Alphaboard - research by investors.

Intrum is a potential turnaround case with vision to have solid finances FY28. Intrum has been through Chapter 11 in 2025 and has raised SEK 7.5 billion July 2026. The company had a lot of debt 46 billion before the capital raise. The Price/Book value looks good at first glance, but there is about 33 billion of Intangible assets on the balance sheet, which I guess isn't worth much in reality. There is about 20 billion of assets related to investments in debt that is part of the company's core business to work with. There are several analysts and all of them have a positive outlook. The credit market also proved to be open for the company when they issued a €525 million bond at 7%, which is essential for the business. The company has other bonds at higher rates. On the positive side the cash generation in the business seems to be good. I haven't followed Intrum previously. During the day of 26Q2 release the stoch price first punged 6% but ended up +3% for the day. This is a high risk stock but I guess they will succed in the transformation and then the company could go up from today's SEK 3.9 to SEK 6, i.e. 50%, untill 2028.