Download - Intrum Justitia

By service line
SEK M
Revenues
Group
2005 2004
Consumer Collection & Debt Surveillance 1,837.2 1,756.0
Commercial & International Collection 617.2 640.5
Purchased Debt 321.6 258.1
Other services 197.7 216.2
Elimination of inter-service line revenue –150.5 –130.3
Total 2,823.2 2,740.5
Operating earnings
Consumer Collection & Debt Surveillance 411.1 409.5
Commercial & International Collection 67.4 60.5
Purchased Debt 108.2 78.6
Other services –27.1 –36.9
Participations in associated companies 0.7 2.8
Central expenses –56.7 –83.9
Total 503.6 430.6
Operating margin, %
Consumer Collection & Debt Surveillance 22.4 23.3
Commercial & International Collection 10.9 9.4
Purchased Debt 33.6 30.5
Other services –13.7 –17.1
Group total 17.8 15.7
The distribution of revenues and earnings by geographic region is based on
where clients are located.
Central expenses that cannot be distributed by geographic area are
reported under central expenses, which also include expenses for head offi ce
operations.
Intra-Group sales between regions are made on commercial terms.
Because of how the Group and its subsidiaries are organized, a distribution
of assets and liabilities by service line would not be relevant.
NOTE 3 REVENUE DISTRIBUTION
Group Parent Company
SEK M
Collection fees, commissions
2005 2004 2005 2004
and debtors’ fees 2,355.8 2,226.4 0.0 0.0
Subscription fees 102.7 112.3 0.0 0.0
Revenues from purchased debt 321.6 258.1 0.0 0.0
Other revenues 193.6 274.0 29.0 39.0
Elimination –150.5 –130.3 0.0 0.0
Total 2,823.2 2,740.5 29.0 39.0
Revenues from purchased debt consist of collected amounts less amortization,
i.e., the decrease for the period in the book value of the portfolios.
NOTE 4 DEPRECIATION AND AMORTIZATION
Group Parent Company
SEK M
Capitalized expenditure for IT
2005 2004 2005 2004
development and other intangibles –48.9 –54.9 –0.4 –0.4
Computer hardware –20.3 –25.5 –0.2 –0.2
Other equipment –18.4 –18.9 –0.1 –0.3
Total –87.6 –99.3 –0.7 –0.9
Amortization has been charged to each function as an operating expense as
follows:
Group Parent Company
SEK M 2005 2004 2005 2004
Cost of sales –68.3 –69.9 – –
Sales and marketing expenses
General and administrative
–8.0 –11.9 – –
expenses –11.3 –17.5 –0.7 –0.9
Total –87.6 –99.3 –0.7 –0.9
NOTE 5 PARTICIPATIONS IN
ASSOCIATED COMPANIES
SEK M
Group
2005 2004
Intrum á Íslandi ehf., Reykjavik (Iceland) 0.7 2.8
Total 0.7 2.8
NOTE 6 INTEREST INCOME AND SIMILAR ITEMS
Group Parent Company
SEK M
Interest income from Group
2005 2004 2005 2004
companies – – 92.2 41.3
Other interest income 15.0 11.1 1.6 0.8
Total 15.0 11.1 93.8 42.1
NOTE 7 INTEREST EXPENSES AND
SIMILAR ITEMS
Group Parent Company
SEK M
Interest expenses to Group
2005 2004 2005 2004
companies – – –6.8 –6.3
Interest expenses –36.9 –42.6 –30.7 –8.3
Translation differences –0.4 0.1 6.9 –8.5
Amortization of capitalized debt costs –2.2 –0.7 –2.2 –
Other fi nancial expenses –6.9 –4.3 –2.1 –3.5
Total –46.4 –47.5 –34.9 –26.6
Translation differences from accounts receivable and accounts payable are
reported in operating earnings. The amounts were negligible.
NOTE 8 CURRENT AND DEFERRED TAX ON
EARNINGS FOR THE YEAR
Pretax earnings and the tax charge for the year for Swedish and foreign
operations were as follows:
Group
SEK M
Earnings before tax
2005 2004
Sweden 131.5 87.3
Foreign 340.7 306.9
Total 472.2 394.2
Current tax
Sweden –22.2 –1.4
Foreign
Deferred tax
–87.2 –39.2
Sweden 1.4 –23.2
Foreign –30.6 –7.0
Total –138.6 –70.8
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