Update on projected ERC
DDM Holding AG (First North: DDM) provides an update of its projected Estimated Remaining Collections (“ERC”) in light of committed investments including the previously announced agreement to acquire a significant portfolio containing secured corporate receivables in Croatia. The Croatian acquisition is made through a Joint Venture structure together with B2Holding where each party holds 50%.
Once completed, the acquisitions will strengthen the overall earnings capacity and several key financial metrics, including ERC.
ERC is expected to increase by about EUR 100 million or 42% to EUR 340 million, from EUR 240 million at the end of December 2018. The majority of the collections are expected to be received in the first three years and thereby accelerate the overall collections profile. DDM expects to be fully invested following the acquisitions.
The Croatian Joint Venture acquisition is subject to regulatory approval and is expected to close in the first or at the beginning of the second quarter of 2019.
For more information, please visit DDM’s website at www.ddm-group.ch or contact:
Henrik Wennerholm, Chief Executive Officer
Tel: +41 79 539 88 59
Fredrik Olsson, Chief Financial Officer
Tel: +41 79 331 30 17
DDM Holding AG (Nasdaq First North, Stockholm: DDM) is a multinational investor in and manager of distressed assets. Since 2007, the DDM Group has built a successful platform in Southern, Central and Eastern Europe, and has acquired 2.3 million receivables with a nominal value of over EUR 3.5 billion. DDM Debt AB (publ) (Nasdaq Stockholm: DDM2) is a wholly owned subsidiary of DDM Holding AG. Arctic Securities is DDM Holding AG’s Certified Adviser (tel: +46 8 44686080, e-mail: firstname.lastname@example.org).