Lowell announces growth despite consumer challenges

European credit management services specialist, Lowell has announced its full-year results for the 12 months ended 31st December 2022.

The company showed that cash income and cash EBITDA growth of 8% and 7% respectively YoY with Cash EBTIDA margin held flat at 59% YoY as guided.

Lowell also showed a strong collection performance at 101% vs Jun-22 static pool which includes the encouraging recovery in DACH collections, with 107% collection performance reported in Q4-22.

The company says that is encouraged by the continued resilience of the business, especially in the UK against the backdrop of publicised UK consumer pressures.

Colin Storrar, Group Chief Executive Officer at Lowell said “These results demonstrate a year of delivery against a backdrop of known consumer pressures. It is testament to the resilience of the business that we can report another year of growth, alongside some key corporate milestones with the delivery of the first publicly rated European ABS and the completion of the Hoist UK acquisition.”

“We are well positioned to capture the improving market dynamics we are seeing, and the clear financial guidance provided in today’s results will help drive the continued sustainable growth of the Lowell Group”