Download - Intrum Justitia

More documents

Recommendations

Info

Contents Anette Sjöblom, customer support; Eric Burton, Business Development manager; Linus Hansson, CRM; Sara Gustavsson, IT manager; and Johanna Nyberg, project manager at Intrum Justitia Sweden. Sebastiaan Dommisse, supervisor Consumer Collection at Intrum Justitia Netherlands. This Annual Report is a translation from a Swedish original. In the event of any differences between this translation and the Swedish Annual Report (Årsredovisning 2005), the latter shall govern. 3 Statement by the CEO 5 Objectives and strategy By staying close to clients and debtors, we are better able to offer services tailored to the local market’s maturity, regulations and practices. 6 Operations and offering In most cases the older a debt becomes, the more diffi cult it is to collect, which makes time a critical element in all credit management activities. 10 Clients discuss Intrum Justitia 12 Market and clients The upward trend in CMS outsourcing, continued deregulation and rising indebtedness are key driving forces behind market growth. 16 Regulatory systems and legislation 18 Payment behaviour in Europe 19 Intrum Justitia in Europe Following our latest acquisition, a leading CMS company in Slovakia, we have our own operations in 22 countries. 22 Employees 24 Financial review and defi nitions 26 The share and shareholders Annual report, consolidated accounts and audit report 29 Board of Directors’ report 34 Proposed disposition of profi t 35 Income statements 36 Balance sheets 38 Cash fl ow statements 39 Changes in shareholders’ equity 40 Notes 63 Audit report 64 Corporate governance report 70 Report on internal control 71 Information for shareholders 71 A history of debt collection Cover Raquel Vidal, accountant; Alfonso Latorre, account manager; and Ana Fernández, administrator at Intrum Justitia Spain.
Europe’s leading Credit Management Se Intrum Justitia is Europe’s leading Credit Management Services (CMS) company. Our offering covers every stage of these services, from credit information and invoicing through sales ledger services, reminders and collection to debt surveillance and collection of writtenoff receivables. We also work with purchased debt and specialized services related to credit management. By offering effi cient services and high quality in relationships with both clients and debtors, we help our clients to improve their cash fl ow and long-term profi tability. Founded in Sweden in 1923, Intrum Justitia has more than 90,000 clients and around 2,900 employees in 22 European countries. The head offi ce is located in Nacka, outside Stockholm, Sweden. The Intrum Justitia share has been listed on Stockholmsbörsen (Stockholm Exchange) since June 2002. KEY FIGURES FOR THE GROUP 2005 2004 Revenues, SEK M 2,823.2 2,740.5 Operating profi t (EBIT), SEK M 503.6 430.6 Net earnings, SEK M 333.6 323.4 Operating margin, % 17.8 15.7 Return on operating capital, % 22.3 21.6 Return on shareholders’ equity, % 23.0 23.2 Net debt, SEK M 1,192.7 480.2 Net debt/equity ratio, % 90.6 31.4 Equity/assets ratio, % 31.8 42.3 Interest coverage ratio 11.2 9.3 Collection cases in stock, million 13.1 11.6 Gross collection value, SEK billion 93.3 79.4 Average number of employees 2,836 2,945 All fi gures according to IFRS. The fi ve-year fi nancial review and defi nitions are on pages 24–25. Key data per employee is shown on pages 22–23. Share data is on pages 26–27. REVENUES (EXTERNAL) BY REGION 2005 Poland, Czech Republic, Slovakia & Hungary, 6% France, Spain & Portugal, 13 % Finland, Estonia, Latvia & Lithuania, 13 % Switzerland, Austria & Italy, 14 % REVENUES (EXTERNAL) BY SERVICE LINE 2005 Other services, 6 % Purchased Debt, 11 % Commercial & International Collection, 21% Sweden, Norway & Denmark, 23 % United Kingdom & Ireland, 11 % Netherlands, Belgium & Germany, 20% Consumer Collection & Debt Surveillance, 62 % OUR MARKET SHARES >25 % 10–25 %
Page 1: ANNUAL REPORT 2005
Page 5 and 6: Statement by the CEO Intrum Justiti
Page 7 and 8: Objectives and strategy BUSINESS MI
Page 9 and 10: While there is every reason to impr
Page 11 and 12: Credit information and decision In
Page 13 and 14: Each year we have700,000 700,000 in
Page 15 and 16: Higher indebtedness among household
Page 17 and 18: CUSTOMIZED SERVICE OFFERINGS Intrum
Page 19 and 20: Moreover, Intrum Justitia commented
Page 21 and 22: Intrum Justitia in Europe With oper
Page 23 and 24: Switzerland, Austria & Italy When I
Page 25 and 26: The four-day program for the Group
Page 27 and 28: 2004 SEK M 2005 IFRS 1 2004 GAAP 1
Page 29 and 30: Principal shareholders and ownershi
Page 31 and 32: Board of Directors’ report The Bo
Page 33 and 34: DEPRECIATION/AMORTIZATION The Group
Page 35 and 36: ENVIRONMENTAL IMPACT The company ha
Page 37 and 38: Income statements Group Parent Comp
Page 39 and 40: Group Parent Company SEK M SHAREHOL
Page 41 and 42: Changes in shareholders’ equity N
Page 43 and 44: SEK at the average rate, which serv
Page 45 and 46: Classifi cation as a discontinued o
Page 47 and 48: are made at the portfolio level, si
Page 49 and 50: By service line SEK M Revenues Grou
Page 51 and 52: SEK M 2005 2004 Sweden 369.0 369.0
Page 53 and 54:
NOTE 12 COMPANIES REPORTED ACCORDIN
Page 55 and 56:
NOTE 19 OTHER PROVISIONS Group SEK
Page 57 and 58:
NOTE 25 SALARIES AND OTHER REMUNERA
Page 59 and 60:
NOTE 32 FINANCIAL INSTRUMENTS AND C
Page 61 and 62:
Effects of acquisitions Acquisition
Page 63 and 64:
Consolidated Balance Sheet, Group J
Page 65 and 66:
Audit report To the annual meeting
Page 67 and 68:
1 2 3 4 5 6 7 1. Bo Ingemarson, age
Page 69 and 70:
AUDIT COMMITTEE The purpose of the
Page 71 and 72:
Compensation principles and employm
Page 73 and 74:
Information for shareholders Annual
show all

Download - Intrum Justitia

Create successful ePaper yourself

Delete template?

Save as template?