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  • Kristin Andersson

    Global External Communications Director


    Riddargatan 10 114 35 STOCKHOLM SWEDEN
    +46 70 585 78 18
    http://www.intrum.com
  • Anna Fall

    Chief Brand & Communications Officer


    Riddargatan 10 114 35 STOCKHOLM SWEDEN
    http://www.intrum.com

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    Corporate cost-cutting at a four-year high despite growing economic optimism

    · Two in five (41%) European businesses plan to cut costs this year, up from 28% in 2021 to the highest level seen the outbreak of the Covid-19 pandemic, despite opportunities ahead · One in three (34%) businesses are more likely to request longer payment terms from suppliers, or pay later than agreed · Businesses are losing more than a quarter of the working year (73 working days) chasing late payments* · European business are owed €10.5 trillion in outstanding payments (30% of total GDP and equivalent to the combined GDPs of France, Germany and the UK)Two in five (41%)

    Report from Intrum’s Annual General Meeting 2024

    Submission and adoption of accountsThe Annual General Meeting noted that the annual accounts and the auditor’s report, and consolidated accounts and auditor’s report on the consolidated accounts for the financial year 2023 had been duly submitted, and adopted the profit and loss statement and balance sheet and consolidated profit and loss statement and consolidated balance sheet.DividendThe Annual General Meeting adopted the board’s proposal not to pay any dividend for 2023.Discharge from liabilityThe Annual General Meeting discharged the members of the Board and the CEO from

    Intrum AB – Interim results January-March 2024

    · 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 the SEK 800 M implemented in 2023), and implementing measures to save an additional SEK ~700 M in 2024 and 2025 and (iii) debt

    Presentation of Intrum’s results for January-March 2024

    Intrum announces its interim results for January-March 2024 on 24 April at 7:00 a.m. CET. The report will be presented in an audiocast with teleconference at 9:00 a.m. CET the same day.Andrés Rubio, President & CEO and Emil Folkesson, interim CFO & Investor Relations Director, will present the results and answer questions. The conference will be held in English.If you wish to participate via webcast, please use this link . Via the webcast you are able to ask written questions.If you wish to participate via teleconference, please

    Johan Åkerblom appointed CFO of Intrum

    Johan Åkerblom has been appointed CFO of Intrum AB. Åkerblom has an extensive background in senior management roles in financial institutions including SEB and, most recently, Citadele Bank where he was CFO and since 2020 CEO of the group.“I am very pleased to announce the appointment of Johan Åkerblom as Intrum’s new CFO”, says Andrés Rubio, President and CEO of Intrum. “Johan’s international background of key senior positions in the financial services industry, such as CFO of SEB in Germany, CFO of the SEB’s Baltic Division, and both CFO and CEO of Citadele Bank, is a perfect match for

    Intrum’s Annual and Sustainability Report 2023: Strategic shift in fast-changing and challenging economic environment

    Today Intrum publishes its Annual and Sustainability Report for 2023 on the corporate website, www.intrum.com.Surging inflation and higher borrowing costs were taking a toll on household finances during 2023, while many companies were conserving cash by delaying payments, causing severe liquidity issues across Europe. During the year, Intrum helped 5.1 million individuals to become debt free and collected SEK 105 billion for its clients. In the fast-changing and challenging economic environment, Intrum’s role in the financial ecosystem is as important as ever.In the annual report, Andrés

    Notice of Annual General Meeting of the shareholders in Intrum AB (publ)

    The shareholders of Intrum AB (publ) are hereby summoned to the Annual General Meeting on Wednesday 24 April 2024, 14.00, at Grev Turegatan 30 (GT30), Stockholm. Registration for the meeting starts at 13.00.This document is an unofficial translation of the corresponding Swedish document. In the event of any discrepancies between this document and the Swedish version, the latter shall prevail. Right to attendShareholders who wish to attend the Annual General Meeting shall both            be entered in the company’s register of shareholders kept by Euroclear Sweden AB (not nominee-

    Intrum invites investors and analysts to an update call Monday 25 March at 15:00

    Andrés Rubio, President & CEO and Emil Folkesson, interim CFO, will host a update call on Monday 25 March at 15:00 CET. The conference will be held in English.If you wish to participate via webcast, please use this link.  Via the webcast you are able to ask written questions.If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. There will only be an opportunity to ask questions in written.To

    Intrum appoints advisors to evaluate improvements of its debt capital structure

    Intrum AB has appointed Houlihan Lokey and Milbank as advisors to assist in an evaluation of alternatives to strengthen the company’s financial profile through directly addressing its debt structure.The appointments follow Intrum’s previously communicated intention to prioritise initiatives to strengthen its financial profile.As communicated in the Q4 report, the strong performance of Intrum’s underlying business continues, demonstrated by a continued growth of the Servicing business in Q4, with an all-time high volume of new contracts and several client wins. Intrum’s confidence in the

    Changes to Intrum’s Group Management Team

    Emil Folkesson has been appointed interim CFO of Intrum. Anders Blomqvist, who took on the interim CFO role in December, remains as Senior Consultant reporting directly to CEO Andrés Rubio. The changes take effect from 16 February. In addition, new regional directors have been named for North and Middle Europe.“Since Anders Blomqvist joined Intrum as interim CFO mid-December, the focus has been to close and announce the fourth quarter of 2023 and to finalise the asset sale to Cerberus which we announced 23 January”, says Andrés Rubio, President & CEO of Intrum. “As we now have these two

    Intrum to repurchase EUR 68.8 million of issued senior notes as a further step to strengthen financial profile

    Intrum AB announces the outcome of the tender offers to the holders of certain senior notes issued by the company. Following the offers, Intrum will repurchase senior notes at an amount 75 percent of nominal value, corresponding to EUR 51.3 million. The repurchase follows Intrum’s previously communicated ambition to strengthen its financial profile.NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND

    Intrum AB – Year-end announcement 2023

    · Seasonally strong end to a transitory year · Income flat vs. strong Q4 ‘22 and up 3 per cent vs. FY ’22 · Full year EBIT increased to SEK 4,364 M vs SEK 154 M (inclusive of JV write down) · EBIT includes SEK 541 M for the FY ’23 in respect of costs to execute the cost saving program · Adjusted Income was up 8 percent vs. Q4 ’22 and 5 percent vs. FY ’22 primarily driven by M&A activity in Servicing segment · Adjusted EBIT reduced by 1 percent vs. Q4 ’22 and 13 percent vs. FY ’22 driven by cost growth in excess of income · Leverage ratio flat at 4.4x (including 0.1x

    Intrum announces SEK 11.5 billion asset sale to Cerberus, raising liquidity and progressing toward capital-light business model

    Intrum AB (publ) has agreed to sell a material portion of its investment portfolio to affiliates of Cerberus Capital Management L.P. (“Cerberus”) for approximately 98 percent of book value as per economic transfer date, 30 September 2023. Intrum will retain a 35 percent ownership stake in the purchasing entity (the “Investor”) owning these assets and has entered into a minimum of 5-year exclusive agreement to retain the servicing of the full portfolio. Intrum’s expected net proceeds at closing, of SEK 8.2 billion, will be used in full to reduce debt.Highlights of the transaction ·

    Presentation of Intrum’s results for October-December 2023

    Intrum announces its interim results for October-December 2023 on 25 January at 7:00 a.m. CET. The report will be presented in a webcast with teleconference at 9.00 a.m. CET the same day.Andrés Rubio, President & CEO and Anders Blomqvist, interim CFO, will present the results and answer questions. The conference will be held in English.If you wish to participate via webcast, please use this link . Via the webcast you are able to ask written questions.If you wish to participate via teleconference, please register on the link below. After

    Chief Financial Officer Michael Ladurner to leave Intrum

    Intrum AB (publ) has come to an agreement with Michael Ladurner, Chief Financial Officer (CFO), regarding his departure from the company.Anders Blomqvist has been appointed interim CFO with immediate effect, and Michael Ladurner will support the organisation to ensure a smooth CFO handover through the first quarter of 2024.“Michael has played an important role for Intrum during the last seven years. Joining as an investment professional, Michael was internally recruited to the CFO position 2021, with the mission to establish a solid financial structure and governance processes. Given the

    Comment regarding speculations in media

    Intrum notes the recent speculation regarding a potential sale of part of its back book and can confirm that the company is engaging in such discussions. As previously communicated and explained at the company’s Capital Markets Day in September earlier this year, Intrum is looking to divest parts of its back book to lower the risk of its financial profile and continue its deleveraging path. Intrum will keep the market updated in case a potential deal is signed. For further information, please contact: Emil Folkesson, CFO Office and Investor Relations Directorir@intrum.comThis

    Millions to lose sight of spending as monthly subscriptions and payment deferrals pile pressure on household finances

    · Almost half (45%) of European consumers are caught out by the build-up of monthly subscription costs · Generation gap means over half (52%) of millennials and 53% of Gen Z struggle to keep track of subscription spending, compared with 34% of Baby boomers · 30% of consumers are planning to increase their use of buy-now-pay-later products · Three in four (76%) are just breaking even or are over-spending each month, with the average over-spender exceeding their budget by EUR 232 · One in five consumers have no ‘cash buffer’ to fall back on in the event of difficultiesMillions of

    Intrum signs a term loan of EUR 100 million

    Intrum AB (publ) has signed a 2 year senior secured term loan facility with an international bank. The facility can be drawn up to EUR 100 million with a rate of interest of 450 basis points over EURIBOR for the relevant interest period.“I’m pleased to have signed this facility which is a further testament to our strong bank partnerships. While attractively priced and incremental to our liquidity, the facility is also very much evidence of our ability to tactically manage our liabilities as we execute our strategy to de-lever and de-risk the balance sheet and start moving towards becoming

    Intrum AB – Interim results July-September 2023

    · Seasonally slower third quarter in a transitory 2023 · Income increased 9 per cent vs. Q3 ‘22 and 5 per cent vs. YTD ‘22 driven by both Servicing and Investing segments · Adjusted EBIT reduced by 13 per cent vs. Q3 ‘22 and 18 per cent vs. YTD ‘22 driven by cost growth in excess of income · EBIT YTD, increased by 108 per cent vs. YTD ’22 mainly due to the impact of the JV write down last year · Leverage ratio decreased 0.2x to 4.4x in the quarter driven by favourable FX movements and recent acquisition in Spain · Commercial focus with record ACV signings and increased win rate

    Presentation of Intrum’s results for July-September 2023

    Intrum announces its interim results for July-September 2023 on 25 October at 7:00 a.m. CET. The report will be presented in an audiocast with teleconference at 9:00 a.m. CET the same day.At the audiocast, Intrum will be represented by Andrés Rubio, President & CEO and Michael Ladurner, CFO. The presentation will be held in English.To participate via audiocast, please use this link . Via the audiocast you will be able to ask written questions.To participate via teleconference, please register here. 

    Three quarters of consumers admit to breaking even or overspending each month

    · 35% of consumers have skipped at least one bill in the last 12 months, with one in three feeling less guilt for dodging their payment due date than in the past · Three in four (76%) are just breaking even or are over-spending each month, with the average over-spender exceeding their budget by €232 · One in five consumers have no ‘cash buffer’ to fall back on in the event of difficulties · 71% say ‘greedflation’ would stop them spending money with a businessThree quarters (76%) of consumers are only just breaking even or overspending each month, according to the upcoming annual

    Nomination Committee in Intrum

    At Intrum AB's Annual General Meeting on 27 April 2023, it was resolved that the Chairman of the Board of Directors should form a Nomination Committee by convening representatives for the largest shareholders of the company, based on the number of votes known to be held at the end of August.Following contacts with the company's shareholders, the following members have been appointed: · Robert Furuhjelm, appointed by Cidron 1748 Sarl / Nordic Capital · Patricia Hedelius, appointed by AMF and AMF Fonder · Pia Gisgård, appointed by Swedbank Robur Fonder · Helen Fasth Gillstedt,

    Moody’s changes Intrum’s credit rating

    Moody’s Investors Service (“Moody’s”) has today announced its downgrading of Intrum AB’s credit rating (corporate family rating) from Ba3 to B1, with a stable outlook.De-leveraging and de-risking of the balance sheet is Intrum’s key priority as highlighted during the recent Capital Markets Day. Intrum’s discretionary cash generation remains strong with any upcoming debt maturities until the end of 2025 fully covered by organic cash flow generation as well proceeds from market exits and portfolio sales currently being executed. “We have a well-balanced and highly diversified business,

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