Interim Report January–September 2006
• Consolidated revenues amounted to SEK 725.6 M (705.0) in the third quarter 2006, an increase of 2.9 percent. Organic growth was 3.1 percent.
• Operating earnings (EBIT) in the third quarter amounted to SEK 156.7 M (139.5) and include write-downs and write-ups of purchased debt portfolios of SEK 10.2 M, net.
• Earnings before tax for the third quarter 2006 amounted to SEK 138.3 M (132.4).
• Third-quarter net earnings amounted to SEK 103.7 M (99.3).
• Earnings per share before dilution were SEK 1.30 (1.13) for the quarter.
For the first nine months of the year earnings per share were SEK 3.24 (3.08).
• Investments in Purchased Debt during the third quarter amounted to SEK 271.9 M (371.7), including the Group’s share of the purchase of a large portfolio of defaulted bank loans in Germany announced in connection with the interim report for the second quarter 2006.
“After visiting most of our operations I understand why Intrum Justitia is Europe’s leading Credit Management Services company. The level of commitment and business acumen I have seen gives us a solid base to build on. Our challenge is, and will continue to be, to provide value-added solutions by superior knowledge of the requirements of clients and debtors. To meet these expectations, we have taken initiatives to define our operational models to enable better leverage of best practices in the Group.
In the third quarter 2006 most areas continued to develop well. I am especially pleased with the strong development in southern Europe and in Finland. Purchased Debt continues to provide excellent support to our core business, and the revaluations this quarter give a further boost to the quality of our portfolios.”
Michael Wolf, President and CEO