partnership with market research institute Kantar TNS. Alarming result: profit losses and liquidity shortfalls are the most frequent effect of delayed payments throughout Europe. Although there has been a slight improvement in this area compared with last year, 42 percent of companies polled still reported a reduction in profit (2017: 46 percent) and 38 percent were battling cash flow problems (2017: 39 percent). Other repercussions are a decline in investments (23 percent), a restrictive hiring policy (19 percent) and price increases (18 percent). The negative ramifications are very pronounced in Eastern Europe in particular, where 45 percent of firms complained of loss of profit compared with 37 percent in Western Europe. There is an even greater difference in respect of cash flow problems, which affected 42 percent of companies in Eastern Europe compared with just 31 percent in the West.

Major problems for Greek, Spanish and British companies
A look at the individual countries reveals significant differences. Spain and Greece stand out for all the wrong reasons, with 59 percent of Spanish companies suffering downturns in their profits due to payment delays and defaults. A good 57 percent of Greek companies reported scant liquidity, and 45 percent, the highest figure in Europe, were seeing a decline in investments. The situation is also problematic for British companies, with 54 percent reporting reduced profits.

German companies are in a much better position. Only every fifth German company was faced with a cut in profits due to late or missing payments. However, 14 percent did suffer cash flow problems, twice as many as in 2017 (7 percent). All over Europe, on the other hand, the existential threat has fallen slightly. Whereas in 2017, 17 percent of European companies felt their continued existence was at risk, a year later this figure stood at just 14 percent.

Payment delays put entrepreneurial livelihoods at risk
Despite the decrease, payment delays in Europe continue to jeopardize around every seventh company, with serious economic implications. “If companies have to wait a long time on outstanding payments, they can sometimes no longer service their ongoing costs like salaries for their workforce. In a worst case scenario this can result in bankruptcy, which destroys economic potential and jobs,” says Klaus Engberding, CEO of the EOS Group. This is where professional receivables management can help. Debt collection companies help companies to verify the credit standing of their customers to minimize payment delays and defaults from the very outset and also ensure that the firms receive outstanding payments sooner. In doing so, they make an important contribution to the entire economic cycle. By increasing the liquidity of the companies and improving innovation capacity they therefore safeguard jobs.

About the EOS survey 'European Payment Practices' 2018
In conjunction with independent market research institute Kantar TNS (formerly TNS Infratest), EOS conducted a telephone interview in spring 2018 with 3,400 companies in 17 European countries about the payment practices in their respective locations. 200 companies with an annual turnover of more than EUR 5 million in each of the countries Denmark, Germany, UK, Spain, France, Belgium, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. The survey was conducted for the 11th year in succession. For more results from the survey please go to: eos-solutions.com/surveys

The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.
For more information please visit: eos-solutions.com

• Significant increase: revenue and EBT at record levels
• Purchase of secured receivables a growth segment
• Investment in smart data solutions and artificial intelligence

Hamburg, Germany, 16 July 2018 – The Hamburg-based EOS Consolidated has performed exceptionally well in the financial year 2017/18. At EUR 271.5 million, its earnings before tax (EBT) were 39 percent up on the previous year. EOS also increased its revenue substantially to EUR 795 million, an increase of 19.8 percent compared with the previous year. Because EOS has changed its fiscal year end date throughout the entire Group to 28 February, 30 companies in Western and Eastern Europe contributed an additional two months of results to the overall sales performance.

“Once again, we have held our ground in a very competitive environment,” says Klaus Engberding, CEO of the EOS Group. Price pressure had increased enormously in the receivables purchasing segment in particular, also as a result of cash-rich investors from outside the sector. “For us, the purchase of non-performing debts continues to be an essential segment. In the past year we have demonstrated this successfully yet again.” In this context EOS will be focusing even more strongly in the future on the acquisition of mortgage-backed debt packages.

What success means for EOS

“For me, an excellent operating result means much more than EBT and an increase in revenue: I am talking about the progress we are making with digitalization and cultural change,” says Engberding. “What is paramount for me is how we work together at EOS and develop ideas.” And in this respect EOS has come a long way. This is evident, for example, in the development and use of new technologies, with a particular emphasis on smart data and artificial intelligence. “The systematic use of relevant, pseudonymized data is a crucial tool for evaluating and processing debt packages and therefore ensures our competitiveness,” explains Engberding. By taking this approach EOS is exploiting the opportunity to invest in new asset classes as well as in debt portfolios in countries where EOS is not represented. The use of advanced analytics benefits EOS customers and their customers alike. “By adapting the recovery process individually to each late payer, we can quickly find a satisfactory solution for all parties.”

Results in the regions

In Germany, revenue increased by 7.2 percent over the previous year to EUR 327.5 million. This means that Germany remains the most important regional market, with 46 percent of consolidated sales.

With a growth in sales of 46.4 percent, the Western Europe region has once again achieved an outstanding result. EOS generated total sales of EUR 240.4 million in this region. One reason for this is the satisfying business performance in France, Belgium, Spain and Switzerland.

At EUR 183.2 million, Eastern Europe earned its highest revenue to date in the history of the EOS Consolidated and was able to outperform the already excellent level of the previous year by 39.4 percent. This growth was fueled in particular by the much higher revenue from the purchase of receivables in Croatia and Hungary.

In the North America region revenue was lower than the previous year, because in the USA the contract to process government-issued student loans expired at the beginning of the fiscal year.

The EOS Group

The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

For more information please visit: eos-solutions.com.

Hamburg, 10 July 2018 – Outstanding performance confirmed. For the 14th time in succession, EOS Holding has once again been given an ‘A’ rating by credit rating agency Euler Hermes Rating, providing renewed confirmation that the debt collection specialist enjoys a good credit standing. The auditors emphasized the company's market leadership in Germany and its strong market position in Western and Eastern Europe. The rating was also the result of the company's longstanding experience in processing non-performing receivables and in receivables purchasing.

“In the last financial year we have invested EUR 0.5 billion in receivables,” says Justus Hecking-Veltman, Member of the EOS Group’s Board of Directors and CFO. This shows how important this business segment continues to be for the EOS Group. “The acquisition of secured debt portfolios in particular is an attractive growth market for us,” explains Hecking-Veltman. This is also evident from the auditors' report, because this year Euler Hermes Rating specifically praised the company's ongoing expansion of expertise in real estate evaluation, development and realization. “We are now active in this business segment in eleven European countries and plan to expand into others.”

As a result, the auditors attested that EOS represents a low financial risk due to its very stable cash flow situation and continually high and consistent earnings level.

The EOS Group 
The EOS Group is one of the leading international providers of customized financial services. Its main focus is on receivables management, in particular the three segments fiduciary collection, receivables purchasing and business process outsourcing. With its workforce of around 7,000 and more than 55 subsidiaries, EOS offers some 20,000 customers in 26 countries around the world financial security through customized services in the B2C and B2B segments. Working in an international network of partner companies, the EOS Group has resources in more than 180 countries. The company's key target sectors are banking, insurance, utilities, telecommunications, the public sector, real estate and e-commerce.
For more information please go to: eos-solutions.com.

Hamburg, 29.05.2018 - The EOS Group is planning to sell Hamburg-based Health AG and Zahnärztekasse AG, which is located in Switzerland. The companies, both of which have a strong position in the market, offer potential buyers the ideal conditions for establishing a pan-European platform in dental factoring. In addition, the innovative practice management software "Hēa" will enable the development of new markets.

'Our two companies are operating in future markets – healthcare and technology', says Klaus Engberding, CEO of EOS. 'To tap into additional business segments and new markets in the health sector we are now seeking the most suitable future owner to actively support the companies during their next growth phases.' With a factoring volume of around EUR 1 billion, Health AG and Zahnärztekasse AG, together, generate sales in the mid double-digit million Euro range.

Sale by auction
Health AG and Zahnärztekasse AG will be offered for sale together. The sale will be managed by means of a structured auction procedure and potential investors will be approached as of June 2018. Interested parties can submit a non-binding offer by the beginning of September. The completion of the transaction is planned for February 2019. In the past, strategic buyers and financial investors have shown great interest in Health AG and Zahnärztekasse AG. EOS has engaged investment bank Lazard (Frankfurt branch) to ensure an efficient sale process.

Health AG
Health AG, consisting of EOS Health Honorarmanagement AG and EOS Health IT-Concept GmbH, is a provider of financial and IT services for the health market. With more than 2000 customers it is one of the market leaders in German dental factoring. Moreover, thanks to its recently introduced practice management software Hēa, the company is now a frontrunner in the e-health segment: Hēa digitises, networks and simplifies all processes for the web-based management of dental practices with a focus on billing. Since its establishment in 2005, the company has evolved from a factoring start-up to an independent company providing financial and technology services.

Zahnärztekasse AG
Zahnärztekasse AG is a financial services provider in the health sector and with 1000 customers has become the market leader in the Swiss dental factoring segment. Its customised and modular based services, combined with an efficient IT infrastructure, relieves medical practice teams of administrative tasks and secures the liquidity of its clients. Since its foundation in 1963 the company has become established as a reliable partner to Swiss dentists.

Contact for press and media:
fischerAppelt, relations GmbH
Email: [email protected], Tel.: +49 40 899 699 347

Majority of EU companies associate new European General Data Protection Regulation (GDPR) with even more data security in the receivables management segment / Companies report extra work above all in administrative and HR areas / More than 10 percent of EU companies not familiar with GDPR

Hamburg, 22 May 2018 – Europe’s companies generally have a positive attitude to the EU General Data Protection Regulation (GDPR), despite the extra work involved. This is because more than two thirds (69 percent) of all European companies that rate the new regulation as relevant to them will benefit from greater data security in receivables management. This applies in particular to Spanish and Danish companies (each 78 percent); in Germany, on the other hand, the figure is 71 percent. These results were the outcome of a special analysis by the EOS Group on the impact of the new regulation in Europe. The survey polled 3,000 companies in 15 European countries. The analysis is part of the EOS Survey ‘European Payment Practices' 2018 conducted by independent market research institute Kantar TNS.

GDPR: Only just over half of EU companies considers it relevant
‘The special analysis shows how important data security and data protection are for European companies,’ explains Kirsten Pedd, Chief Compliance Officer and Chief General Counsel of the EOS Group in Germany. ‘Nevertheless there are still companies that are not familiar with the GDPR at all. There is a risk that the regulation is being taken lightly.’ The EOS analysis shows that 11 percent of the EU companies polled have not known about the GDPR so far. A quarter of the companies surveyed (25 percent) are familiar with the regulation but think it is not very relevant or not relevant at all to their own business. Only just over half (57 percent) of companies polled consider the new regulation to be relevant to them.

Extra work throughout Europe - espacially in the administrative and HR areas
The 57 percent of EU companies that recognise that the GDPR is relevant to them also report that there is extra work involved, primarily affecting administration. As well as an increase in documentation obligations, around two thirds (69 percent) of companies say that there is more bureaucracy as a result of implementing the regulation and an increase in information obligations (65 percent). More than half of the companies (55 percent) also report an increase in the need for personnel resources. A total of 26 percent of companies even state that the GDPR could jeopardise their business model.

Receivables management: companies well prepared
‘Although most experts for receivables management are prepared for the extra work that may be involved, they clearly associate the GDPR with more data security and data protection,’ concludes Kirsten Pedd. ‘Thanks to this clear awareness, companies are well prepared for the implementation of the regulation.’

The GDPR applies to all EU companies from 25 May
The GDPR is a regulation of the European Union that affects private companies and public bodies. The regulation has been in force since 25 May 2016, but all EU countries have to implement it from 25 May 2018. The objective of the regulation is to protect personal data within the EU and ensure free movement of data within the EU single market.

About the EOS survey ‘European Payment Practices’ 2018
In the spring of 2018, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS surveyed 3,400 companies with a minimum of 20 staff and an annual turnover of at least €5 million about prevailing local payment practices, economic developments in their countries, and issues relating to risk and receivables management. The results presented here are part of a special analysis of the survey of 3,000 companies from 15 EU countries: Germany, UK, Spain, France, Belgium, Austria, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland and Greece.

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce. For more information please visit: eos-solutions.com.