ANNUAL REPORT INTRUM JUSTITIA A N N U A L R EP O R T 2 0 ...

GROUP
Tangible and intangible fixed
assets by country
2010 2009
Sweden 602.7 447.0
Finland 545.4 211.9
Switzerland 229.3 275.1
Netherlands 128.1 142.1
France 173.1 205.2
Other countries 1,045.9 1,074.1
Total 2,724.5 2,355.4
Liabilities and provisions
Northern Europe 1,371.4 807.4
Central Europe 545.2 727.3
Western Europe 1,082.0 1,338.5
Other/Eliminations 1,539.8 1,376.8
Total 4,538.4 4,250.0
Investments in tangible and
intangible fixed assets
Northern Europe 64.2 82.9
Central Europe 20.9 69.5
Western Europe 39.8 33.5
Other/Eliminations 13.3 39.9
Total 138.2 225.8
Depreciation/amortization
Northern Europe –21.0 –21.5
Central Europe –22.5 –30.8
Western Europe –43.4 –53.8
Other/Eliminations –84.5 –58.8
Total –171.4 –164.9
Adjustments for other items
not included in cash flow
Northern Europe –3.2 0.6
Central Europe 1.7 –14.0
Western Europe –14.1 53.0
Other/Eliminations 1.3 –1.6
Total –14.3 38.0
Participations in associated companies
Western Europe 3.4 –
Other/Eliminations –1.7 0.3
Total 1.7 0.3
Revenues by service line
Credit Management 3,274.3 3,548.3
Purchased debt 860.5 924.1
Elimination of inter-service line revenue –368.8 –344.6
Total 3,766.0 4,127.8
Notes
Operating earnings by service line 2010 2009
Credit Management 471,9 398,3
Purchased debt 382,6 361,9
Goodwill impairment – –16,0
Participations in associated companies –0,9 0,3
Central expenses –123,0 –76,3
Total 730,6 668,2
Operating margin, %
Credit Management 14,4 11,2
Purchased debt 44,5 39,2
Group total 19,4 16,2
No individual customer is responsible for generating more than two percent
of the Group’s total revenue.
The distribution of revenues and earnings by geographical region is based
on where clients are located.
The geographical regions include Northern Europe (Denmark, Estonia,
Finland, Latvia, Lithuania, Norway, Poland, Russia and Sweden); Central
Europe (Switzerland, Slovakia, the Czech Republic, Germany, Hungary and
Austria) and Western Europe (Belgium, France, Ireland, Italy, the Netherlands,
Portugal, Spain and the UK).
Central and joint expenses are spread across the geographical regions in
proportion to their purchasing power parity-adjusted sales. The break-down
by geographical region is also used for internal monitoring in the Group.
Intra-Group sales between the regions are made on commercial terms.
Internal transactions between the business areas Financial Services and Credit
Management Services relate to payment on commercial terms for work
carried out within Credit Management regarding handling and collection of
the Group’s purchased debt. Payment is made in the form of a commission
that is recognized as a cost within purchased debt, but which is eliminated in
the Consolidated Income Statement.
NOTE 3
REVENUE DISTRIBUTION
GROUP PARENT COMPANY
SEK M 2010 2009 2010 2009
Collection fees, commissions
and debtors fees
2,439.8 2,728.8 – –
Subscription revenues 91.7 99.6 – –
Collections on
purchased debt
1,614.9 1,699.4 – –
Amortisation of purchased debt –803.3 –780.8 – –
Revaluation purchased debt 3.2 –35.7 – –
Credit card guarantee fees 45.7 41.2 – –
Revenues from
Group companies
– – 61.9 57.7
Other 374.0 375.3 – –
Total 3,766.0 4,127.8 61.9 57.7
The revenues from purchased debt consists of the collected amounts less
amortisations, i.e the decrease of the book value of the portfolio in the period.
See also Note 16.
Compared to 2009 a correction of paid back outlays in the Netherlands
has been made for 2010. This correction has no effect on the result. If it
would have been applied in 2009 the reported revenues would have decreased
by SEK 64.4 M.
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