Milan, 19 November 2024. Clessidra Factoring, a leading financial operator specialised in supporting SMEs, also in case of turnaround, and controlled by the Clessidra Financial Group, approved the results for the first nine months of 2024, posting a turnover of €646.5 million, up 39% compared to the same period of the previous year, receivables totalling €215.0 million (+26%) and loans to clients amounting to €190.9 million, up 30%. All the main KPIs are above the Industrial Plan’s targets.
Operating clients numbered 249 and debtors with total receivables managed at 30 September were 1,597.
“In its four years in operation, the Company has achieved excellent results thanks to its outstanding, closely-knit team,” stated Gabriele Piccini, CEO, Clessidra Factoring. “In the third quarter of 2024 in particular, we managed higher-than-expected volumes, generated through constantly increasing commercial opportunities, above all within the Special Situations segment. We continue to focus on the profitability of transactions and on credit risk, which remain at excellent levels.”
Margins also proved positive, with net banking income at €12.4 million, up 46% compared to the previous year — a particularly significant result considering that its growth was more than proportional compared to volumes.
In the first nine months, net value adjustments on receivables were €698 thousand, whereas operating expenses amounted to €7.0 million, up +41% compared to the same period of 2023, in line with expectations. In light of these operating results, profit before taxation stood at €4.7 million, whereas net profit amounted to €3.0 million, increasing by 52% compared to the same period of the previous year. Against the figures at 30 September 2024, annualised ROE was 18.4%.
The credit portfolio confirmed its good quality: bad loans and unlikely-to-pay positions are carefully monitored, accounting for 2.1% of net loans and with an increase in hedges. Total Capital Ratio at 30 September 2024 was 11.9%.
“In light of the market feedback in the first nine months of the year, we are proud of what we are achieving,” added Keoma Garbillo, General Manager, Clessidra Factoring. “The Company is meeting with great appreciation thanks to its operating approach in the most complex business contexts, where responsiveness and personalised transactions are two distinctive elements of excellence. At the same time, Clessidra Factoring is also highly trusted by the banking system, which continues to grant and increase funding lines, thus allowing the Company to further expand and diversify its funding structure, instrumental to properly supporting our customers’ new financing requests.”
