Intrum Justitia AB:s Year-end Report for 2008
Fourth quarter 2008:
• Consolidated revenues amounted to SEK 1,020.0 M (888.0), an increase of 14.9
percent. Organic growth was 6.2 percent (12.3).
• Operating earnings (EBIT) amounted to SEK 142.9 M (206.5). Earnings were
charged with SEK 60.7 M in goodwill impairment attributable to the Group's
operations in Scotland. Excluding goodwill impairment and net PD revaluations of
SEK -4.0 M (1.8), operating earnings amounted to SEK 207.6 M (204.7), an
increase of 1.4 percent, and the operating margin was 20.3 percent (23.1).
• Net earnings for the fourth quarter amounted to SEK 96.0 M (154.7). Earnings
per share before dilution amounted to SEK 1.21 (1.96).
• Investments in Purchased Debt amounted to SEK 205.1 M (611.1) during the
fourth quarter. The return on purchased debt was 19.6 percent (21.0).
Full-year 2008:
• Consolidated revenues for 2008 amounted to SEK 3,677.7 M (3,225.2), an
increase of 14.0 percent. Organic growth was 9.3 percent (10.4).
• Operating earnings (EBIT) amounted to SEK 697.3 M (667.8). Excluding goodwill
impairment and net PD revaluations of SEK 2.2 M (11.5), operating earnings
amounted to SEK 755.8 M (656.3), an increase of 15.2 percent, and the operating
margin rose to 20.6 percent (20.4).
• Net earnings amounted to SEK 441.7 M (462.0) and earnings per share before
dilution amounted to SEK 5.58 (5.86) for the full year.
• Investments in Purchased Debt amounted to SEK 871.6 M (996.2) during the year,
excluding the payment in 2008 of SEK 332.5 M for the Austrian portfolio
purchased in 2007. The return on purchased debt was 16.6 percent (17.0).
• The Board of Directors proposes a dividend of SEK 3.50 per share (3.25).
The full Year-End report is enclosed in this message.
The year-end report and presentation material are available at www.intrum.com.
President & CEO Lars Wollung and CFO Monika Elling will comment on the
report at an analysts' meeting and teleconference today at 9:00 a.m. CET.
Location: Operaterrassen in Stockholm. The presentation can be followed at
www.intrum.com or www.financialhearings.com. To participate by phone, call
+44 (0)20 7138 0825 (UK) or +46 (0)8 5051 3641 (SE), followed by the code
7546287.
For more information please contact:
Lars Wollung, President & CEO
Tel: +46 8 546 10 200
Monika Elling, Chief Financial Officer
Tel: +46 8 546 10 201,
mobile +46 705 120 201
Sophie Hammarskjöld, Investor Relations
Tel: +46 8 546 10 203,
mobile: +46 767 68 52 63
Intrum Justitia is Europe's leading Credit Management Services (CMS) group,
offering comprehensive services designed to measurably improve clients' cash
flows and long-term profitability. Founded in 1924, Intrum Justitia has 3,300
employees in 24 markets. Headquartered in Nacka, outside Stockholm, the Group
had revenues of nearly SEK 3.7 billion in 2008. Intrum Justitia AB is listed on
the Nasdaq OMX Nordic Exchange since 2002. For further information, please visit
www.intrum.com
