Weak Q3 report dents debt collector Intrum shares

Intrum AB

23/10/2024 08:19

** Shares in Intrum  INTRUM.ST  fall 3% after the Swedish
debt collector's Q3 earnings missed estimates 
    ** The group's quarterly adjusted operating profit falls 5%
to 951 million Swedish crowns ($89.93 million) against 1.04
billion crowns seen in a company-provided poll
    ** "Overall, with a significant miss on adj. EBIT and cash
EBITDA also notably below expectations, we consider the Q3
report to be weak," Arctic Securities says in a note
    ** The brokerage also notes that while it is positive to see
margin expansion in Servicing, Intrum's key business area,
organic growth needs to pick up as it's still far from the >25%
targeted by 2026   

($1 = 10.5751 Swedish crowns)

 (Reporting by Izabela Niemiec)
 ((izabela.niemiec@thomsonreuters.com))