European ARM Firm EOS Group Reports Strong Fiscal Year

Hamburg, Germany-based accounts receivable management and financial information firm EOS Group said earlier this week that earnings increased more than 12 percent in its most recent fiscal year.

The company reported EBITDA of $98 million for the year ended February 28, 2008. In the previous year, EOS reported EBITDA of $87.3 million.

Revenues were also up in the year, according to the earnings report. EOS said that total revenues for the year were $350 million, up 5.3 percent from the prior year. Much of the growth was in Eastern Europe.

“EOS generated a large part of its sales growth with its Eastern European operations, which expanded by more than 75 per cent,” said Hans-Werner Scherer, Chairman of the EOS Group’s Board of Directors, in a press release. Total revenue in Eastern Europe amounted to $51 million. EOS said that it is one of the top three companies in the ARM industry in nearly all the relevant Eastern European markets.

EOS said that its receivables management and arrears management divisions are the highest-earning units in the group. “Our debt collection activities made a stable contribution to our success,” said Scherer. “As in the previous year, EOS was one of the top three debt collection companies in Germany.”

The company said that it had recently launched operations in China, Russia and the Benelux region, partnering with the large banking and insurance company Fortis in Belgium.