Intrum Reports Big Growth for 2007, Buys Record Debt in Q4

Global ARM player Intrum Justitia announced financial results Tuesday for the fourth quarter and full year 2007 marked by double-digit growth in revenues, earnings, and portfolio purchases.

The Stockholm, Sweden-based provider of debt purchasing and collection services said that for the full year, it recorded revenues of $528 million, an increase of 10 percent from 2006. The company reported earnings from operations of $109 million for the year, up 13.8 percent compared with 2006.

Intrum spent $163.2 million on debt portfolios in 2007, an increase of 14.5 percent from the amount it spent in 2006. The company paid $100 million for debt accounts in the fourth quarter alone.

In the fourth quarter of 2007, Intrum saw operational earnings of $33.8 million on revenues of $145.3 million, an increase of 11.3 percent from the fourth quarter 2006.

“We leave 2007 having met all our financial objectives,” said CEO Michael Wolf in a press release. “In addition, we have taken a number of concrete steps, such as increased coordination within the regions, a common datacenter and improved processes, which have strengthened Intrum Justitia in its role as a professional credit management partner.”

Intrum, publicly traded on the OMX Nordic Exchange under the symbol IJ, counts nearly 3,000 employees in 24 markets around the world.