INVESTORS RELATIONS
Cepal is a leading independent loan and receivables manager in Greece.
INVESTOR RELATIONS
Investment approach
Cepal is a leading independent loan and receivables manager in Greece, with portfolios under management of approximately €26.4 billion. Fully licensed by the Bank of Greece since 2016, Cepal was the first company in the industry to be licensed, setting new standards in the loan management sector.
As a pioneer in the Greek market, Cepal has a multi-client platform, flexible and with strong expansion capabilities, which supports all management strategies, based on Greek and international experience. The company’s existing client platform is the result of numerous transfers involving three of the four systemic Greek banks.
Cepal serves both regulated institutions and most active investors in the country, including four HAPS securitizations, with portfolios of approximately €14 billion comprising secured and unsecured receivables.
Services that cover and serve every management need
The company, through its subsidiaries and its participation in joint ventures, was the first fully autonomous operator with a developed technological infrastructure. Today, it is implementing a major transformation programme based on extensive investment in the IT sector. Our services cover the full range of asset management, from underwriting and collection to execution and property management.
The recent strategic partnership with Resolute Asset Management and the creation of RCG strengthen our collateral and real estate management, making us a leading player in the real estate management sector as well.
Cepal’s mission is to contribute substantially to the sustainability of the Greek economy by maximizing the value of assets under management, providing high quality customer service, and ensuring the highest ethical standards. In this context, it was the first manager to complete a secondary HAPs transaction and pioneered the sale of restructured loans to a Greek bank.
Cepal focuses on attracting, training and retaining talented people, integrating technology at the core of its operations and enhancing efficiency.
INVESTOR RELATIONS
IR Approach
At Cepal we promote transparency and cooperation with our investors, with the aim of building strong and trusting relationships with them. Through open and ongoing communication, we provide accurate and timely information about the company and its performance, facilitating informed investment decisions.
Our strategy focuses on creating long-term value for investors through specific growth initiatives, such as implementing strategic investments and improving our processes. By incorporating best practices into our operations, we invest in innovative technologies that strengthen our infrastructure, upgrade our services and ensure our sustainable growth in the market.
Our commitment to ethical and responsible management is a "driver" in our relationship with investors and partners, ensuring the highest standards of transparency and accountability.
With sustainability at the core of our strategy, we systematically seek to implement principles that promote financial well-being, social responsibility and governance - an approach that consolidates our position as a preferred partner in loan and receivables management, enhancing our contribution to the sustainable development of the Greek economy.
INVESTORS
Corporate Highlights
Cepal’s strategic successes and initiatives that strengthen our market position and create value for our investors.
July 2024: Renewal of operating licence
Cepal has successfully renewed its operating licence, as part of the review process initiated by the Bank of Greece – a process carried out in accordance with the new legislative framework concerning credit managers, as set out in Law 5072/2023.
April 2024: Cetus Service Agreement
Cepal signed a service agreement with “CREDITABLE OPPORTUNITIES FUND II SCS RAIF”, which is partnered with “SOUTHROCK II”, to service a portfolio of wholesale credit receivables totalling €687 million. This portfolio was acquired by Cosmos Securitization Designated Activity Company, under the terms of the Loan Sale Agreement dated 22.01.2024, in accordance with the provisions of Law 5072/2023 (the “Cetus Portfolio”).
March 2024: Bond Loan Refinancing
Cepal has issued a common secured bond loan for a total amount of up to €58.2 million, in accordance with the provisions of Law 4548/2018 and Article 14 of Law 3156/2003, and a private placement to the financial institution ALPHA BANK S.A. (“Alpha Bank”). The loan comprises Series A and Series B bonds, and the purpose of the issue is, among other things, to refinance the existing €105 million bond loan with Alpha Bank and the European Bank for Reconstruction and Development (“EBRD”), as well as to finance Cepal’s working capital needs.
February 2024: Omega Portfolio Transition Service
In the context of the Securitisation Transaction of the receivables of Attica Bank S.A. and the reassignment to it of the receivables from non-performing loans with a total book value of €1.2 billion (“Omega Portfolio”), Cepal signed a transitional agreement to be appointed as transitional servicer for part of the total receivables of the Omega Portfolio, in accordance with the provisions of Law 5072/2023.
January 2024: Pearl Services Agreement
Cepal has signed a service agreement with Hoist Finance AB (Publ) to service a portfolio of receivables totalling €1.94 billion, which Hoist has acquired from special purpose entities a) COSMOS SECURITISATION DESIGNATED ACTIVITY COMPANY, b) GALAXY II FUNDING DESIGNATED ACTIVITY COMPANY and c) ORION X SECURITISATION DESIGNATED ACTIVITY COMPANY, pursuant to the relevant Loan Portfolio Sale Agreements, in accordance with the provisions of Law 5072/2023 (the “Pearl Portfolio”).
COMPANY STRUCTURE
BoD Members
Artemios Theodoridis, Chairman and Executive Member of the Board of Directors, is a graduate of the Athens School of Economics and Business (Bachelor of Economics – 1981) and the University of Chicago, IL, USA (Master of Business Administration – 1983).
He was a member of the Boards of Directors of Alpha Bank S.A. from 2005 to 2021, as well as of Alpha Bank Albania SHA and ABC Factors Business Claims Agencies S.A. (100% subsidiary of Alpha Bank Group). He also participated as Chairman of the Coordinating Committee of Markets and Capital of the Union of Greek Banks. He joined Cepal Hellas in 2020 and has since been elected Chairman of the Board of Directors with executive responsibilities in both Cepal Hellas and Cepal Holdings.
Theodoros Athanasopoulos, Chief Executive Officer and Executive Member of the Board of Directors, is a graduate of the University of Piraeus where he received his degree in Finance and Banking Management and holds an MSc in Banking and Financial Management from the University of Piraeus.
He was Director in the Corporate NPL (Non-Performing Loans) Department at Alpha Bank S.A. from 2011 to 2014 and Acting General Manager in the Corporate NPL Department from 2014 to 2020. In 2020 he joined the staff of Cepal Hellas as Managing Director. He was elected member of the Board of Directors of Cepal Hellas and Cepal Holdings in December 2023.
Kenneth John Stannard, Non-Executive Director, has served as Chief Executive Officer and General Manager in financial services companies for more than 20 years.
From 2012 to 2020, he was CEO and a member of the board of Cabot Credit Management Group, one of the largest credit management service providers in Europe. He is a member of the Board of Directors of Cepal Hellas and Cepal Holdings from 2021.
Miriam Ceribelli, Non-Executive Board Member, works as Principal of Structured Products at Davidson Kempner European Partners LLP, of which Airmed Finance DAC is a member – which holds, respectively, 80% of the equity of Cepal Holdings.
He holds a Bsc, International Trade from the Università degli Studi di Bergamo (2010) and a Msc, International Business Economics from the University of Westminster (2012).
Plutarchos Sakellaris, Non-Executive, Independent Director, is a Professor at the Athens University of Economics and Business since 2002 in the fields of Macroeconomics, Banking, Risk and Derivatives Management and Financial Institutions Management. He holds a PhD in Economics from Yale University (1992). He is a Member of the Board of Directors, Chairman of the Remuneration and Nomination Committee and member of the Audit Committee of ElvalHalcor S.A. since 2021 and has been an independent member of the Board of Directors of Titan S.A., Credit M S.A. and Hellas Capital Leasing. From 2008 to 2012 he was Vice Chairman and member of the Steering Committee of the European Investment Bank.
He has been elected as Independent Non-Executive Director of the Board of Directors of Cepal Hellas since 2018 and as Chairman of the Audit Committee since its establishment in 2020.
INVESTORS
Financial Data
We ensure transparency in our relationships with investors, taking responsibility for our decisions and creating bonds of trust with all of our partners.
€26bn AuMs
Similar to 2022
850 FTEs
Decrease 7% y-o-y
€135m. profit
excl. pass thourgh
€61m. EBITDA
margin 45%
22m. PAT
18% y-o-y reduction
€253m. equity capital
Yield of 9,5% for 2023
21m. cash
€40m. for Q2 2024
0.1x Net Debt / EBITDA
Corporate debt refinanced in Q2 2024
See in detail the financial results of all years of operation of Cepal
STAY UPDATED
Corporate Announcements
Latest developments and important news from Cepal, reflecting our strategic path and the values that guide our every action
