In its 2011/12 fiscal year, international ARM conglomerate EOS Consolidated generated pre-tax results considerably exceeding the prior year and held firm against sometimes difficult market conditions.
Earnings before tax in the 2011/12 fiscal year amounted to $106.1 million, compared with $98.2 million in 2010/11. The internationally positioned supplier of receivables management, marketing and risk information as well as payment services increased its consolidated revenue 23.5 percent to $591.2 million.
Hans-Werner Scherer, Chairman of the EOS Group’s Board of Directors said, “Our clients continue to put their trust in the quality of our services. In addition, our acquisitions in recent years have paid off.”
Revenue in the German market increased by 6.3 percent to $268.8 million. Germany is EOS Group’s largest market.
EOS achieved its largest increase in revenue, 48.8 percent, in Western Europe, where the company totalled $124.7 million. The company said that the increase was attributed to the acquisition of Credirec — one of the largest debt buyers in France — the positive development of Spanish subsidiary, EOS Spain, and good debt collection results in Belgium and Austria.
Despite unfavorable developments in overall economic conditions in Eastern Europe, EOS managed to increase its revenue in that region 27.3 percent in the fiscal year. The drivers were positive developments in Croatia and Slovakia, as well as successful debt purchase activities in Hungary, Romania and Russia. EOS’s Eastern European companies increased their consolidated revenues to $96 million
Business developed positively in America as well. In North America, EOS — which trades as EOS CCA, or Collecto/Collection Company of America — generated revenue of $67.1 million in fiscal 2011/12, an increase of five percent. EOS entered the Brazilian market in June 2011 by acquiring 60 per cent of the shares in the debt collection service provider Hoepers Recuperadora de Crédito. In the seven months in which it has been part of EOS, the company generated sales of $31 million.
EOS said that in the current fiscal year, it will continue to pursue the objective of growing organically, particularly in the debt purchase area.