BOOSTING OUR BUSINESS

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2015 in brief CONTENT 2015 in brief 2 Intrum Justitia in brief 4 Statement by the CEO 6 Business concept, mission, vision, client benefit, strategies and goals Our services 11 Case: Interflora 13 Case: Scan 16 Corporate Social Responsibility (CSR) 8 17 Case: E.ON 20 Market and clients 21 Regions 22 Service lines 23 Employees and values 24 The share 29 Financial overview 31 Board of Directors’ Report Consolidated income statement Consolidated balance sheet Consolidated cash flow statement Consolidated changes in shareholders’ equity Parent Company income statement Parent Company balance sheet Parent Company cash flow statement Parent Company changes in shareholders’ equity 32 41 42 43 44 45 46 47 48 Notes 49 Audit report 77 Board of Directors 78 Group management team Corporate governance report 80 82 2015 – A broader client offering and improved results 2015 was an eventful year in which Intrum Justitia conducted a number of projects to increase the value we provide our clients. As a consequence both revenues and earnings improved. Below follow the most important key figures and events in condensed form. You will find a more detailed account in the CEO statement on pages 6–7. In 2015 we broadened our service offering when we launched flexible payment solutions for on-line merchants through the brands Avarda in the Nordic region and Byjuno in Switzerland. These services entail e-traders being paid directly when a sale is made, while consumers are offered monthly invoices or accounts with installment payments. Since 1998, Intrum Justitia has studied payment behaviors in Europe. In May the European Payment Report 2015 was launched, which, among other things, reports that late payments are a major threat to companies. When asked whether they would hire more employees if they received payments faster, 32 percent of the respondents answered yes. This means that around 8 million businesses would recruit more people if credit management functioned properly. In November, the European Consumer Payment Report 2015 was launched, in which Intrum Justitia examines consumer payment behavior. The report shows that life is difficult for young Europeans (18–24 years of age). More than 20 percent are unemployed and 23 percent are willing to leave their country to build a better future. In April Intrum Justitia received the credit rating BBB- from the credit rating agency Standard & Poor’s. This is a result of Intrum Justitia’s stable business model and strong financial position. Later the same year we strengthened our bank financing. All in all this means that Intrum Justitia is well positioned for further growth. In December we announced acquisitions of two large portfolios of receivables from financial institutions in the Northern Europe. The acquisitions means that Intrum Justitia continues to grow in this area. During the year we also strengthened our Credit Management Business via two smaller aquisitions – Logicomer in Portugal and Credita AG in Switzerland. Definitions 87 Information for shareholders 87 Addresses 88 The annual report and consolidated accounts are found on pages 32-76. Intrum Justitia Annual Report 2015
2015 in brief Revenues by region, % Western Europe, 24 Northern Europe, 46 Net debt/RTM operating earnings before depreciation and amortization, SEK M 3.0 2.5 2.0 1.5 1.0 0.5 0 2011 2012 2013 2014 2015 Central Europe, 30 Return on purchased debt, % 25 20 Consolidated net revenues for 2015 amounted to SEK 5,628 M (5,184). Organic growth was 3 percent (6). 15 10 5 0 2011 2012 2013 2014 2015 Revenues by service line, % Financial Services, 37 Earnings per share, SEK 25 20 15 10 5 0 2011 2012 2013 2014 2015 Credit Management Services, 63 KEY FIGURES SEK M, unless otherwise indicated 2015 2014 2013 2012 2011 Revenues 5,628 5,184 4,566 4,048 3,950 Net revenues excluding revaluations 5,597 5,149 4,559 4,127 3,931 Operating earnings (EBIT) 1,624 1,430 1,207 879 868 Operating margin, % 29 28 26 22 22 Earnings for the period 1,172 1,041 819 584 553 Investments in purchased debt 2,428 1,950 2,475 2,014 1,804 18% Operating earnings amounted to SEK 1,624 M (1,430). The operating margin was 29 percent (28). Net earnings amounted to SEK 1,172 M (1,041) and earnings per share amounted to SEK 15.92 (13.48) – an increase of 18 percent. Purchase Debt book value 7,027 6,197 5,411 4,064 3,088 Cash flow from operating activities 2,905 2,672 2,305 1,986 1,768 Earnings per share, SEK 15,92 13,48 10,30 7,32 6,91 Growth in EPS, % 18 31 41 6 22 Return on purchased debt, % 20 20 21 17 21 Net debt/RTM operating earnings before depreciation and amortization 1.8 1,9 1,6 1,5 1,4 18% The Board of Directors proposes a dividend of SEK 8.25 per share (7.00) – an increase of 18 percent. Intrum Justitia Annual Report 2015 3
Page 1: BOOSTING OUR BUSINESS Annual Report
Page 5 and 6: Intrum Justitia in brief Intrum Jus
Page 7 and 8: During the year we also strengthene
Page 9 and 10: Business concept, mission, vision,
Page 11 and 12: Our credit management offering Soun
Page 13 and 14: Case Interflora Interflora: A solid
Page 15 and 16: Our financial services offering Cus
Page 17 and 18: Corporate Social Responsibility (CS
Page 19 and 20: Intrum Justitia Annual Report 2015
Page 21 and 22: Market and clients Intrum Justitia
Page 23 and 24: Service lines Service lines Intrum
Page 25 and 26: Employees and values Shared values
Page 27 and 28: Employees and values Ciara McAdam S
Page 29 and 30: The share The share Intrum Justitia
Page 31 and 32: Financial overview Financial overvi
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Notes Cont. Note 1 changes in value
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Notes Cont. Note 13 Avarda AB Avard
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Audit report Audit report To the An
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Board of Directors Charlotte Ström
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Group Management Team Jean-Luc Ferr
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Corporate governance report present
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Corporate governance report issues.
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Definitions Average number of emplo
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