Clarification of Intrum's exposure in Italy

In light of the Italian government's measures to stem the spread of the corona virus, we anticipate a delay of Intrum's cash flow in Italy. A large proportion of this cash flow is related to secured assets, almost exclusively real estate, that are typically processed through the Italian court system.

The absolute majority of Intrum's operations in Italy consists of the partnership with Intesa Sanpaolo, where Intrum owns 51 percent, and a debt portfolio owned through a SPV together with Intesa Sanpaolo, where Intrum owns 41 per cent. The combined contribution in 2019 was approximately 4 per cent of Intrum's total adjusted Cash EBITDA (SEK 11.4 billion), corresponding to around SEK 0.4 billion.

Our partnership in Italy employs 850 individuals. Intrum has in total 10,000 employees in 24 countries in Europe.
 

For further information, please contact:
Viktor Lindeberg, Head of Investor Relations & Group Business Control
+46 (0) 8 546 102 02
+46 (0) 76 897 07 08
viktor.lindeberg@intrum.com
ir@intrum.com

Anders Engdahl, CFO
+34 699 366 359 
anders.engdahl@intrum.com

Intrum is the industry-leading provider of Credit Management Services with a presence in 24 markets in Europe. Intrum helps companies prosper by offering solutions designed to improve cash flows and long-term profitability and by caring for their customers. To ensure that individuals and companies get the support they need to become free from debt is one important part of the company’s mission. Intrum has circa 10,000 dedicated professionals who serve around 80,000 companies across Europe. In 2019, revenues amounted to SEK 16.0 billion. Intrum is headquartered in Stockholm, Sweden and the Intrum share is listed on the Nasdaq Stockholm exchange. For further information, please visit www.intrum.com.