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Earnings Release • Feb 3, 2025
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Earnings Release
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| Informazione Regolamentata n. 1967-5-2025 |
Data/Ora Inizio Diffusione 3 Febbraio 2025 07:00:02 |
Euronext Star Milan | |
|---|---|---|---|
| Societa' | : | DOVALUE | |
| Identificativo Informazione Regolamentata |
: | 200992 | |
| Utenza - Referente | : | DOVALUEN11 - Della Seta | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 3 Febbraio 2025 07:00:02 | |
| : Data/Ora Inizio Diffusione |
3 Febbraio 2025 07:00:02 | ||
| Oggetto | : | doValue strengthens market leadership with new €2.3 billion servicing mandates, accelerating progress toward 2025 targets |
|
| Testo del comunicato |
Vedi allegato
PRESS RELEASE
DOVALUE STRENGTHENS MARKET LEADERSHIP WITH NEW €2.3 BILLION SERVICING MANDATES, ACCELERATING PROGRESS TOWARD 2025 TARGETS
GBV FROM NEW BUSINESS REACHED €5.4BN IN THE FIRST MONTH OF 2025, COVERING NEARLY 70% OF THE FULL-YEAR TARGET
Athens, February 3 rd, 2025 – doValue S.p.A. ("doValue" or the "Company" Euronext Milan DOV.MI), leading strategic financial services, real estate management and value-added services provider in Southern Europe, announces a major milestone in its growth strategy, as its subsidiary, doValue Greece Loan and Credit Claim Management Company S.A. ("doValue Greece"), has entered into a bilateral agreement with certain investment funds managed by Bracebridge Capital, LLC ("Bracebridge"), to secure servicing mandates of €2.3 bn GBV including the last tranche of Alphabet and certain other servicing mandates.
The servicing mandates include a €2.1bn GBV tranche of the Alphabet Secured Corporate portfolio that a fund managed by Bracebridge bought from PQH, acting as special liquidator, and two other smaller portfolios. The Alphabet Secured Corporate portfolio, for which doValue will be the sole and exclusive servicer, includes around 13k loans from 7k borrowers, with total collateral value amounting to €3.1bn and total claims of €7.1bn. The portfolio is expected to be onboarded by February 2025 following the completion of the transaction.
This agreement further strengthens doValue's strategic partnership with Bracebridge and enhances its presence in the Greek market, solidifying its position as a leading servicing platform in Southern Europe.
In order to further align the interests of doValue Greece and Bracebridge, the bilateral agreement envisages an upfront payment of €2.4 million from doValue Greece to a fund managed by Bracebridge for the acquisition of the servicing contract, along with an additional €4.8 million payable over the next four years, subject to certain conditions. The profitability of the contract, also taking into account the total €7.2 million payable to a fund managed by Bracebridge, is expected to be in line with other servicing mandates in the region.
With today's announcement doValue once again demonstrates its leadership in the Greek market as well as its ability to deliver on the targets outlined in the business plan. Indeed, with this transaction, doValue reaches €5.4 billion of Gross Book Value generated by new business in 2025 (not including new business from forward flows), achieving in the first few weeks of the year nearly 70% of the €8 billion target for the entire 2025.
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doValue Group is a European financial services provider offering innovative products along the entire credit lifecycle, from origination to recovery and alternative asset management. With more than 20 years of experience and approximately €137billion gross assets under management (Gross Book Value) as of 30 September 2024, including the contribution of Gardant, following its acquisition in November 2024, it operates in Italy, Spain, Greece and Cyprus. doValue Group contributes to economic growth by fostering sustainable development of the financial system and offers an integrated range of credit management services: servicing of Non-Performing Loans (NPL), Unlikely To Pay (UTP), Early Arrears, Performing Loans, Master Legal, Due Diligence, financial data processing, Master Servicing activities and asset management specialised in investment solutions, dedicated to institutional investors and focused on the sector of impaired and illiquid credits. doValue's shares are listed on Euronext STAR Milan (EXM) and, in 2023, the Group reported Gross Revenue of €486 million and EBITDA excluding non-recurring items of €179 million.
Contacts
Image Building doValue Media Relations Investor Relations Raffaella Casula (+39 02 89011300) Daniele Della Seta Francesca Alberio [email protected] [email protected]