Why Should I Invest
It is a people-oriented financial institution that provides sustainable growth with its business model carried out with the support of its strong balance sheet, the most up-to-date technology and valuable senior management team and expert, strong collection and support teams.
Successful collection management and high performance in all segments
2.6 Bn TL collection in 2023, a growth rate of 115.5% compared to the same period last year
Accurate pricing ability and operational efficiency provided by a powerful technology infrastructure and a deep database
Collection
(Mn TL) | 31.12.2018 | 31.12.2019 | 31.12.2020 | 31.12.2021 | 31.12.2022 | 31.12.2023 |
|---|
| Retail |
268,5 |
341,3 |
381,1 |
503,2 |
794,1 |
1.597,7 |
| SME |
50,7 |
65,7 |
73 |
99 |
175,0 |
415,3 |
| Corporate |
51,2 |
95,4 |
96,6 |
109,5 |
242,9 |
598,8 |
| Total |
370,4 |
502,5 |
550,7 |
711,8 |
1.212,1 |
2.611,9 |
| Collection Growth | |
|---|
| Retail |
|
%27,1 |
%11,6 |
%32,1 |
57,8% |
101,2% |
| SME |
|
%29,7 |
%11,1 |
%35,7 |
76,7% |
137,3% |
| Corporate |
|
%86,3 |
%1,2 |
%13,4 |
122,2% |
146,5% |
| Total Collection |
|
%35,7 |
%9,6 |
%29,3 |
70,3% |
115,5% |
Sustainable strong profitability supported by a customer-oriented approach
Outstanding Financial Performance
Access to low-cost financing thanks to a solid capital structure and reputable shareholders
| | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|
| Net Interest Expense/ EBITDA |
0,45x |
0,40x |
0,21x |
0,21x |
0,09x |
0,02x |
| Debt (mn TL) |
811 |
767 |
583 |
420 |
281 |
550 |
| Net Debt / EBITDA |
3,0x |
2,1x |
1,5x |
0,8x |
0,3x |
0,2x |
| ERC (bn TL) |
1,9 |
2,4 |
2,4 |
4,1 |
6,8 |
18,1 |
| Investments (mn TL) |
105 |
196 |
19 |
242 |
389 |
1.063 |
Industry leadership that comes with experience, knowledge and economies of scale
- Founded under the name Girişim Varlik Yonetimi, Gelecek Varlik Yönetimi engages in provision of financial services by operating in the field of debt resolution by purchasing overdue receivables of banks and other financial institutions.
- The company was founded by Fiba Holding in 2005 and is headquartered in Istanbul, Turkey
- As of December 31, 2023, the company has 567 employees.
- Ownership: Fiba Holding c.69.9%, Murat Özyegin c.5.6%, Aysecan Özyegin Oktay c.5.6%, free float c.19%
- Since 31st December 2023, the Company is listed in Borsa Istanbul stock exchange with a current market capitalisation of 4.77 Bn TL
- Market Positioning: Gelecek Varlık is the leader in the NPL purchase / servicing space, with a cumulative market share of c.25% and preserves market leadership in total principal amount, total investment & total collection.
- Management: Sezin Ünlüdoğan has been serving as the CEO of Gelecek Varlik since 2016. Top Management has 13+ year Asset Management & 19+ years financial industries experience.