Intrum Ab · OMXSTO:INTRUM
Intrum Ab — Q3 2026 Earnings Presentation
27 slides from Intrum Ab's earnings presentation, October 2026
Slide 1: Results presentation Third quarter 2026
Results presentation Third quarter 2026
Slide 2: Third quarter 2026 highlights
Third quarter 2026 highlights Servicing leverage ratio 5.7x 4.5x 3.0x Year end Q3 Target Capital raise, asset sale and good cost control takes the 2025 2026 2028 Servicing leverage ratio to 4.5x, compared to 5.7x at year end 2025 Negative Servicing income trend from H1 2026 continues, leading Total
Slide 3: Servicing: Stable margins
Servicing: Stable margins External servicing income (SEK m) & Organic growth (%) External servicing income Organic growth 3 466 3 348 • Organic growth in Traditional 2 911 3 028 2 979 2 916 markets only partially offset 2 737 2 878 2 743 natural decline in Specialised markets +3% +1% • Traditional m
Slide 4: External servicing income dynamics continue
External servicing income dynamics continue External servicing income evolution (SEK m) & Organic growth (%), YTD Q3 2026 vs Q3 2025 • The interplay between growth in the rest of markets vs natural -2% decay in Italy, Greece and Spain 8 922 2% has developed as expected -4% 8 741 • Traditional market
Slide 5: Operational excellence programme accelerated in Q3
Operational excellence programme accelerated in Q3 2026 2027 Country Q1 Q2 Q3 Q4 Q1 Process diagnostics Implementation phase Initial Norway plan Greece • 7 countries in 2026 Germany • Central OpEx team had limited capacity Finland • Analysis phase duration of ~3 months per Sweden country to validate
Slide 6: Investing: Collections in line with forecast
Investing: Collections in line with forecast Gross collections (SEK bn) & collection index vs original and active forecast (RTM %) • Collections in line with active forecast with a performance 14 index of 101% RTM Collection index RTM vs original forecast vs active forecast • SEK 617m Portfolio inve
Slide 7: Third quarter financials
Third quarter financials
Slide 8: Group key financials
Group key financials Third quarter 12 months Investing debt Servicing leverage SEK bn Servicing debt % % SEK m Q3 2026 Q3 2025 Change RTM FY 2025 Change Total income 3,820 4,056 -6 16,120 17,030 -5 6,2x Share of associates and JVs 429 102 n/a 827 532 55 5,7x 5,8x Total costs -4,512 -4,733 -5 -16,467
Slide 9: Servicing
Servicing Third quarter 12 months Servicing adjusted EBIT (RTM) SEK bn Servicing adjusted EBIT margin (RTM) % % 25% SEK m Q3 2026 Q3 2025 Change RTM FY 2025 Change External income 2,743 2,916 -6 11,706 12,270 -5 Internal income 356 387 -8 1,448 1,560 -7 3.4 3.5 3.4 3.3 3.3 3.3 Total income 3,099 3,3
Slide 10: Investing
Investing RTM avg. net unlevered underwriting IRR Cost of funds Third quarter 12 months % % 22% SEK m Q3 2026 Q3 2025 Change RTM FY 2025 Change 20% Income 1,075 1,127 -5 4,386 4,717 -7 18% 18% Share of associates and JVs 410 88 n/a 733 463 58 Unlevered net IRR Total costs -645 -584 10 -2,490 -2,515
Slide 11: Working on plan to approach SEK 11bn total costs in 2027
Working on plan to approach SEK 11bn total costs in 2027 Adjusted costs RTM (SEK bn) 14.0 • Cost discipline demonstrated 13.5 in the last two years, through 12.9 12.5 12.3 20% decrease in Personnel 11.9 11.9 11.8 costs and 14% decrease in Other costs Target • Currently undergoing a fundamental revie
Slide 12: Third quarter summary
Third quarter summary
Slide 13: Building financial strength and investment pace
Building financial strength and investment pace Lower leverage and cost of financing Goodwill in Germany fully written down Operational excellence programme accelerated – Working on plan to approach SEK 11bn total costs in 2027 Servicing Investing Negative External servicing income trends continue Y
Slide 14: Appendix
Appendix
Slide 15: Content
Content 1 Intrum’s markets structure 2 Outstanding debt 3 Net debt and maturity profile 4 Portfolio investments including associates and JVs 5 Current Money-on-Money multiple 6 Estimated Remaining Collections (ERC) 7 Associates and joint ventures 8 Unsecured portfolio vintages 9 Financial calendar ©
Slide 16: 1. Intrum's markets structure
1. Intrum’s markets structure Traditional markets are debt servicing markets with similar business models. These include Austria, Belgium, Denmark, Finland, France, Germany, Ireland, the Netherlands, Norway, Poland, Portugal, Sweden, and Switzerland Specialised markets are characterised by bespoke s
Slide 17: 2. Outstanding debt
2. Outstanding debt Nominal Currency amount (m) Amount (SEK m) Coupon rate Coupon frequency Maturity date ISIN Exchange notes / 2 Lien EUR 159 1,807 7.75% Quarterly 11/09/2027 XS3099983598 SEK 376 376 7.75% Quarterly 11/09/2027 XS3099986427 EUR 594 6,729 7.75% Quarterly 11/09/2028 XS3099990296 SEK 7
Slide 18: 3. Net debt and maturity profile
3. Net debt and maturity profile Net debt (SEK bn) 40.1 39.5 0,7 37.9 1,5 -2.9 37.2 External debt Notes payable Borrowings Other Gross Debt Cash and Cash Net debt obligations Equivalents External debt - Maturity profile (SEK bn) Term loan Senior secured notes Exchange notes RCF 5.2 9.3 7.5 7.5 5.9 2
Slide 19: 4. Portfolio investments incl. associates and joint ventures
4. Portfolio investments incl. associates and joint ventures 24% 22% 20% 19% 20% 18% 18% 16% 16% 14% 13% 13% 14% 12% 12% 13% 12% 10% 11 854 8% 6% 4% 7 857 8 106 7 324 7 537 2% 0% 5 509 5 012 -2% -4% 1 739 617 -6% 1 151 197 345 -8% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Q3 2026 Q1 2026 RTM
Slide 20: 5. Current Money-on-Money multiple
5. Current Money-on-Money multiple SEK m Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Purchase price of portfolios acquired in 1,675 2,854 409 528 328 364 294 486 264 136 294 432 227 154 614 quarter Lifetime ERC of portfolios
Slide 21: 6. Estimated Remaining Collections (ERC)
6. Estimated Remaining Collections (ERC) SEK bn 15-year ERC of SEK 45.5bn 10 32% of ERC due next 24 months Traditional markets Specialised markets Investing-focused markets 8 6 4 2 0 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13 Y14 Y15 ERC distribution (SEK bn) Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y
Slide 22: 6. Estimated Remaining Collections (ERC)
6. Estimated Remaining Collections (ERC) ERC by asset class Real Estate ERC by geography Other 2% Secured 17% UK 14% 19% Denmark 3% Sweden 4% Greece Italy 3% 15% Germany 5% Unsecured Hungary 85% 9% Spain Norway 13% 12% ERC by investment type ERC by industry Real estate 1% Other Forward 5% flows Tele
Slide 23: 7. Associates and joint ventures
7. Associates and joint ventures Portfolio Geography Senior ranking debt Intrum Investment Intrum Investment Cash received to date Current ERC to Intrum remaining share excl. senior (SEK m) by Intrum (SEK m) (SEK m) (SEK m) Portland Italy 240 29% 234 72 153 Winter Italy n/a 20% 200 196 41 Blue SPV I
Slide 24: 8. Unsecured portfolio vintages
8. Unsecured portfolio vintages Unsecured Purchase Collections Remaining Total estimated Total money-on- Constant currency vintage evolution for unsecured books books, SEK m price to date ERC collections money multiple <2010 5,556 15,166 935 16,101 2.90 4,20x 2010 1,377 4,064 553 4,617 3.35 2011 1,3
Slide 25: 9. Financial calendar
9. Financial calendar 4 February 2027 Interim report fourth quarter 2026 23 March 2027 Annual report 2026 22 April 2027 Annual General Meeting © Intrum 25
Slide 26: Disclaimer
Disclaimer • The material in this presentation has been transactions. currency risk. This presentation • All securities and financial product or prepared by Intrum AB (publ) (“Intrum”). may contain forward looking statements instrument transactions involve risks. which • This information is given in
Slide 27: Intrum
© Intrum