Tomorrow, July 18, we will announce Intrum's financial results for the second quarter of 2024. Welcome to listen in to the presentation at 09:00 a.m. CET, where Andrés Rubio, President & CEO, and Emil Folkesson, Interim CFO & IR Director, will comment on the latest developments.
Intrum’s Post
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Yesterday Intrum's Q3 Financial report was released. Income levels have dropped 5% and despite portfolio sales releasing cash the level of leverage in the business have increased from 3.9 to 4.2x. This adds pressure to the needs to complete balance sheet restructure and drive down cost. It appears the creditors are progressing well within the Chapter 11 framework but how much more can Intrum bring down the cost to collect in challenging economic times? This has already been the strategy for a number of years.
Today, Intrum announced its financial results for the third quarter and reports a steady financial performance and significant progress towards key financial targets and comprehensive recapitalisation. Intrum’s President & CEO, Andrés Rubio, comments: “I am pleased with the progress we have made this quarter in both the Servicing and Investment businesses and our cost reduction initiatives are delivering. We also received overwhelming support from creditors on our recapitalisation transaction, which will ensure we have a capital structure which is aligned with our long-term business plan." "We remain committed to our capital-light strategy which enables us to scale our investment activity without increasing our debt, while benefitting from long term servicing and portfolio management revenue. We continue to be focused on deleveraging, further strengthening our market-leading position and achieving our financial targets for 2026.”
Intrum AB – Interim results July-September 2024 | Intrum
intrum.com
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How valuable is that small business or professional practice in the window? Calculating a reasonably accurate answer isn't exactly simple, but it's not so complicated either. That's why valuation professionals often turn to a metric called "seller's discretionary cash flow." This article explores how the metric is calculated and why it tends to fit small businesses and professional practices. Read more here: https://lnkd.in/gy-g4XiV #PattenAndCompany #CPAExcellence #CPAInsights #SmartMoneyMoves #TaxTips2024 #AccountingMastery #FutureReadyCP #WealthBuilders #FinancialResources #FinancialKnowledge
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Thank you Alejandro Algaba for bringing this article to my attention. I figured I should turn it into an anecdote post even though I was not directly involved in this. You mentioned that there might be some cultural differences involved in this situation. I agree! If anyone had asked me, I would have suggested to look out for the following: * The Germans perceived UniCredit's move as aggressive. They were likely looking for more transparency and a more collaborative, and deliberate approach instead. * There's also an ideological divide. The German government would prefer to maintain control plus the German government probably would prefer to avoid anything perceived as controversial during election season. * On a domestic (and more micro) level, there seems to be a lack of communication between different levels of the German government, which I would attribute to: 1) Silo thinking within organizations, which is linked with strict perceptions of space and ownership over one's own area of expertise and responsibilities at work (and in private), which, in turn, can cause lots of problems due to a lack of transparency, and alignment, and thus, the inability to react spontaneously when necessary. This type of silo thinking is also exacerbated by a very low tolerance of uncertainty. Thank you for the article Olaf Storbeck Silvia Sciorilli Borrelli Ivan Levingston Guy Chazan
Berlin blindsided after JPMorgan asked UniCredit to bid for Commerzbank stake
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3moGreat work!!