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Statement by the CEo
4 ANNUAL REPORT 2011
What would
an additional
EUR 300 billion
do for Europe’s
economy?
on these pages, I would like to convey our mission – why we
are here and what we contribute to companies and consumers
in Europe. I want to relate what this contributes to our clients
and, in turn, to their customers. I would also like to tell you
about what we did in 2011 – a little of what lay behind the
strong results that Intrum Justitia has reported. And I would
like to talk about the future.
I
would like to begin by thanking all of our clients for their confidence
in us and all of our employees for their strong commitment. We look
back on a strong year in 2011 – one of the strongest in Intrum Justitia’s
history in fact. Our operating result rose by 22 percent adjusted for
currency and net earnings per share rose by 22 percent.
SURELY WE ALoNE CANNoT SAVE EURoPE fRom CRISIS?
It’s one thing to be paid late – another entirely to not be paid at
all. Last year, receivables valued at more than EUR 300 billion were
written off in Europe. That means companies lost out on payments for goods
or services that they had delivered to the tune of no less than EUR 300 billion!
A somewhat dizzying thought – but also a good motivator for me as CEO. Just
think what an additional EUR 300 billion would do for Europe’s economy.
Alone it would not be enough to save Europe from its current crisis, but it
would certainly help it on the way.
It is our mission to act as a catalyst for a sound economy. Fundamentally, it
is a matter of ensuring that credit and payment flows function as they should.
A sound economy that is growing and providing new job opportunities builds