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Growth Strategy and Equity Story

Strategy and Equity Story

doValue Group is the first operator in the management of loans and real estate assets (“Servicing”) for Banks and Investors, with assets under management amounted to about €158 billion as at the end of 2020 (GBV - gross book value) up by about 20% from the end of the previous period (€131 billion).

doValue is the market leader in Italy, Iberian Pensinusla, Greece and Cyprus, markets characterized by significant growth opportunities, given the high levels of non-performing assets and the strong interest from international investors.
Banks and Investors entrust doValue with the management of loans and real estate owned by them both through long-term partnerships and through spot contracts as part of the various investment transactions in portfolios of non-performing assets.

doValue is characterized by an independent servicer business model and “asset-light ” which applies a simple remuneration model based on fixed and variable fees without contemplating direct investments in loan portfolios or real estate assets and without direct balance sheet risks.
As regards the various non-performing assets, doValue focuses on those segments in which it is possible to carry out activities with higher added value such as: management of medium-large bank loans, of corporate origin and secured by real estate guarantees. In addition, doValue is able to assist banks from the early stages of performing loan management (Early Arrears and UTP) and also in the optimal enhancement of real estate portfolio from credit recovery actions (REO).

 
€ 418,2 mln revenues
as at 31 December 2020
€ 158 mld GBV
as at 31 December 2020
3,230 employees
as at 31 December 2020

Since 2018 doValue has gone through a phase of expansion and diversification in the Southern European market, starting a process of transformation and integration with the entry in the Greek market through the acquisition of a mandate contract executed with the four systemic local banks and later in the wider southern European market with the acquisition in 2019 of Altamira Asset Management, Servicer active in Spain, Portugal and Cyprus and a leader in the management of real estate assets.
In the Italian market, doValue’s growth continued with the acquisition of new management contracts executed on behalf of Banks and Investors and particularly with the achievement of a leadership position in servicing of securitisations backed by state guarantee (“GACS”).
At the end of 2019, doValue announced the acquisition of Eurobank-FPS, a Greek servicer with managed assets of over €26 billion, which allowed the Group to become a leader also in the promising Greek market. The completion of the FPS acquisition in June 2020, today doValue Greece, represents a further step forward in the achievement of the Group’s 2020-2022 Business Plan, which seeks to strengthen doValue’s leadership in the servicing market in southern Europe using a business model that does not require direct investments in asset portfolios and pursuing increasingly greater diversification in the credit value chain.
In August 2020 doValue has also completed the issue of a senior guaranteed bond loan for a total principal amount of 265 million euros at a fixed rate of 5.00% per annum, with an issue price of 98.913%, reserved for institutional investors (maturity on 4 August 2025).

The doValue Group operations are focused on the provision of services to Banks and Investors over the entire life-cycle of loans and real estate assets. The Group makes available to its customers makes an IT infrastructure developed in over 20 years of experience: the wealth of data of doValue makes it possible to optimize the credit management process, improving predictive skills and the ability to anticipate market trends.

doValue and Italfondiario, in their capacity as Special Servicers, have received the following ratings: “RSS1-/CSS1-” by Fitch Ratings, and “Strong” by Standard & Poor’s, which are the highest ratings assigned to Italian operators in the sector. They have been assigned to doValue and Italfondiario since 2008, before any other operator in this sector in Italy. In 2017, doValue was also assigned a Master Servicer rating of  RMS2/CMS2/ABMS2” by Fitch Ratings, which was also improved by a notch in 2019. In July 2020, doValue received the BB Corporate credit rating, with stable outlook by Standard & Poor’s and Fitch.
About ESG Ratings, as of December 2020, doValue was evaluated by MSCI, Sustainalytics and Vigeo Eiris.