Intrum : Report Q124 Eng

Interim report

First quarter 2024 highlights

• Unadjusted Accounting Metrics for 2023 and 2024 throughout the report have been adjusted to remove discontinued operations, mainly related to the portfolio investment back-book sale agreed in Jan'24, and are aligned to the Primary Financial Statements on page 12 onwards
• Income up 14% vs. Q1'23 driven by Servicing segment, specifically Middle and Southern Europe
• EBIT for the quarter reduced to SEK 470 M vs. SEK 643 M in 2023 driven by costs in excess of income
• Costs have increased to SEK 3,946 M vs. SEK 3,269 M in Q1'23 due to SEK 148 M of costs to execute the extended cost saving program rec- ognised ahead of savings, M&A, inflation and fx
• Adjusted Income was up 8% vs. Q1'23 driven by M&A in our Servic- ing segment
• Adjusted EBIT increased by 8% vs. Q1'23 again driven by M&A in Servicing
• Leverage ratio flat at 4.4x, including 0.1x unfavourable FX movement
• Progressed on several strategic initiatives including: (i) Ophelos oper- ational in the Netherlands, (ii) realised savings of SEK ~500 M in Q1 '24 (out of the SEK 800 M implemented in 2023) and implementing mea- sures to save an additional SEK ~700M in 2024/25 and (iii) debt capital realignment and front-book discussions ongoing

First quarter, 2024		First quarter		12 months	Full year
				Rolling
	Jan-Mar	Jan-Mar	Change
SEK M, unless otherwise indicated	2024	2023	%	2023	2023
Unadjusted Accounting Metrics1
Income	4,257	3,748	14	17,347	16,838
EBITDA	793	960	-17	4,072	4,237
EBIT	470	643	-27	2,523	2,694
Net Income/(Loss) attributable to Parent company's shareholders	-238	23	-1,146	-449	-188
Earnings/(Loss) Per Share, SEK	-1.98	0.19	-1,147	-3.72	-1.56
Adjusted Accounting Metrics
Adjusted Income	4,891	4,524	8	20,368	20,000
Adjusted EBITDA	1,447	1,391	4	7,274	7,219
Adjusted EBIT	1,155	1,068	8	5,876	5,786
Adjusted Net Income/(Loss) attributable to Parent company's shareholders	-144	133A	-210	840	1,114
Adjusted Earnings/(Loss) Per Share, SEK	-1.20	1.10	-210	6.95	9.24
Adjusted Cash Metrics
Cash Income	6,203	5,749	8	25,838	25,385
Cash EBITDA	2,782	2,728	2	12,910	12,854
Investing Segment: Capex Deployed	371	1,664	-78	4,213	5,508
Cash EBITDA (proforma)				12,975	13,001
Net Debt before Other Obligations/RTM Cash EBITDA (proforma), x				4.4	4.4

1) 2023 comparatives have been restated in respect of discontinued operations throughout the report, see page 5 for a detailed breakdown

Q1 in brief Comment by the President and CEOKey financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum

Intrum  Interim report, first quarter 2024 2

Navigating business development and proactive capital management in a seasonally soft quarter

As the first quarter of 2024 concludes, we steadfastly commit to the strategic direction presented at our Capital Markets Day. We are working to become increasingly client-centric and capital-light while pursuing an operating model driven by technology and automation. This is to ensure an efficient and scalable platform enabling the ambitious growth trajectory of our Servicing business. We continue to focus our efforts on achieving these goals while evaluating further measures to improve our financial profile. To that end, we initiated a holistic review of our debt capital structure and have continued to drive and implement extensive cost-cutting measures.

First quarter seasonally slow - in line with expectations and further cost initiatives

First quarter income stood at SEK 4,891 M (4,524) translating into an 8% increase. Adjusted EBIT increased to SEK 1,155 M (1,068) an 8% increase compared to Q1 last year. Cash EBITDA for the group was up 2% amounting to SEK 2,782 M (2,728).

Against a challenging economic backdrop, we have continuously explored further cost-cutting measures during the quar- ter. As we previously communicated, our cost program and cash extractions, consistent with the ongoing review of our financial profile, remain a high priority for Intrum.

Therefore, on top of the SEK 800 M cost savings implemented in 2023, we have identified additional measures that will potentially target cost savings of SEK ~400 million in 2024 and an additional SEK ~300 M in 2025. These savings will ensure a leaner group structure, better cost visibility and follow-up in local markets plus an enhanced focus on projects that tangibly improve profitability.

To date, we have realised SEK ~500 M of cost savings, and

we continue to implement additional measures to extensively address the organisation's cost base.

Continued high commercial activity

With regards to commercial development, we have so far in 2024 signed annual contract value ("ACV") of SEK 278 M (251). This increase is partly driven by a more challenging economic environ- ment, resulting in an enduring need for Intrum's services. Notably, we won contracts with a major BNPL company in Norway and a consumer finance company in the UK and increased our mandate with EDF in France. Growing external Servicing income remains a key part of our commercial strategy and the contracts we have won so far in 2024, combined with the extensive servicing mandate for Cerberus (related to the asset sale), are a testament to the improvements we are making in this regard.

Regarding Investing, we delivered Cash EBITDA of SEK 2,466 M and invested SEK 371 M at an average unleveraged IRR of 17%. During the quarter, we recorded SEK 3,243 M in gross cash collections or 100% against the active forecast. Consistent with our past record of overperformance, these collections represent 109% of original underwriting forecast, demonstrating the resilience and strong cash generation of our back book despite operating in a challenging economic environment.

Optimising our capital structure

Our capital structure is of the highest priority to Intrum's management team and the board. We have already taken several actions that will meaningfully reduce our leverage over the medium term and strengthen our financial profile.

Pro-forma for the asset sale our net estimated remaining collec-

"Implementing Ophelos is a major step towards enhancing the development of automated services and a more profitable platform"

Q1 in brief Comment by the President and CEOKey financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum

Intrum  Interim report, first quarter 2024 3

tions ("ERC") represents 84% of our outstanding net liabilities. In addition, we have sufficient liquidity to repay more than 90% of our 2024 and 2025 maturities. Our ambition has always been to refinance and/or extend parts of our existing outstanding debt. However, given current market conditions, refinancing is not feasible on terms that are attractive to us.

We have, therefore, proactively initiated a holistic and comprehensive review of our debt capital structure and are assessing all available options to reshape our liability structure to align with our business plan and anticipated medium term cash flow.

The review is ongoing, and we are considering all options. At the same time, we are cooperating closely with creditors to ensure the best and most favourable outcome for all parties.

Important steps toward operational excellence

In the first quarter, we have launched Ophelos in the Netherlands serving as the latest testament to our ongoing tech transition. We are already receiving payments through this channel in this country. Implementing Ophelos is a major step towards enhancing the development of automated services and a more profitable platform while allowing us to become increasingly relevant to our customers and their needs through advanced technology. Our objective is to evaluate lessons learned from implementing Ophelos in the Netherlands and begin introductions in at least two additional countries during 2024. Ophelos will shorten the time, effort and cost to collect in our Servicing franchise while enhancing the customer experience. As we receive more pay-

ments through Ophelos we will gather valuable data as the platform uses AI-powered decision engine. This means that Ophelos, already a effective collection tool, will get more efficient over time.

Our journey continues

During the first quarter, we initiated activities and measures consistent with our stated strategic direction on multiple fronts. We have taken the necessary steps to optimise our capital structure while ensuring continued commercial improvement to our underlying business.

As I mentioned last quarter, this far-reaching transformation demands increased focus and accountability within the management group. Thus, I am delighted that we recently announced the recruitment of our incoming CFO, Johan Åkerblom. With his international background, including key senior positions in the financial services industry, Johan is a perfect match for Intrum, and I look forward to welcoming him later in 2024.

The road ahead is long, but the steps taken during this quarter reinforce my confidence that the path is correct, and I am eager to continue the journey with all of my outstanding colleagues at Intrum.

Stockholm, April 2024

Andrés Rubio

President & CEO

"During the first quarter, we initiated activities and measures consistent with our stated strategic direction"

Q1 in brief Comment by the President and CEO Key financial metricsSegment overview Financial overview Financial reports Other information Definitions About Intrum

Intrum  Interim report, first quarter 2024 4

Key financial metrics

Quarterly development

EBIT for the quarter reduced to SEK 470 M (643) vs. Q1'23 due to costs to execute the extended cost saving program. Adjusted Income and Adjusted EBIT increased 8% to SEK 4,891 M (4,524) and SEK 1,155 M (1,068) respectively for the quarter driven by M&A activity in Servicing. Adjusted EBIT margin remained flat at 24% (24).

Adjusted Direct Costs increased to SEK 2,479 M (2,184), which represents 51% (48) of Adjusted Income, as a result of an increasingly challenging collection environment that has meant the level of activity required to achieve the same amount of collections as in previous years is higher. Adjusted Indirect Costs have increased to SEK 1,334 M (1,317), which represents 27%

1. of Adjusted Income, driven by M&A and IT transformation. Costs have also been impacted by external factors, with infla- tion (including salary inflation) and unfavourable fx movements increasing costs vs. Q1 23.
   Net Financial Expenses of SEK 713 M (707) for the quarter include an IAC gain of SEK 196 M in respect of bond redemptions. Adjusted Net Financial Expenses increased by 18% to SEK 971 M

1. due to increase in the average balance of Gross Debt vs. Q1'23 and increased interest rates.
   In Servicing, the strong commercial trajectory continued with new ACV signings of SEK 278 M (251) in the quarter. External Ser- vicing Income for the quarter has benefited significantly from M&A activity increasing Servicing Income by 17% compared to

the same quarter last year whilst Adjusted EBIT Margin remained flat at 10% (10).

Portfolio Investments performance for the quarter came in at 100% (100) of active forecast with an Adjusted ROI of 12% (13). Aligned with our overall strategy to reduce our proprietary investing book value we invested SEK 371 M (1,664) during the quarter related to forward flow commitments across our footprint reducing book value to SEK 37 bn (37), SEK 26 bn excluding portfolio divestments expected to complete during 2024.

The leverage ratio remained flat at 4.4x compared to the previous quarter including 0.1x unfavourable FX movements.

		Balance
Growth		sheet intensity
~10%	EBIT margin	SEK	Leverage
CAGR	>25%	~30 bn	3.5x
Total adjusted	Leverage ratio by
External servicing	servicing margin	Proprietary investing	end of 2025/2026
Income growth		book value excl.
		revaluations
External Servicing Adjusted Income
Growth, RTM bn	Servicing Adjusted EBIT Margin, RTM	Investing BV excl. Revaluations, Quarter End	Leverage Ratio, RTM

		11.0	11.4	11.9
10.6	10.6
			CAGR: 16%
CMD	Q2	Q 3	Q4	Q1
Sep'23	2023	2023	2023	2024

18	18	17
		16
			15
CMD	Q2	Q 3	Q4	Q1
Sep'23	2023	2023	2023	2024

41	41	39
		37	37
CMD	Q2	Q 3	Q4	Q1
Sep'23	2023	2023	2023	2024

4.6x	4.6x	4.4x	4.4x	4.4x
CMD	Q2	Q 3	Q4	Q1
Sep'23	2023	2023	2023	2024

Q1 in brief Comment by the President and CEO Key financial metrics Segment overviewFinancial overview Financial reports Other information Definitions About IntrumIntrum  Interim report, first quarter 2024 5

Segment overview

Key figures

			First quarter, Jan-Mar 2024					First quarter, Jan-Mar 2023
					Consolidated,							Consolidated,
					incl.							incl.
					discontinued	Discontinued						discontinued	Discontinued
SEK M	Servicing	Investing	Central	Eliminations	operations	Operations	Consolidated	Servicing	Investing	Central	Eliminations	operations	Operations	Consolidated
External Income	2,897	1,961	34	-	4,891	-634	4,257	2,503	2,020	-	-	4,524	-776	3,747
Internal Income	625	-	50	-675	-	-	-	641	-	45	-686	-	-	-
Income	3,521	1,961	84	-675	4,891	-634	4,257	3,144	2,020	45	-686	4,524	-776	3,748
Items Affecting Comparability in Income	-	-	-	-	-	634	634	-	-	-	-	-	776	776
Adjusted Income	3,521	1,961	84	-675	4,891	-	4,891	3,144	2,020	45	-686	4,524	-	4,524
Direct Costs	-2,352	-817	-40	662	-2,547	246	-2,301	-2,091	-769	-38	686	-2,211	345	-1,866
Indirect Costs	-983	-208	-478	12	-1,657	14	-1,644	-814	-158	-467	-	-1,440	33	-1,406
Share of Associates and Joint Ventures	8	69	-	-	77	78	155	4	40	-	-	43	78	121
Net Credit Gains / (Losses)	-	2	-	-	2	-	2	-	1	-	-	1	43	44
EBIT	194	1,007	-434	-	767	-296	470	242	1,134	-459	-	917	-276	643
Items Affecting Comparability in EBIT	149	115	124	-	389	296	685	75	63	10		149	276	425
Adjusted EBIT	343	1,122	-310	-	1,155	-	1,155	318	1,197	-449	-	1,068	-	1,068
Cash Income	3,521	3,272	84	-675	6,203	-	6,203	3,144	3,246	45	-686	5,749	-	5,749
Cash EBITDA	603	2,466	-287	-	2,782	-	2,782	592	2,537	-403	-	2,728	-	2,728
Adjusted Income	3,521	1,961	84	-675	4,891			3,144	2,020	45	-686	4,524
- thereof Northern Europe	734	495	-	-125	1,103			745	520	-	-128	1,137
- thereof Middle Europe	1,006	590	-	-242	1,355			777	584	-	-253	1,109
- thereof Southern Europe	1,684	595	-	-167	2,112			1,498	591	-	-152	1,937
- thereof Tactical Markets	97	280	-	-91	287			124	325	-	-109	340
- thereof Central	-	-	84	-50	34			-	-	45	-45	-
Adjusted EBIT	343	1,122	-310	-	1,155			318	1,197	-449	-	1,068
- thereof Northern Europe	41	347	-	-	389			18	353	-	-	371
- thereof Middle Europe	65	223	-	-	288			33	311	-	-	345
- thereof Southern Europe	279	434	-	-	713			296	397	-	-	693
- thereof Tactical Markets	-42	118	-	-	76			-30	136	-	-	106
- thereof Central	-	-	-310	-	-310			-	-	-449	-	-449

1) Refer to page 9 for details on Items Affecting Comparability

Q1 in brief Comment by the President and CEO Key financial metrics Segment overviewFinancial overview Financial reports Other information Definitions About Intrum

Intrum  Interim report, first quarter 2024 6

Servicing

Credit management with a focus on late payments and collections.

		First quarter		Full year
	Jan-Mar	Jan-Mar	Change
SEK M	2024	2023	%	2023
External Income	2,897	2,503	16	11,444
Internal Income	625	641	-3	2,518
Income	3,521	3,144	12	13,962
Items Affecting Comparability in Income	-	-		-
Adjusted Income	3,521	3,144	12	13,962
Direct Costs	-2,352	-2,091	12	-8,881
Indirect Costs	-983	-814	21	-3,732
Share of Associates and Joint Ventures	8	4	106	21
EBIT	194	243	-20	1,370
Items Affecting Comparability in EBIT	149	75	98	821
Adjusted EBIT	343	318	8	2,191
Cash Income	3,521	3,144	12	13,962
Cash EBITDA	603	592	2	3,409
KPIs
Change in Adjusted Income, %	16	1	15ppt	10
- thereof organic growth	-2	-4	2ppt	-6
- thereof acquisitions	18	0	18ppt	9
- thereof foreign exchange	0	5	-5ppt	6
Adjusted EBIT Margin, %	10	10	0ppt	16
Capex Deployed	23	32	-27	206

Cash Income, 3 months

Northern Europe: 734

Middle Europe: 1,006

Southern Europe: 1,684

Tactical markets: 97

Cash EBITDA, 3 months

Northern Europe: 57

Middle Europe: 102

Southern Europe: 478

Tactical markets: -34

First quarter of the year started on a positive note for the Servicing business line, with an improving trend compared to 2023 across most jurisdictions.

Total Servicing Income for the quarter increased by 12% to SEK 3,521 M (3,144) vs. Q1'23, whereas External Income was up by 16% to SEK 2,897 M (2,503). The increase in revenue is mainly driven by M&A activity during the second half of 2023. The strong commercial trajectory continued with new ACV of 278M (251) in the quarter.

Adjusted Servicing EBIT also increased by 8% to SEK 343 M (318), implying a stable Adjusted Servicing EBIT margin of 10% (10) vs. Q1'23.

Direct Costs increased by 12% to SEK 2,352 M (2,091) vs. Q1'23, and Indirect Costs by 21% to SEK 983 M (814) vs. Q1'23. This is partly due to the additional business vs. last year, but also due to one-off items and frontloaded costs arising from executing the cost savings program.

Q1 in brief Comment by the President and CEO Key financial metrics Segment overviewFinancial overview Financial reports Other information Definitions About Intrum

Intrum  Interim report, first quarter 2024 7

Investing

Intrum invests in portfolios of overdue receivables and similar claims, after which Intrum's		Cash Income, 3 months
servicing operations collect on the claims acquired.
			First quarter		Full year
		Jan-Mar	Jan-Mar	Change
SEK M	2024	2023	%	2023
Income	1,961	2,020	-3	8,545
Items Affecting Comparability in Income	-	-	-	-
Adjusted Income	1,961	2,020	-3	8,545
- thereof REOs	28	23	27	140
-thereof Other Income	0	7	-99	20
Direct Costs	-817	-769	6	-3,294
Indirect Costs	-208	-158	32	-356
Share of Associates and Joint Ventures	69	40	75	53	Cash EBITDA, 3 months
Net Credit Gains / (Losses)	2	1	104	9
EBIT	1,007	1,134	-11	4,956
Items Affecting Comparability in EBIT	115	63	84	191
Adjusted EBIT	1,122	1,198	-6	5,147
- thereof REOs	-11	-12	-11	-27
-thereof Other Income	0	1	-101	3
Cash Income	3,272	3,246	1	13,930
Cash EBITDA	2,466	2,537	-3	10,810
KPIs
Internal Gross Collections	3,243	3,216	1	13,748
Amortisation %	40	38	2	39
Capex Deployed	371	1,664	-78	5,508
ERC	75,291	78,539	-4	76,058
Collection Index vs. Active Forecast	100	100	-	102
Book Value	36,878	37,121	-1	36,585
Adjusted Return on Portfolio Investments %	12	13	-1	14

Northern Europe: 852

Middle Europe: 1,070

Southern Europe: 935

Tactical markets: 415

Northern Europe: 705

Middle Europe: 703

Southern Europe: 806

Tactical markets: 253

Collection performance was in line with expectations at 100%

1. of active forecast for the quarter with an adjusted ROI of 12% (13).
   During the quarter, we invested SEK 371 M (1,664) in new portfo- lios with a net IRR of 17%. Q1'24 investments were predominantly focused on forward flow commitments across our footprint. This is aligned with our overall strategy to reduce our proprietary investing book value and extract cash from the segment.

Cash Income came in at SEK 3,272 M (3,246), representing a 1% increase vs. the same quarter last year. Cash EBITDA for the segment was SEK 2,466 M (2,537) and adjusted EBIT was SEK 1,122 M (1,198), down 3% and 6%, respectively, compared to the same quarter last year.

Q1 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overviewFinancial reports Other information Definitions About IntrumIntrum  Interim report, first quarter 2024 8

Adjusted 5 year financial overview

Adjusted P&L

	First quarter		Rolling 12 months			Full year
	Jan-Mar	Jan-Mar	Apr 2023-
SEK M	2024	2023	Mar 2024	2023	2022	2021	2020	2019
Adjusted Income	4,891	4,524	20,368	20,000	18,960	17,655	16,730	15,779
Adjusted Direct Costs	-2,479	-2,184	-9,645	-9,350	-8,317	-7,910	-7,908	-7,674
- thereof personnel	-1,345	-1,077	-5,198	-4,930	-4,086	-3,968	-3,923	-3,615
- thereof non-personnel	-1,134	-1,107	-4,447	-4,420	-4,231	-3,942	-3,985	-4,059
Adjusted Indirect Costs	-1,334	-1,317	-5,041	-5,024	-4,524	-3,312	-3,389	-3,076
- thereof personnel	-561	-613	-2,324	-2,376	-2,097	-1,617	-1,511	-1,601
- thereof non-personnel	-773	-704	-2,717	-2,648	-2,427	-1,695	-1,878	-1,475
Adjusted Share of Associates and Joint Ventures	77	43	194	161	545	581	306	1,179
Adjusted EBIT	1,155	1,068	5,876	5,786	6,664	7,014	5,739	6,208
Adjusted D&A	292	325	1,398	1,432	1,453	1,318	1,529	1,246
Adjusted EBITDA	1,447	1,391	7,274	7,219	8,117	8,332	7,268	7,454
Adjusted Financial Items	-971	-825	-3,624	-3,478	-2,409	-2,174	-2,062	-1,921
Adjusted Tax	-71	12	-944	-861	-1,129	-910	-555	-424
Adjusted Net Income	113	253	1,308	1,448	3,126	3,930	3,122	3,863
Adjusted Net Income attributable to Parent company's shareholders	-144	133	837	1,114	1,835	3,487	2,689	2,797
Average number of shares outstanding	121	121	121	121	121	121	124	131
Adjusted EPS, SEK	-1.20	1.10	6.95	9.24	15.21	28.86	21.70	21.34
Adjusted EBITDA	1,447	1,391	7,274	7,219	8,117	8,332	7,268	7,454
Amortisation of Portfolio Investments	1,311	1,226	5,471	5,385	5,320	4,311	4,308	4,183
Income from Associates and Joint Ventures	-77	-43	-194	-161	-545	-581	-306	-1,179
Cash from Associates and Joint Ventures	101	153	360	412	347	248	338	197
Cash EBITDA	2,782	2,726	12,910	12,854	13,238	12,310	11,608	10,655
Proforma adjustments in respect of M&A			65	146
Cash EBITDA (proforma)			12,975	13,001

Net Debt Reconciliation

	First quarter		Rolling 12 months			Full year
	Jan-Mar	Jan-Mar	Apr 2023-
SEK M	2024	2023	Mar 2024	2023	2022	2021	2020	2019
Borrowings	61,201	58,033	61,201	59,852	56,519	52,501	48,703	50,625
Lease Liability	653	709	653	637	712	805	871	917
Deferred Liabilities	362	-	362	348	384	406	1,073	926
Gross Debt	62,216	58,742	62,216	60,837	57,615	53,713	50,647	52,468
Cash and Cash Equivalents	-4,749	-3,713	-4,749	-3,966	-3,474	-4,553	-2,134	-1,906
Net Debt before Other Obligations	57,467	55,029	57,467	56,871	54,141	49,160	48,513	50,562
Net Defined Benefit Liability	136	139	136	142	141	329	381	387
Payable to Non-controlling Interest	328	384	328	330	397	430	-	-
Net Debt after Other Obligations	57,931	55,552	57,931	57,342	54,678	49,919	48,894	50,949
Net Debt before Other Obligations/RTM cash EBITDA (proforma)			4.4	4.4	4.1	4.0	4.2	4.7

Q1 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overviewFinancial reports Other information Definitions About IntrumIntrum  Interim report, first quarter 2024 9

Reconciliation

			Rolling 12
	First quarter	months	Full year
	Jan-Mar	Jan-Mar	Apr 2023-
SEK M	2024	2023	Mar 2024	2023
INCOME RECONCILIATION
Income	4,257	3,748	17,347	16,838
Discontinued Operations	634	776	3,021	3,162
Adjusted Income	4,891	4,524	20,368	20,000
Portfolio Amortisation	1,311	1,226	5,471	5,385
Cash Income	6,203	5,749	25,838	25,385
EBITDA RECONCILIATION
EBIT	470	641	2,523	2,694
Depreciation and Amortisation	323	317	1,548	1,543
EBITDA	793	958	4,072	4,237
Discontinued Operations	296	276	1,690	1,670
IAC - NCIs
Impairments / (Reversals)	2	8	118	124
Net Credit Gains/(Losses)	-2	-1	-10	-9
- thereof Portfolio Investment Gains	-112	-62	-1,308	-1,258
- thereof Portfolio Investment Losses	110	61	1,298	1,249
IAC - Restructuring
IT Transformational Costs	3	75	236	308
Merger & Acquisition	51	9	130	88
Group Restructuring	188	10	854	676
- therof cost saving program	148	0	689	541
IAC - NRIs
Hungarian Tax Effects	116	55	151	90
Other	-	1	34	35
Adjusted EBITDA	1,447	1,391	7,275	7,219
JV Cash Adjustments
IFRS Earnings	-77	-43	-195	-161
Cash Earnings	101	153	359	412
Portfolio Amortisation	1,311	1,226	5,471	5,385
Cash EBITDA	2,782	2,726	12,910	12,854
EPS RECONCILIATION
Earnings Per Share, SEK	-1.98	0.19	-3.7	-1.56
IACs in EPS
Impairments / (Reversals)	0.02	0.07	0.98	1.03
Other Operating (Gains) / Losses	0.76	0.82	9.72	9.77
Adjusted Earnings Per Share, SEK	-1.20	1.10	6.95	9.24

Q1 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overviewFinancial reports Other information Definitions About Intrum

Intrum  Interim report, first quarter 2024 10

Group overview

Yearly overview, Group

SEK M	2023	2022	2021	2020	2019
Income	17,568	19,368	17,655	16,880	15,957
EBIT	2,694	154	6,475	4,695	2,060
Net Income/(Loss) attributable to Parent	-188	-4,473	3,127	1,881	-362
company's shareholders
Earnings Per Share, SEK	-1.56	-37.07	28.88	15.18	-2.76
Adjusted Income	20,000	18,960	17,655	16,730	15,779
Adjusted EBIT	5,786	6,664	7,014	5,739	6,208
Adjusted Net Income/(Loss) attributable to Parent	1,114	1,835	3,487	2,689	2,797
company's shareholders
Adjusted Earnings Per Share, SEK	9.24	15.21	28.86	21.70	21.34
Return on equity, %	-1	-22	15	9	-2
Equity per share, SEK	138.89	153.68	183.33	154.28	168.12
Average number of employees (FTEs)	10,641	9,965	9,694	9,379	8,766

Quarterly overview, Group

	Quarter 1	Quarter 4 Quarter 3 Quarter 2 Quarter 1 Quarter 4 Quarter 3 Quarter 2
SEK M	2024	2023	2023	2023	2023	2022	2022	2022
Income	4,257	4,817	4,130	4,143	3,748	5,542	4,530	4,825
EBIT	470	1,320	15	721	643	-1,153	-1,576	1,561
Net Income/(Loss) attributable	-238	187	-411	14	23	-3,633	-2,055	663
to Parent company's
shareholders
Earnings Per Share, SEK	-1.98	1.56	-3.41	0.11	0.19	-30.14	-17.05	5.50
Adjusted Income	4,891	5,540	4,959	4,978	4,524	5,134	4,530	4,825
Adjusted EBIT	1,155	1,899	1,353	1,468	1,068	1,928	1,564	1,701
Adjusted Net Income/(Loss)	480	507	222	136	133	-330	761	758
attributable to Parent company's
shareholders
Adjusted Earnings Per Share, SEK	0.43	2.87	1.84	1.12	1.10	-2.74	6.31	6.28
Return on equity, %	-3	-1	-21	-30	-27	-23	1	12
Equity per share, SEK	142.71	138.89	152.11	160.83	154.58	153.81	172.39	186.20
Number of employees (FTEs)	10,880	11,099	11,066	10,907	10,240	10,238	10,054	9,920