Intrum's Annual and Sustainability Report for 2020
In 2020, Europe awoke to a new reality. The Covid-19 pandemic swept across the world with major consequences for individuals and companies, as well as for society in general. Over the year, we did our utmost to help both companies and individuals return to a sound economy and to keep the wheels of Europe turning.
Our purpose as a credit management company played a more important role during 2020. Leading the way to a sound economy for companies, individuals and society places great demands on innovative and practical solutions that generate value for all stakeholders. But it also demands empathy and respectful treatment of the people and companies who have ended up in a debt situation.
We conclude a challenging year, with a pandemic that changed operating conditions for the entire world. I am proud of how we successfully managed to conduct our business by rapidly transitioning to remote working for the vast majority of our employees, and at the same time deliver strong financial results.Anders Engdahl, President and CEO of Intrum
Events during the year
The Covid-19 pandemic
The Covid-19 pandemic affected the whole world in 2020, and Intrum was no exception. Beginning in March and over just a few short weeks, a majority of Intrum’s employees switched to working from home and, by early April, 75% of the employees were working remotely.
Intrum’s business model proved highly resilient – and was also aided by the loyalty and dedication of our roughly 10,000 employees.
In November, Intrum arranged a Capital Markets day at which the ONE Intrum transformation program was presented, together with new financial targets for the upcoming years.
ONE Intrum entails coordinating and simplifying as many systems and working processes as possible, all with the aim of sharpening Intrum’s client offering and laying the foundation for long-term organic growth.
The process of harmonising and streamlining the operations across all markets intensified, particularly in the second half of the year. A structured programme organisation was launched with the objective of creating “ONE Intrum”.
New President and CEO
In October, former CFO Anders Engdahl was appointed as Intrum’s new President and CEO, and Mikael Ericson left the company after four and a half years.
During the year, we also continued our efforts to integrate aspects of sustainability throughout the operations.
A clear strategy was developed, as well as associated sustainability goals and key figures, and these were also presented at the capital markets day.