Intrum: Interim report April-June 2019
Solid performance, full European footprint established
Second quarter, April-June 2019:
Consolidated net revenues increased to SEK 3,784M (3,630).
Adjusted EBIT increased to SEK 1,561M (1,196).
Net Debt / Cash EBITDA amounted to 4.3x (3.9x).
Portfolio investments amounted to SEK 1,436M (2,385). The return
on portfolio investments increased to 15 per cent (14).
Net profit increased to SEK 879M (701), and earnings per share
increased to SEK 6.26 (5.33).
Cash flow from operating activities increased to SEK 1,897M
Strategic partnership established in Greece through an agreement
with Piraeus Bank.
Launch of EUR 60M efficiency improvement programme supporting our
Comment by President and CEO Mikael Ericson
I am pleased that we are able to report another good, solid set of
quarterly results, with adjusted EBIT up 31 per cent year-on-year. We
note a clear improvement in margins in our credit management service
line (CMS) and have delivered a stable ROI of 15 per cent within
portfolio investments. This resulted in an EPS of SEK 6.26 and
continues the progress required to achieve our 2020 targets.
During the quarter, we also strengthened our footprint in Southern
Europe through the establishment of a strategic partnership with
Piraeus Bank in Greece. This means that were taking the final step
in securing our leading position in all major European markets.
As part of our efforts to further increase operational efficiency, we
are initiating an efficiency improvement programme, targeting a
further EUR 60M in bottom line impact in 2020. The programme will
include activities such as fully integrating our acquisition of
Solvia into our existing Spanish operations and carefully
prioritising key projects within areas such as IT to ensure we
benefit from the size and scale of our organisation. This will lay
the foundations for an even more competitive and efficient Intrum
For further information, please contact:
Viktor Lindeberg, Head of Investor Relations
+46 (0) 8 546 102 02
This information is such that Intrum AB (publ) is obliged to make
public pursuant to the EU Market Abuse Regulation and the Securities
Market Act. The information was released for publication, through the
agency of the contact person set out above, on July 18, 2019 at 07.00
Intrum is the industry-leading provider of Credit Management Services
with a presence in 24 markets in Europe. Intrum helps companies
prosper by offering solutions designed to improve cash flows and
long-term profitability and by caring for their customers. To ensure
that individuals and companies get the support they need to become
free from debt is one important part of the companys mission. Intrum
has more than 9,000 dedicated professionals who serve around 80,000
companies across Europe. In 2018, revenues amounted to SEK 13.4
billion. Intrum is headquartered in Stockholm, Sweden and the Intrum
share is listed on the Nasdaq Stockholm exchange. For further
information, please visit www.intrum.com.