STOCKHOLM, April 29, 2021 /PRNewswire/ --
Strong performance in the quarter with cash revenues growing 6 per cent in constant currency
Cash EBIT up 24 per cent year on year to SEK 1,365 M
Increased RTM cash EBITDA and underlying deleveraging in constant currency
Record pipeline and new contract signings with strong momentum for the remainder of 2021
First quarter, January-March 2021:
Adjusted EBIT increased to SEK 1,532 M (1,095).
Cash EBIT improved to SEK 1,365 M (1,105).
RTM cash EPS of SEK 30.16.
RTM cash RoIC was 8.2 per cent (6.6).
Net debt/RTM cash EBITDA was 4.1x (4.0x).
Available liquidity at the end of the quarter was SEK 18,386 M (17,061).
Presentation of the interim report
Anders Engdahl, President & CEO, and Michael Ladurner, CFO, will present the results and answer questions in an audio cast with telephone conference at 9:00 a.m. CET. The conference will be held in English.
To listen in to the conference live, please dial:
+46 8 505 583 50 (SE)
+44 333 300 9270 (UK)
+1 833 249 8407 (US)
Comment by President and CEO Anders Engdahl:
"With the first quarter of 2021 behind us, it is pleasing to see clear signs of recovery in the markets we operate in. Whilst the pandemic trajectory for the quarter remained mixed, we see positive momentum across all our segments.
During the first quarter we recorded cash revenue growth of 6 per cent versus last year in constant currency, cash EBIT up 24 per cent year on year and RTM cash EPS amounted to SEK 30.16. The RTM return on invested capital was 8.2 per cent compared to 6.6 per cent last year.
I am very proud of the best-in-class ESG Risk Rating that Intrum was awarded by Sustainalytics during the quarter, based on our ability to demonstrate high standards across the ESG framework when leading the way to ethical and sustainable collections.
I am also pleased to note that the ONE Intrum transformation program is progressing well. As of March we are operating six markets from the two new front offices in Athens as well as Bucharest and one of the program's core KPIs, case migration, is ahead of plan. We now also have the full unsecured portfolio data in one place.
Our view is that as the vaccination effort is progressing across Europe, we will see generally higher optimism and increased business activity. We observe a record pipeline as well as new contract signings and the expected strong momentum for the remainder of 2021 supports our long term sustainable organic growth ambition."
For further information, please contact:
Emil Folkesson, Director Treasury & Investor Relations+46 8 546 102 02
This information is such that Intrum AB (publ) is required to disclose pursuant to the EU's markets abuse directive. The information was released for publication, through the agency of the contact person set out above, on 29 April 2021 at 07.00 a.m. CET.
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