Third solid Quarter in a row
- Consolidated net revenues for the third quarter of 2018 increased to SEK 3,180 M (2,986).
- Operating earnings excluding non-recurring items, items affecting comparability and revaluations (“EBIT adjusted”) increased to SEK 1,095 M (999).
- Net Debt / Cash EBITDA decreased to 3.8 (3.9)
- The carrying values of portfolio investments have decreased marginally since the end of the preceding quarter. Portfolio investments for the quarter amounted to SEK 927 M (1,177).
The return on portfolio investments was 14 percent (15).
- In Credit Management, revenue growth was 3 percent and the operating margin was 27 percent excluding non-recurring items.
Comment by President & CEO Mikael Ericson
“We are maintaining our momentum and achieved 10 percent growth in EBIT adjusted for the third quarter. The strength of a well-balanced business model and regional diversification enables us to offset the short-term headwind that we face in Spain, with strong results from other regions. We have grown for the third consecutive quarter, achieving 13 percent adjusted EBIT growth to date this year. Our strategy delivers”, said Mikael Ericson, President and CEO of Intrum.
“We are in the middle of an intensive period for Portfolio Investments and opportunities in Credit Management, and we expect to sign several interesting contracts in the upcoming months. Our solid financial position, together with an increased focus on the Credit Management operations, will enable us to deliver on our 2020 goals of long-term growth, favorable returns, decreased debt and higher earnings per share”, added Ericson.
The interim report and presentation are available at intrum.com/investors.
Mikael Ericson, President & CEO, and Danko Maras, CFO, will comment the results in a live webcast on October 26 at 9:00 a.m. CET.
The presentation will include further details about the transformational partnership with Intesa Sanpaolo.
To listen in to the conference live, please dial:
+44 20 3008 9817 (UK)
+46 8 5063 9549 (SE)
+1 855 831 5947 (US)
Link to live webcast
For further information, please contact:
Thomas Moss, Group Business Control & Investor Relations Director, tel: +46 8 546 102 02
This information is such that Intrum AB (publ) is required to disclose pursuant to the EU’s markets abuse directive and the Securities Markets Act. The information was released for publication on October 26, 2018 at 07.00 a.m. CET.