Intrum AB (publ) (ITJTY) Q2 2026 Earnings Call Transcript

Intrum AB (publ) ( ITJTY ) Q2 2026 Earnings Call August 28, 2026 3:00 AM EDT

Company Participants Johan Akerblom - President & CEO Masih Yazdi - Group Chief Financial Officer Annie Ho - Head of Treasury & Investor Relations

Conference Call Participants Patrik Brattelius - ABG Sundal Collier Holding ASA, Research Division Bjorn Olsson - SEB, Research Division Johan Ekblom - UBS Investment Bank, Research Division Ermin Keric - DNB Carnegie, Research Division Corinne Cunningham - Bernstein Autonomous LLP Robert Dinic - DNB Carnegie, Research Division

Operator: Welcome to the Intrum Q2 2026 report presentation.

Johan Akerblom: Thank you, and good morning, everyone. Welcome to this second quarter report call. We start with the first page where we want to do a couple of highlights. I'd like to comment that, I mean, this is the second quarter where we are executing on our new strategy. The #1 priority when we introduced our strategy was how to improve the leverage and the balance sheet of the company. And as you all know, a huge amount of work has been dedicated to do exactly so in Q2 with the capital raise and the SEK 2.4 billion portfolio sale. And we have also seen the effects of that by Standard & Poor and Moody's improving our credit ratings. The operation -- sorry, the service leverage ratio on a pro forma basis has moved from 6.2 to 4.3 and the long-term target is 3.0. We also see that our operational transformation is continuing to pay off. Our costs are developing according to plan. And when looking at F fees, which is one of the things that we are working with making our processes automated or [ AI ]or just more efficient.