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The Board of Directors approves the First Nine Months Results as of September 30, 2017
San Donato Milanese, 27 October 2017 – The Board of Directors of Cerved Information Solutions S.p.A. (MTA: CERV, the “Company”) – parent holding company of the Cerved Group, the largest information provider and credit servicer in Italy – today approved the First Nine Months Results as of 30 September 2017.
Marco Nespolo, Chief Executive Officer of the Group, commented:
“Results as of 30 September 2017 confirm the group’s positive growth trend in terms of Revenues, Adjusted EBITDA, Adjusted Net Profit and Operating Cash Flow. Financial leverage declined to 2.7x, the lowest level since the IPO.”
“In addition to the continuing growth in all of our business lines, at present we are also focused on the implementation of the important industrial partnerships recently announced with Banca MPS, Quaestio and Banca Popolare di Bari, which will drive growth in terms of assets under management, revenues and EBITDA, further strengthening our position as the leading independent player in Italy in the servicing of performing and non-performing credit exposures.”
“The amendment process of the existing credit facilities that we announced last July was positively completed with the unanimous acceptance of all banks and will lead to a reduction in interest expenses. We will also proceed with the assessment of the potential merger by incorporation of Cerved Group and Consit Italia into Cerved Information Solutions, thereby simplifying the structure of the group and achieving further savings."