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Financial Facts

Including financial objectives, key figures, financial overview, definitions, restaded figures and new cost allocation.

2016 in brief 

  • Consolidated revenues during the 2016 full-year amounted to SEK 6,088 M (5,628).

  • Operating earnings (EBIT) amounted to SEK 1,978 M (1,624).
    The operating earnings include revaluations of purchased debt portfolios amounting to SEK 49 M (31). The operating margin excluding revaluations was 32 percent (28).

  • Earnings also included non-recurring items with a positive impact on operating earnings of SEK 54 M. These relate to a positive effect of SEK 84 M from the sale of purchased debt portfolios.
    Earnings were further burdened by transaction costs of SEK 30 M related to the planned merger with Lindorff.

  • Net earnings for the year amounted to SEK 1,468 M (1,172) and earnings per share were SEK 20.15 (15.92).

  • Cash flow from operating activities amounted to SEK 3,374 M (2,905).

  • Investments in purchased debt during the year amounted to SEK 3,100 M (2,428).

  • The Board of Directors proposes a dividend of SEK 9.00 (8.25) per share, corresponding to a total of SEK 651 M (597).

 


Financial Objectives

Business goal

Intrum Justitia’s goal is to promote business and help create sound economies by making business more easy, secure and fair. We are a leading player in Europe in credit management and financial services, and our goal is to be one of the three largest players in every local market.

Financial goals

As of 2013, we have introduced three financial targets for Intrum Justitia to better reflect the Group’s current composition and our expected future development based on our operational targets and strategies.

  1. Earnings per share shall rise by at least 10 percent annually Growth in earnings per share is the measure that, over time, correlates best with the growth in value for Intrum Justitia’s shareholders. Earnings per share and growth in this measure encompass all aspects that drive shareholder value – organic growth, margin trend, financing structure, tax burden, dividend growth, etc. We believe that it is realistic to reach or exceed a target of 10 percent growth.
  2. Return on purchased debt shall be at least 15 percent annually Over the next few years, it is our assessment that a large portion of Intrum Justitia’s growth will be generated in purchased debt, where we believe there will be good market growth. Such growth should not, however, be achieved at the expense of profitability – Intrum Justitia has always prioritized disciplined pricing with a stable and high return.  
  3. Net debt in relation to operating earnings before depreciation and amortization shall be within the interval 2.0–3.0 Intrum Justitia shall maintain a responsible financial structure, taking into account the operations’ risks, volatility and access to capital on credit markets. The central measure for assessing the level of the Group’s borrowing is to relate net debt to cash flow, with operating earnings before depreciation and amortization being judged to provide the best view and being the most generally accepted measure of financial capacity among creditors. Intrum Justitia has very strong cash flow from operations by means of its stable earnings without capital being tied up in Credit Management and because purchased debt has a short maturity in terms of cash flow.

Dividend goal

Intrum Justitia’s Board of Directors intends to annually propose a dividend or its equivalent to shareholders that over time averages at least half of the net earnings for the year after tax. Decisions relating to dividend proposals take into account future revenues, financial position, capital requirements and the status in general.


Key figures


Financial overview


Definitions

Average number of employees
Average number of employees during the year, recalculated to full-time positions

Beta
Measure of the share price's fluctuation in relation to the market as a whole, in the form of the OMX Stockholm Index, over the course of the year. Changes that precisely follow the index produce a beta of 1.0. A figure below 1.0 means that the changes in the share price have been smaller than those in the index.

Dilution 
Theoretical impact of outstanding employee stock options on the number of shares and shareholders' equity.

Dividend payout
Dividend as a percentage of net earnings for the year.

Earnings per share
Net earnings for the year attributable to the Parent Company's shareholders divided by the average number of shares during the year.

Net debt
Interest-bearing liabilities and pension provisions less liquid funds and interest-bearing receivables.

Net debt in relation to operating earnings before depreciation and amortization
Net debt divided by the operating result before depreciation of tangible assets as well as amotization of Purchased debt.

Operating cash flow per share
Cash flow from operating activities divided by the average number of shares during the year.

Operating earnings
Earnings before net financial items and income tax.

Operating margin
Operating earnings as a percentage of revenues.

Organic growth
Increase of net revenues in the continuous business, excluding any impact of mergers and aquisitions, revaluations of Purchased Debt and chenges in currency exchange rates. 

P/E Price/earnings ratio
Year-end share price divided by earnings per share before dilution.

P/S Price/sales ratio
Year-end share price divided by sales per share.

Retun on Purchased debt
The service line earnings divided by the average value of Purchades Debt. 

Revaluations
Operating revenue derived from the increase or decrease in the carrying value of a Purchased Debt portfolio that is related to changes during the period in extimates of future cash flows.  

Revenues
Variable collection commissions, fixed collection fees, debtor fees, guarantee commissions, subscription revenue and income from purchased debt operations.

Yield
Dividend per share divided by the year-end share price.


Restated figures

Here you can download our restated figures from a new regional organization.

Download restated figures from 2012-2013

Restated figures 2012-2013 English

Restade figures 2012-2013 Swedish

Download restated figures from 2009 to 2010.

Restated figures 2009-2010 


New cost allocation

Historical quarterly figures for 2011 and 2010 in which the operating results for Credit Management and Financial Services have been recalculated in accordance with the new principle. Published 2012.03.27.

Restated figures 2010-2011


Financial and other information related

In connection with its announced combination with Lindorff, Intrum Justitia has made available certain financial and other information concerning Intrum Justitia, Lindorff and the combined group. Published 2017.06.12

Investor report published 12th of June 2017

Historic pro forma financials for Intrum Justitia and Lindorff

In order to provide further information on the combination of Intrum Justitia and Lindorff,  historic proforma financial development for the combined unit is available here. 

Historic proforma financial data