Added to YB: 2026-07-20
Pitch date: 2026-07-16
INTRUM.ST [neutral]
Intrum AB (publ)
Author Info
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Company Info
Intrum AB (publ), together with its subsidiaries, provides payment solutions, and credit and collection services in Europe and internationally.
Market Cap
SEK 440.1M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.29
P/E
-0.22
EV/Sales
2.75
Sector
Commercial Services and Supplies
Category
turnaround
The NPL Industry: Left for Dead, Antifragile, and Cheap. High Uncorrelated Returns? - Intrum AB
INTRUM.ST (overview): Europe's largest credit manager, capital-light pivot: investing book -40%, servicing 56% of profit, margin 16%→25%, profit only -15%. But post-Ch.11, mid-2026 SEK7.5B raise at 2.45 caused 23x dilution (136M→3.18B shares). Net debt SEK43.8B, 4.8x EBITDA. EV ~45B vs mcap ~10.6B. 2030 deleveraging = convex equity call option, SEK15-20B value shift if hit. Extremely hated, complex.
Read full article (2 min)