Italian debt collector doValue's nine-month core profit down 18%

doValue

12/11/2024 06:41

Nov 12 (Reuters) - Italian debt collector doValue
 DOVA.MI  said late on Monday its core profit (EBITDA),
excluding non-recurring items, fell 18.3% in the first nine
months of the year to 95.8 million euros  ($101.88 million),
impacted by 6 million euros of provisions for variable
compensation of its former CEO.
    doValue's gross book value (GBV) at the end of September
stood at 116.7 billion euros, up 0.7% yearly, as the bad loans
manager confirmed its 2024 guidance, achieving the annual target
of 8 billion euros of new GBV per year.
    The company agreed in June to buy its rival Gardant and in
its statement on third-quarter results it confirmed that the
transaction was on track to be closed in the fourth quarter.
    
($1 = 0.9403 euros)

 (Reporting by Alessandro Parodi, Romolo Tosiani, editing by
Alvise Armellini)
 ((Alessandro.Parodi@thomsonreuters.com;))