- First quarter seasonally slow - in line with expectations and continued high commercial activity
- Adjusted Income and adjusted EBIT both up 8 percent vs. Q1 '23, driven by M&A in Servicing, specifically in Middle and
Southern Europe - Leverage ratio flat at 4.4x, including 0.1x unfavourable FX movement
- Progressed on several strategic initiatives including: (i) Ophelos operational in
the Netherlands , (ii) realised savings of SEK ~500 M in Q1 '24 (out of theSEK 800 M implemented in 2023), and implementing measures to save an additional SEK ~700 M in 2024 and 2025 and (iii) debt capital realignment and front-book discussions ongoing
Financial results in brief, January-
Adjusted income increased to
SEK 4,891 M (4,524)Adjusted EBIT increased to
SEK 1,155 M (1,068)Cash EBITDA increased to
SEK 2,782 M (2,728)External Servicing income growth of 16 per cent
Servicing adjusted EBIT margin of 15 per cent RTM Q1 `24 (19)
Investing book-value excluding revaluations stood at
SEK 37 bn (37)Available liquidity at the end of the quarter was
SEK 9 bn (17)
Presentation of the interim report
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Comment by President & CEO
"The seasonally slow first quarter is in line with expectations. During the quarter we continued to focus our efforts on achieving the goals presented at our Capital Markets Day: to become increasingly client-centric, capital-light while pursuing an operating model driven by technology and automation.
With continued inflation and need to improve margin, we continue to explore further cost-cutting measures. On top of the
Intrum's commercial activity continued to accelerate, with signed annual contract value ("ACV") increasing 11 percent to
Our Investing segment, recorded
During the last 12 months, Intrum helped 4.9 million customers to become debt free and collected
In March, we launched Ophelos in
In addition, I am delighted to announce the recruitment of our incoming CFO, Johan Åkerblom, and I look forward to welcoming him later in 2024. I am eager to continue our transformation journey with all of my outstanding colleagues at Intrum."
For further information, please contact:
ir@intrum.com
This information is information that
Intrum is the industry-leading provider of Credit Management Services with a presence in 20 markets in
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