Intrum Justitia presents new corporate identity and reiterates financial objectives
Intrum Justitia is today, Thursday May 15, hosting its third annual Capital Markets Day, this time in Stockholm, Sweden. More than 40 analysts, investors and journalists will be attending the meeting.
“About a year ago Intrum Justitia embarked upon a strategic transformation journey with the aim of creating an even more prosperous corporation for the future. Today we take a further step on this journey by launching our new corporate identity. The most obvious sign is our change of colour from blue to green, but the change goes deeper than that. We want to achieve added customer value by thinking and doing business in new ways”, says Michael Wolf, President and CEO.
Facts that will be presented during the day are:
• Continued strengthening of the CMS offering
• Intensified regionalization process
• Launch of a new brand platform
• The March acquisition of Belgian holding company Solutius Belgium NV is proceeding according to plan.
• Purchase debt continues in April to develop in line with the first quarter. We have acquired new portfolios at a similar monthly rate as in Q1. Return on investments is above 15% and down y-o-y slightly more than 0,5pp. The decrease is natural and an effect of a higher proportion of larger portfolios.
• Accumulated January to April, with no distorting Easter impact, Intrum Justitia shows an organic growth rate of a few percentage points above the 10.5% reported for Q1 2008 and an EBITA margin expansion y-o-y of a few tenths of percentage points above the 1.3 percentage points excl PD revaluation reported in Q1 2008.
• Last year’s clarified financial objectives for the group are reiterated with an organic growth of or above 10%, a pre-tax expansion y-o-y above the organic growth rate, actively seeking out opportunities to grow through selective acquisitions, return on investment for purchased debt should exceed 15% and net debt/equity ratio remain below 150% over the long term.
“We are pleased that the company is performing so well in times of significant internal change. We have found a balance between strategic investments and financial achievements”, concludes Michael Wolf.
Parts of the Capital Markets Day Program can be found on www.intrum.com
. A live web cast of Michael Wolf’s presentation will be available at 10:00 am CET and CFO Monika Elling’s presentation will be webcasted live at 3:15 pm CET. Both presentations will also be available on demand on the web site.