Lowell reports FY 2022 result

Lowell, credit management servicer  has published the results about FY 2022Colin Storrar, Group Chief Executive Officer, commented:
“These results demonstrate a year of delivery against a backdrop of known consumer pressures. It is testament to the resilience of the business that we can report another year of growth, alongside some key corporate milestones with the delivery of the first publicly rated European ABS and the completion of the Hoist UK acquisition.
We are well positioned to capture the improving market dynamics we are seeing, and the clear financial guidance provided in today’s results will help drive the continued sustainable growth of the Lowell Group”
The main info:
• Cash Income and Cash EBITDA growth of 8% and 7% respectively YoY with Cash EBTIDA
margin held flat at 59% YoY as guided
• Strong collection performance at 101% vs Jun-22 static pool which includes the encouraging
recovery in DACH collections, with 107% collection performance reported in Q4-22
• Issuance of first publicly rated ABS and subsequent deconsolidation resulting in balance sheet
velocity and ability to recycle capital quicker
• Acquisition of Hoist Finance UK facilitates UK earnings growth and increased experience of
banking assets
• Cashflow generative with £146m excess cash generated after Replacement Rate to self-fund
• Leverage within guidance at 4.0x, with step change delivered post year-end following balance
sheet developments providing a PF view of 3.4x
• Release of second Annual Sustainability Report and scorecard demonstrating notable
Key Financial Highlights
• Cash Income of £971m (£898m) – up 8%
• Cash EBITDA of £569m (£531m) – up 7%
• Cash EBITDA Margin of 59% (59%) – held flat YoY as guided
• In market Portfolio Acquisitions of £473m (£403m) – up 17%
(comparable numbers for FY21 in brackets)

To download the full report click here


Antonella Giordano

Press Officer at Credit Village Magazine, Antonella is specialized on topics related to debt collection, credit management and public administration.

Credit Village is a leading company in the field of specialized publishing and event organization for the credit management industry and in all issues and aspects related to the NPE market, including ESG , M&A, Real Estate etc. Credit Village has been the first company in Italy to bring the culture of the credit management industry to the press, events and online, creating the largest community in the sector around itself.