Date post: | 22-Jan-2016 |
Category: |
Documents |
Upload: | martina-nash |
View: | 214 times |
Download: | 0 times |
STRICTLY CONFIDENTIAL
Debt Purchase at EOSInfluence of provided information by a creditor on price
Sochi, September 20101
STRICTLY CONFIDENTIAL
2
Spain *
Italy
France Austria
Turkey
Romania
Bulgaria
Ukraine
Hungary
SlovakiaCzech
Republic
Poland
Belarus
Denmark
Germany
Nether-lands
Great Britain
Ireland
Switzerland
Mace-donia
Slovenia
Belgium
Sweden
Russia
Croatia
SerbiaMonte-negro
Albania
BosniaHerzeg.
Molda-wien
Latvia
Lithuania
Estonia
EOS acquires debt portfolios in all its markets around Europe as well as in the USACountries in which EOS purchases debt portfolios in Europe
Greece
Norway
Portugal
Finland
* New marekt entry in 2009, no debt purchase yet
STRICTLY CONFIDENTIAL
3
In 2008/09 4,298 employees realised EUR 297m turnover worldwideKey figures EOS Group by region 2008/09
Germany Western Europe Eastern Europe USA and Asia
13%
15%
11%
61%
Turnover by region
26%
11%
7%
56%
Volume of debt purchases1)
40%7%
16%
37%
Employees by region
EUR 297m
EUR 953m
4,298empl.
1) Face value
STRICTLY CONFIDENTIAL
4
Standardized process at EOS regarding calculation and binding offer preparation for portfolios
1. Invitation to bid
3. Binding Offer
local EOS Affiliate receives
Analysis by local EOS Affiliate
Raw data
Recovery forecast
Cost forecast
EOS debtor database
Local Due Diligence if offered/needed
Fact Sheet EOS Affiliate summarizes all qualitative and quantitative facts and the recommended Purchase Price of local EOS Affiliate
Investment decision by EOS Board based on the recommendation of EOS Risk Management
Local EOS Affiliate submits bid to seller
Main process steps binding offer
2. Calculation Process
EOS Risk Management evaluation
Analysis by EOS Affiliate and EOS Risk Management under consideration of
Benchmark portfolios
Regression/mathematical/ cluster analysis
Verification of work out and external transaction costs
EOS Risk Management will give a recommendation regarding the pricing range
Close communication between local EOS Affiliate and EOS Risk Management
Tender documentation
Raw data
Time schedule
A B
STRICTLY CONFIDENTIAL
5
Typical challenges debt purchase
More than 20 years of experience in debt purchase have taught EOS how to master challenges in new or existing markets
Challenge Approach
Lack of realization history available for portfolio valuation due to
New type of receivables
Foreign markets
Apply data from mandate work
Apply data from other markets
Analyses of substantial recovery changes due to regional economic development
Changes of environment for NPL and collections
Monthly monitoring of development
Implement knowledge into calculations
Short timeline Defined processes and skilled staff
Due Diligence not always possible
Limited data available
Apply data from historic deals where applicable
Risk specific discounts
Contractual requirements, i.e. exclusion criteria
STRICTLY CONFIDENTIAL
6
Impact on the price by standardized information
STRICTLY CONFIDENTIAL
7
Impact on the price by standardized information
STRICTLY CONFIDENTIAL
8
Conclusion
Лишь в 10% случаев, агентство в состоянии составить полную картину о выставленном на продажу портфеле.
В случае отсутствия тех или иных данных, агентство производит оценку по пессимистическому сценарию, что приводит к значительному снижению цены портфеля
STRICTLY CONFIDENTIAL
9
Спасибо за внимание