Intrum Justitia changes accounting standard and publishes restated historical figures according to IFRS 8
As earlier indicated, the company will apply a new accounting standard, IFRS 8 Operating segments, as of the first quarter 2009. One result hereof is that external reporting will be modified to reflect how operations in the regions are co-ordinated and governed. The new reported regions will be Sweden, Norway & Denmark; Netherlands & Belgium; Switzerland, Germany & Austria; France, Spain, Portugal & Italy; Finland, Estonia, Latvia & Lithuania; United Kingdom & Ireland, and Poland, Czech Republic, Slovakia & Hungary. The new regional breakdown necessitates a minor change compared with the financial reporting in previous years. Consequently, Intrum Justitia today is publishing quarterly figures for the years 2006–2008 prepared according to the new breakdown. Shown in addition to operating earnings (EBIT) are Purchased Debt revaluations and operating earnings by region, excluding net revaluations and acquisition-related depreciation and write-down charges.
The figures are available on the Group’s website, www.intrum.com, under the tab Investors > Financial facts > Restated figures.
In the upcoming interim report for the first quarter 2009 (April 28), this information will be provided in table form. In the presentation in connection with the interim report, the emphasis will be on the earnings line “Operating earnings excluding net revaluations and acquisition-related depreciation and write-down charges.” In line with previous reporting, the figures for revaluations and acquisition-related depreciation and write-down charges will be denoted in the text as well.
For further information, please contact:
Monika Elling, Chief Financial Officer
Tel: 08 546 102 00
Sophie Hammarskjöld, Chief Communications Officer
Tel: +46 8 546 102 03, mobile: +46 76 768 52 63, e-mail: email@example.com
Intrum Justitia is Europe’s leading Credit Management Services (CMS) group, with revenues of approximately SEK 3.7 billion and 3,300 employees in 24 markets. Intrum Justitia offers services designed to measurably improve clients’ cash flows and long-term profitability. Intrum Justitia AB is listed on Nasdaq OMX Stockholm since 2002. For further information, please visit www.intrum.com.