Lowell GFKL Group, has announced its latest company results for its third quarter ended 30 September 2016. Commenting on the results, Colin Storrar CFO said: “I’m pleased to announce the delivery of impressive results by the Lowell GFKL Group. We have seen positive momentum during the third quarter with significant growth in both Cash EBITDA and 120 month ERC year on year. In light of our 2016 year to date performance and recent complementary acquisitions, we look to the future positively.”
The Group continues to perform well, with on-going opportunities to deploy capital in accretive investments. We see structural drivers for market growth in both Germany and the UK and as such the outlook for the Group remains positive. Cash EBITDA for the three months to 30 September 2015 and on a last 12 months basis to 31 December 2015 is defined as both Lowell’s and GFKL’s Adjusted EBITDA, each as defined in the Offering Memorandum dated 14 October 2015. Cash EBITDA for the three months to 30 September 2016 and on a last 12 months basis post 31 December 2015 is defined as collections on owned portfolios plus other turnover, less collection activity costs and other expenses (which together equals servicing costs) and before exceptional items, depreciation and amortisation.