Financial facts

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

2018 in brief

  • Consolidated net revenues for 2018 increased to SEK 13,442 M (9,434). On a pro forma basis, revenues for 2017 amounted to SEK 12,219 M.

  • Operating earnings amounted to SEK 3,978 M (2,728). On a pro forma basis, operating earnings for 2017 amounted to SEK 3,489 M.

  • The operating earnings of SEK 3,978 M include non-recurring items (NRIs) of SEK –742 M (–397), items affecting comparability of SEK 132 M (0) and revaluations of SEK 88 M (–3). Accordingly, operating earnings excluding non-recurring items, items affecting comparability and revaluations (“EBIT adjusted”) increased to SEK 4,500 M (3,128).On a pro forma basis, operating earnings (EBIT) for 2017 amounted to SEK 3,925 M.

  • Net earnings for the year amounted to SEK 1,943 M (1,503) and earnings per share totaled SEK 14.18 (14.62).

  • Cash flow from operating activities amounted to SEK 6,327 M (4,535).

  • The carrying value of portfolio investments, including participations in joint ventures but excluding real estate, increased by 40 percent since the end of the preceding year. Portfolio investments for the year excluding acquisition of real estate from Ibercaja) amounted to SEK 11,854 M (pro forma 7,857). The return on portfolio investments was 15 percent (16) including revaluations and excluding revaluations.

  • In Credit Management, revenue growth on a pro forma basis was 5 percent and the service line margin was 27 percent excluding non-recurring items.

  • The Board of Directors proposes a dividend of SEK 9.50 per share (9.50), corresponding to a total of SEK 1,247 M (1,250).

Financial Objectives

Business goal

As the undisputed market leader, our purpose is to lead the way towards a sound economy. Our mission is to help companies prosper by caring for their customers, in a considerate manner, to meet their commitments and pay off their debts at an individual pace. Our vision is to be trusted and respected by everyone who provide or receive credit.

Financial goals

As of December 2017 we have defined and set four financial targets for Intrum to better reflect the Group’s current composition and our expected future development based on our operational targets and strategies:
Financial targets.pdf

Dividend policy

Intrum's dividend policy is that shareholders should, over time, obtain a dividend or equivalent that averages at least half of the net earnings for the year after tax. Decisions relating to dividend proposals will take into account the Company’s future financial development, capital requirements and status in other regards. For 2018 the Board has proposed a dividend of SEK 9.50 per share (SEK 9.50 per share), which is equivalent to approximately 67 percent of net earnings.

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.

Return 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 organisation.

Restated figures from 2018.10.12 (ENG)

Restated figures from 2012-2013 (Eng)

Restated figures from 2012-2013 (Swe)

Restated figures 2009-2010 (ENG)

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 2017.06.12

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. Published 2017.07.14

Historic proforma financial data


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Investor Relations contact

Louise Bergström

Head of Investor Relations

+46 8 546 103 42

ir@intrum.com