Presentation of Intrum's results for April-June 2021 

Intrum announced its interim results for April-June 2021 on 22 July, 2021 at 7:00 a.m. CET. The report was presented in a audio cast the same day.

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Presentation of Intrum's results for April-June 2021

Intrum announced its interim results for April-June 2021 on 22 July, 2021 at 7:00 a.m. CET. The report was presented in a audio cast with telephone conference at 9:00 a.m. CET the same day.

Anders Engdahl, President & CEO, and Michael Ladurner, CFO, presented the results.

 

Comment by President and CEO Anders Engdahl

“During the second quarter we achieved record cash collections in our Portfolio Investment segment and accelerated capital deployment. To date we have circa SEK 6 bn in committed capital for the year at attractive returns. We have closed a number of important new servicing agreements including a landmark partnership with Svenska Handelsbanken in Sweden, completing our servicing coverage of the six largest Nordic financial institutions as well as a sizeable servicing contract with DEVA Capital, adding assets to our Italian platform.

During the quarter we recorded a foreign exchange adjusted cash revenues growth of 17 per cent and cash EBIT growth of 9 per cent year over year. Group leverage remained at 4.1x net debt to RTM cash EBITDA and the RTM cash EPS at amounted to SEK 26.22. The RTM cash RoIC was 8.4 per cent compared to 6.8 per cent last year.

Our transformation program towards ONE Intrum is progressing according to plan. In June we opened our third and final global front office in Malaga, Spain, and now the global front offices cover eleven countries. We are entering a period with full focus on the ONE Intrum program as the ongoing migration is now entering a more intense phase, significantly increasing the volume on the global platform. This fast paced migration phase will accelerate the transformation to one global platform and demonstrate our increased efficiency and ability to serve our clients globally.

During the quarter we have taken new steps to continue to lead the way to fair and ethical collection. As part of our efforts to treat everyone in line with our values, we have developed and applied a set of guidelines across our operations, the Treating Customers Fairly Instruction. It helps to ensure that we conduct our operations in an ethical way - but we also encourage our industry peers to do the same. I hope these principles can form the basis of a future industry standard.

With a backdrop of higher savings rates amongst European consumers, increasing optimism amongst our clients and high level of economic stimuli, our business environment is set to continue to gradually improve throughout the year. I sincerely hope that the numerous steps we see across Europe to open up the economies indicate normalisation and with the increasing optimism amongst our clients, we are cautiously optimistic about the pandemic recovery in general and a gradual improvement of our business climate in particular.“


Contact person

Emil Folkesson

Director Treasury and Investor Relations

ir@intrum.com