Financial highlights
Last update: June 12th 2020
Cerved Group operates through three Business Unit: Risk Management, Growth Services and Credit Management and two client segments, Financial Institutions and Corporates.
Income statement
| Consolidated Revenues (€) | As of 31 December 2018 | As of 31 December 2019 |
| Risk Management | 282,0 | 284,1 |
| Financial Institutions | 130,0 | 126,2 |
| Corporates | 152,0 | 158,0 |
| Growth Services | 28,7 | 51,5 |
| Financial Institutions | 1,3 | 8,2 |
| Corporates | 27,5 | 43,3 |
| Credit Management | 147,3 | 185,0 |
| Consolidated Revenues | 458,1 | 520,6 |
| Consolidated Adjusted EBITDA (€)1 | As of 31 December 2018 | As of 31 December 2019 |
| Risk Management | 149,8 | 149,4 |
| Growth Services | 9,0 | 15,6 |
| Credit Management | 53,8 | 71,7 |
| Consolidated Adjusted EBITDA | 212,6 | 236,6 |
| Adjusted EBITDA Margin (%) | As of 31 December 2018 | As of 31 December 2019 |
| Risk Management | 53,1% | 52,6% |
| Growth Services | 31,4% | 30,2% |
| Credit Management | 36,5% | 38,7% |
| Adjusted EBITDA Margin (%) | 46,4% | 45,4% |
| Consolidated Ajusted Net Income2 | As of 31 December 2018 | As of 31 December 2019 |
| Ajusted Net Income (pre-minorities) | 116,7 | 121,9 |
Balance sheet
| Net Financial Position (€) | As of 31 December 2018 | As of 31 December 2019 |
| Net Financial Position | 591,1 | 549,5 |
| Leverage (x) | 2,7x | 2,3x |
| Operative Cash Flow (€) | As of 31 December 2018 | Al 31 dicembre 2018 |
| Operative Cash Flow | 160,1 | 158,1 |
| Cash Conversion3 | 81,3% | 84,9% |
NOTE
1) Adjusted EBITDA excludes the impact of the Performance Share Plan with reference to the plan 2019-2021 and plan 2022- 2024;
2) Adjusted Net Income excludes non-recurring income and expenses, amortisation of capitalized financing fees, amortisation of the Purchase Price Allocation and non-recurring income taxes
3) Cash Conversion calculated as follows: (Adjusted EBITDA-CAPEX)/ Adjusted EBITDA