Intrum Interim Report Third Quarter 2026
Balance sheet strengthened, Servicing income still under pressure and Investing volumes increased
- Capital raise, asset sale and good cost control takes the Servicing leverage ratio to 4.5x, compared to 5.7x at year end 2025
- Negative Servicing income trend from H1 2026 continued, leading to a goodwill impairment of SEK 1.5bn in Germany. Operational Excellence programme accelerated.
- Investment pace increased with returns remaining high – SEK 617m was invested in the quarter at a 17% blended IRR
Key figures, third quarter 2026
| SEK m, unless otherwise indicated | Third quarter | 9 months | Rolling 12 months | Full year | ||||
| Jul–Sep 2026 | Jul–Sep 2025 | Chg % | Jan–Sep 2026 | Jan–Sep 2025 | Chg % | 2026 | 2025 | |
| Unadjusted accounting metrics | ||||||||
| Total income | 3,820 | 4,056 | -6 | 11,627 | 12,537 | -7 | 16,120 | 17,030 |
| Total costs | -4,512 | -4,733 | -5 | -10,434 | -11,114 | -6 | -16,467 | -17,147 |
| EBIT | -266 | -583 | -54 | 2,364 | 1,775 | 33 | 1,024 | 435 |
| Net income/loss¹ | -1,487 | 396 | n/a | -1,681 | 820 | n/a | -3,930 | -1,429 |
| Earnings/loss per share, SEK² | -0.47 | 3.00 | n/a | -1.45 | 6.59 | n/a | -3.38 | -11.25 |
| Adjusted accounting metrics | ||||||||
| Adjusted EBIT | 976 | 1,234 | -21 | 3,628 | 3,718 | -2 | 5,255 | 5,345 |
| Servicing KPIs | ||||||||
| Servicing leverage ratio | 4.5x | 5.7x | ||||||
| Adjusted Servicing EBIT margin, % | 24 | 22 | 2 | 23 | 23 | 0 | 25 | 25 |
| Other | ||||||||
| Items affecting comparability | 1,242 | 1,818 | -32 | 1,264 | 1,944 | -35 | 4,231 | 4,910 |
1) Amounts attributable to the Parent’s shareholders. 2) Earnings/loss per share is not comparable to prior periods due to the share issue completed in Q3 2026. Source: Intrum Interim report Q3 2026, page 2.
“Three quarters into our Intrum 2030 strategy, we are making progress on our first priority: reducing leverage. In order to continue to deleverage, we will focus on lower costs, better cash generation and External servicing growth. In Investing, our aim is to invest at a level that replenishes the book, while maintaining our return requirements.” - Johan Åkerblom, President and CEO, Intrum AB
The quarter summarised
- The Servicing leverage ratio was 4.5x, compared with 5.7x at year end 2025, following a SEK 7.5bn capital raise and an asset sale, which generated SEK 2.5bn in cash. At the same time, Servicing income remained under pressure, and full-year External servicing income is now expected to be lower than in 2025.
- Servicing income declined, continuing the trend from the first half of 2026, mainly due to run-off in the Specialised markets. Traditional markets grew at a low single-digit rate, however overall growth was not enough to offset the decline in the Specialised markets. Germany’s negative trend continued and a goodwill impairment of SEK 1.5bn was recorded.
- In response to the challenges within Servicing, sales leadership has been strengthened in eight markets, including UK and Germany. New sales capacity has been increased by 30 percent and a more structured approach to commercial performance has been introduced.
- Further, the Operational Excellence programme was accelerated and has now been initiated in 17 countries, compared with seven planned for 2026. Under a plan to be finalised in Q4, total costs are expected to approach SEK 11bn in 2027.
- Investing volumes increased following the capital raise. SEK 617m was invested in the quarter at a blended IRR of 17%, compared with 18% a year ago, and year-to-date investments of SEK 1.2bn are in line with the full year 2025.
Presentation of the interim report
Johan Åkerblom, President & CEO, and Masih Yazdi, CFO, will present the Q3 2026 results, followed by a Q&A session, in a webcast with teleconference at 09:00 CET. The conference will be held in English.
If you wish to participate via webcast, please use this link. Via the webcast, you can ask questions in writing.
To participate via teleconference, please register here. Following registration, you will receive dial-in details and a conference ID. This format allows participants to ask questions verbally.
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