Collector makes rearrangements to the income statement
In connection with the interim report for the period January-September 2020 Collector will make rearrangements to the income statement. The adjustments affect certain key ratios but do not impact the net profit. Historical financials are published in conjunction with this press release.
Collector will in connection with the interim report for the period January-September 2020, which will be published on October 22, make a number of adjustments to items in the income statement. Consequently, certain items in the income statement and certain key ratios will be affected. The adjustments do not have an impact on the net profit or the balance sheet. The purpose of the rearrangements is to increase comparability with other companies on the market.
Below is a summary of the main adjustments that have been made.
- Distribution costs to intermediaries are moved from the item Commission expense to the item Interest income and is accounted for as negative interest income
- Debt collection fees are moved from the items Interest income and Other income to the item Commission income
- Reminder fees are moved from the item Other income to the item Commission income
- Personnel expenses are separated from the item General and administrative expenses. The remaining expenses within the item General and administrative expenses are moved to the item Other expenses
- Revaluations of purchased debt portfolios are moved from the item Interest income to the item Credit losses, net
Historical financial development based on the new presentation format is attached to this press release and is also available on Collector’s website https://www.collector.se/en/about-collector/investors/financial-information/.
For more information, please contact:
Peter Olsson, CFO
Phone: +46 73 712 04 46
Madeleine Mörch, Finance & IR Manager
Phone: +46 73 712 04 52
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