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Financial Highlights

 
€ million 2016 (1) 2017 2018 2019
Gross revenues 206,2 213,0 233,5 363,8
Net revenues 188,4 194,9 209,6 323,7
EBITDA 64,3 70,1 84,0 (2) 140,4 (2)
EBITDA margin 31% 33% 36% 39%
EBT 64.2 68,1 80,2 71,2
Net profit 40,4 45,0 52,6 (2) 69,1 (2)
 1. Pro-Forma
 2. Excluding non recurring items 

 
  2016 2017 2018 2019
Asset Under Management (GBV) € 80.9 mld € 76.7 mld € 82.2 mld € 131.5


Managed Portfolio: EUR 131.5 billion

The growth of the Group and the success in the management activities are demonstrated by the increase of the GBV of doValue Group, from 2.5 billion euros in 2000 to over 130 billion euros at the end of 2019. 

At the end of 2019 the Group’s Managed Assets (GBV) in 5 markets (Italy, Spain, Portugal, Greece and Cyprus), amounts to €131.5 billion, markedly up compared to the Managed Portfolio (GBV) of the Italy perimeter of €82.2 billion at the end of 2018.
The Group’s GBV, currently at an on-boarding stage, reached €135.8 billion, inclusive of the mandate signed with Alpha Bank in Cyprus in October 2019 for around €4.3 billion in addition to the forecast of future flows.
 

Revenue: EUR 363.8 million

The business model of the doValueGroup is based on multi-year Servicing Contracts with Banks and Financial Investors generating stable and highly predictable revenues as well as robust cash flows.
doValue business model is independent, available for all banks and investors, and "asset light" that does not envisage the purchase of portfolios of loans.

In 2019, doValue posted Gross Revenues of €363.8 million, up by 56% compared with €233.1 million in 2018, mainly thanks to the contribution of Altamira Asset Management, consolidated in the second half of the year.


EBITDA: EUR 140.4 million

In 2019, EBITDA excluding non-recurring items amounted to €140.4 million, an increase of € 54,0 millions (+62%) compared to €86,5 milions in 2018.
As a percentage of revenues, EBITDA before non-recurring items improved from 37% in 2018 to 39%.
The growth of EBITDA, in line with the objectives of the Business Plan, introduced in November 2019, is due to the positive trend in revenues, the expansion of international markets characterised by a profitability higher than the Group average and the cost containment measures concluded at the end of the year


Consolidated Net Profit: EUR 69.1 million excluding non-recurrinn charges