Key financial highlights for Q1 2025 (Q1 2024)

• Income decreased 3% to SEK 4,276 M (4,430)
• EBIT increased 117% to SEK 1,032 M (475)
• EBIT margin increased to 24% (11)
• Adj. EBIT increased 27% to SEK 1,098 M (864)
• Cash EBITDA from continuing operations increased to SEK 2,211 M (1,997)
• Group costs decreased by 20% and cost income ratio decreased by 16%
• Total adjusted cost decreased 14% to SEK 3,256 M (3,777) and cost income ratio decreased 9%
• Net income increased to SEK 101 M (-238)
• Leverage ratio stable at 4.5x compared to Q4 2024 and increased 0.1x vs Q1 2024 (4.4x) primarily due to Cash EBITDA decreasing post asset sale

Servicing:

• Increased macro uncertainty and geopolitical tensions led to growing demand for credit management services
• Strong uplift in Servicing Adjusted EBIT margin, which increased 12 percentage points to 21% in the first quarter
• Margin improvement expected to continue towards stated 2026 goal of 25% and beyond
• Income levels increasing in most markets alongside rigorous management of cost base resulting in Servicing EBIT increasing to SEK 689 M (163), a 322% increase year on year
• External Servicing income decreased 2% to SEK 3,028 M (3,093) primarily due to client rationalisation

Investing:

• Collection performance exceeded expections: 102% vs. active forecast and 108% vs. original forecast
• Income decreased 6% to SEK 1,243 M (1,328) compared to Q1 2024, driven by a smaller investing book
• Continued progress in pivot to capital-light operating model: finalised strategic investment partnership with Cerberus, enabling Group to scale investment activities without increasing debt. Partnership leverages market leading investment and servicing platform generating return on direct investment as well as significant investment management and servicing fee-based revenue
• New portfolio investments of SEK 272 M (371) at an IRR of 24% (17)

Rollout of New Technology:

• Accelerated rollout of Ophelos moves Group closer to becoming a technology company focused on credit management services. Ophelos is live in six markets with two more to be implemented by Q2 2025
• The results are consistently strong, demonstrating the powerful combination of increased collection rates and improved cost-to-collect
• On track for Ophelos to cover majority of commercial footprin and demonstrate material run-rate impact by year-end
• Launch of voice AI agent, Olivia in Spain (largest Servicing market) - early results indicate efficacy on par or better than human agents

Recapitalisation:

• Backed by overwhelming stakeholder support, the company’s recapitalisation is nearing completion, following court confirmations of the Chapter 11 plan in the US and the Swedish reorganisation plan
• The Recapitalisation transaction is expected to close in early July, with existing bonds exchanged and new equity issued

Andrés Rubio, President & CEO of Intrum AB said:

“In the first quarter, we made meaningful progress across all three of our strategic pillars: operational excellence, client focus, and our transition to a capital light business model. We accelerated our transformation journey through the roll-out of technology and finalisation of our strategic investment partnership with Cerberus and are setting the foundation for future success and growth. The overwhelming support we received from our stakeholders on the Chapter 11 and Swedish reorganisation processes is a testament to the belief that our stakeholders have in the underlying fundamentals of our business. As macro uncertainty continues, clients and customers increasingly turn to us for support and we are proud of the key role we play in reintegrating individuals back into the financial ecosystem while helping clients get repaid.”

Presentation of the interim report

Andrés Rubio, President & CEO, and Johan Åkerblom, CFO, will present the results and answer questions in a webcast with teleconference at 9:00 a.m. CET. The conference will be held in English.

If you wish to participate via webcast, please use this link. Via the webcast you are able to ask questions in written.

To participate via teleconference, please register here. After registration you will be provided phone numbers and a conference ID to access the conference. Via the teleconference you can ask questions verbally.

For further information, please contact:

Investor Relations
Anders Bengtsson, Investor Relations Manager
ir@intrum.com

Media Inquiries
Kristin Andersson, External Communications Director
+46 70 585 78 18
kristin.andersson@intrum.com