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INTRUM — Intrum AB News Story

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Intrum slumps after Q1 miss, unveils SEK 7.5 bln capital raise

** Shares in Intrum INTRUM.ST slumps over 20% after the Swedish debt collector misses Q1 expectations and announces fully guaranteed SEK 7.5 billion equity capital raise

** Q1 cash EBITDA came in at SEK 1.94 billion ($210.39 million), which SB1 Markets via Swedbank Aktiellt equity research service says was 4% below the consensus and 11% below its forecast

** It says Intrum reported a weak first quarter, with several key performance indicators falling short of expectations

** While new sales rose over 30% year on year, weak revenue conversion shows servicing income recovery still lags market activity, it adds

** "We expect a sharp negative reaction in the share price following the report, driven primarily by the substantial rights issue and the weak underlying earnings performance," the brokerage says

** The stock is on track for its biggest one-day loss in over 2 years, if losses hold

($1 = 9.2209 Swedish crowns)

 (Reporting by Jagoda Darlak)

 ((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))

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