Intrum Justitia Interim Report Continued Strong Growth and Stable Margins

Intrum Justitia Group
Intrum Justitia is Europe’s leading Receivables Management Service (RMS) Group, both in terms of revenues and gross collection value, serving more than 82,000 clients in 21 European countries. Intrum Justitia’s objective is to be a leading provider of receivables management services in Europe through excellence in local client care, ledger administration and debt collection as well as by measurably improving clients’ cash flow and long-term profitability. Intrum Justitia AB’s shares have been trading on the O-list of Stockholmsborsen (the Stockholm Stock Exchange), ticker IJ.ST, since June 12, 2002, following an Initial Public Offering to institutional investors in and outside of Sweden and retail investors in Sweden. The offering price per share was set at SEK 47 and to raise net proceeds of SEK 1,370 million the company issued 30,638,298 new shares. After the listing the total number of outstanding shares is 84,985,604 shares.

Review April – June

Revenues for the period April – June 2002 amounted to SEK 675.4 million (547.0), an increase of 23 percent. Out of this increase, 1 percentage point came from currency movements, 6 percentage points came from acquisitions, mainly that of Dun & Bradstreet’s RMS operations in Europe (“D&B RMS”) undertaken in 2001. The remaining 16 percentage points came from organic growth. The revenue growth is primary attributable to growth in the Commercial & International Collection and Consumer Collection & Debt Surveillance service lines. . The adjusted profit before goodwill amortization (adjusted EBITA) for the second quarter 2002 increased by 15 percent to SEK 114.3 million (99.4). Adjusted for currency effects, the increase was 13 percent. The increase in EBITA for the period is primarily attributable to growth in Consumer Collection & Debt Surveillance, with an increased inflow of collection cases and improved collection efficiency. Earnings Before Interest and Tax (EBIT) for the pe! ri! od increased by 21 percent to SEK 84.5 million (69.6).