YEAR-END REPORT 2011
Fourth quarter 2011· Consolidated net revenues for the fourth quarter of 2011 amounted to SEK 1,042.4 M (965.4). Adjusted for currency effects, revenues rose by 8.6 percent, of which organic growth amounted to 4.5 percent (-0.2).
| · Operating earnings (EBIT) amounted to SEK 227.7 M (181.8). Adjusted for currency effects, this corresponds to an increase in operating earnings of 25.3 percent. The operating earnings include revaluations of Purchased Debt portfolios amounting to a SEK –6.6 M (+5.4) and provisions of SEK –8.3 M for the closure of companies in Latvia and Lithuania. Excluding these items, operating earnings were SEK 242.6 M. · The operating margin was 21.8 percent (18.8). Excluding revaluations of Purchased Debt portfolios and the provision for the closure of operations in Latvia and Lithuania, the operating margin was 23.1 percent. · Net earnings for the quarter amounted to SEK 162.7 M (121.4) and earnings per share were SEK 2.04 (1.52). · Disbursements for investments in Purchased Debt amounted to SEK 497.5 M (417.4), an increase of 19.2 percent. · Cash flow from operating activities remains strong, amounting to SEK 575.1 M (508.9). Full-year 2011· Consolidated revenues during the 2011 full-year amounted to SEK 3,949.8 M (3,766.0). Adjusted for currency effects, revenues rose by 8.1 percent, of which organic growth amounted to 2.1 percent (–0.8). · Operating earnings (EBIT) amounted to SEK 867.6 M (730.6). Adjusted for currency effects, this corresponds to an increase in operating earnings of 22.2 percent. The operating earnings include revaluations of Purchased Debt portfolios amounting to SEK 18.8 M (3.2). · The operating margin was 22.0 percent (19.4). · Net earnings for the full-year amounted to SEK 552.7 M (452.0) and earnings per share were SEK 6.91 (5.67). · Disbursements for investments in Purchased Debt amounted to SEK 1,803.6 M (1,049.6), an increase of 71.8 percent. · Cash flow from operating activities remains strong, amounting to SEK 1,767.6 M (1,629.8). · The Board of Directors proposes a dividend of SEK 4.50 per share (4.10), totaling SEK 358.9 M. |
Presentation of the year-end report
The interim report and presentation material are available at www.intrum.com/Investor relations. President & CEO Lars Wollung and Chief Financial Officer Erik Forsberg will comment on the report at a video and teleconference today, starting at 9:00 a.m. CET.
The presentation can be followed at www.intrum.com and/or www.financialhearings.com. To participate by phone, call +46 (0)8 505 597 72 (SE) or +44 (0)20 710 862 05 (UK).
today, starting at 9:00 a.m. CET. The presentation can be followed at www.intrum.com and/or www.financialhearings.com.
To participate by phone, call +46 (0)8 505 597 72 (SE) or +44 (0)20 710 862 05 (UK).
| For further information, please contact: |
Lars Wollung, CEO & President
Tel: 46 8 546 102 02
Erik Forsberg, CFO
Tel: 46 8 546 102 02, E-mail: e.forsberg@ intrum.com
Annika Billberg, IR & Communications Director
Tel: 46 702 67 97 91, E-mail: a.billberg@intrum.com
Intrum Justitia is Europe’s leading Credit Management Services (CMS) group and offers services designed to measurably improve clients’ cash flows and long-term profitability. Intrum Justitia was founded in 1923, has around 3,100 employees in 22 countries and revenues of approximately SEK 3.8 billion in 2010. Intrum Justitia AB is listed on NASDAQ OMX Stockholm since 2002. For further information, please visit www.intrum.com