Special Edition Covid-19 White Paper European Payment ... · Amidst unprecedented disruption, safe-...

Special Edition Covid-19 White Paper

European Payment Report 2020

Intrum in brief 02

How Covid-19 is affecting the European payments landscape

03

Europe enters historic recession 04

Spanish businesses fear the worst, while Dutch firms are more optimistic

06

Hospitality and leisure has taken a hard hit

09

Late payment hits liquidity 10

SMEs are vulnerable to unfavourable payment terms

12

Light at the end of the tunnel 14

About the report 17

About the survey 18

Our other publications 19

Adresses 20

A client offering provided through two service linesWe ensure that companies are paid by offering two types of services – credit management services and portfolio investments. We perform credit manage-ment services on behalf of companies to ensure that their customers pay them for the goods and services they sell. In our portfolio investment operations, we assume responsibility for overdue receivables, whereby we pay the client and then seek a solution with the cus-tomer for settling the receivable. Beyond this, we offer a full range of services covering companies’ entire credit man-agement chain.

10,000 employees take care of 250,000 customer contactsAbout 10,000 people work at Intrum. We help our clients develop by caring for their customers. This is achieved through the roughly 250,000 customer contacts that our employees have on a daily basis, in which we help people and compa-nies become debt-free while our clients secure payment.

80,000 clients in 25 countriesIntrum has some 80,000 clients in the 25 countries in which we operate. They are active in many sectors, and we specialise in assisting major companies and finan-cial institutions with large volumes of receivables. Our clients also include tens of thousands of small and medium-sized companies.

Three strategic areas driving our efforts to achieve a sound economyEnable sustainable payments By ensuring sustainable payment flows between companies and individuals, we fulfil an important function in society and promote a sound economy.

Growing by making a difference Our market-leading position allows us to drive the development of the entire industry in a more ethical direction, thereby creating value and meaning for our employees.

Being trusted and respected A basic prerequisite for us to succeed in our efforts is that we have the complete trust of our clients and their customers.

Intrum in briefContents Intrum’s purpose is to lead the way to a sound economy.

A credit market in which people and companies can effi-ciently provide and receive credit is a prerequisite for the business community to be able to function. The oppor-tunities increase for a society and its economy to flourish if companies are paid on time, as this enables them to invest, employ and grow – at the same time, individuals lift themselves out of debt and are therefore able to improve their circumstances.

3

How Covid-19 is affecting the European payments landscapeThe Covid-19 crisis has left businesses facing unparalleled uncertainty. Maintaining a steady cashflow through timely payment is more important than ever.

Europe’s lockdowns have put businesses under pressure. As slowing economic growth reduces demand and supply chains are disrupted, many are now operating in survival mode. The long-term economic effects of Covid-19 will not only impact businesses across Europe, but also consumers, as financial pressures negatively impact their ability to pay invoices to companies.

Amidst unprecedented disruption, safe- guarding cashflow has become a question of survival. Our survey of 9,980 companies across 29 European countries reveals the impact of the Covid-19 crisis on business outlook and payment behaviour.

Our survey shows that, despite the challenges being faced, businesses are looking to navigate the storm, seeking initiatives to prevent late payments at both the national and European level. Half of respondents would like to see the introduction of new legislation to tackle the problem of late payment – a 5 per-cent rise compared to last year’s survey.

42%

4 EPR 2020 Special Edition Covid-19 White Paper

Europe enters historic recession

“Europe is experiencing an economic shock without precedent since the Great Depression,’’ said EU economy chief Paolo Gentiloni in May.1 Businesses are waking up to this reality: 56 percent of our survey respondents say their country is already in recession or will be within a year, compared with 28 percent in last year’s survey.

This recession is unique in nature as businesses have been forced to close due to government lockdowns following the Covid-19 pandemic, rather than due to a falling demand for products and services. The impact that this will have on busi-nesses is reflected in our survey: While 26 percent of those surveyed this year before the crisis said that a recession would have a severe impact on their businesses, 44 percent of those surveyed during the Covid-19 crisis say the same.

That sentiment is backed up by a bleak economic outlook. The European Commission has released projections that Europe’s economy will shrink by 7.4 percent this year, while a second wave of the outbreak would trigger an even steeper decline.2 To boost much needed cashflow, the EU has announced plans for a €750 billion recovery fund to boost the economy and support businesses.3

1) Economic and Financial Affairs Newsroom, European Commission, May 2020 https://ec.europa.eu/newsroom/ecfin/item- detail.cfm?item_id=676321&utm_source= ecfin_newsroom&utm_medium=Website&utm_ campaign=ecfin&utm_content=Paolo%20Gentiloni%20European%20Commissioner%20for%20the%20Economy&lang=en

2) E.U. is facing its Worst Recession Ever. Watch Out, World, The New York Times, May 2020 https://www.nytimes.com/2020/05/06/business/coronavirus-europe-reopening-recession.html3) EU announces financial ‘firepower’ of 1.85 trillion with 750 billion for Covid recovery, Euronews, May 2020 https://www.euronews.com/2020/05/27/eu-commission-set-to-unveil-trillion-euro-coronavirus-

recovery-plan

of those surveyed during the Covid-19 crisis say the that a recession would have a severe impact on their businesses compared to 26% of those surveyed this year before the crisis.

44%

5

Do you believe that a recession is imminent in your country? Graphs show all respondents who say their country is either in a recession, or expect one within 1 year.

% 0,0 0,2 0,4 0,6 0,8 1,0

ItalyBelgiumSlovakiaPortugal

Czech RepublicSpain

LithuaniaAustria

RomaniaGermany

EU averageDenmark

FranceGreeceEstoniaFinland

SwedenHungaryNorway

The NetherlandsUnited Kingdom

PolandLatvia

SwitzerlandSerbia

SloveniaBosnia Herzegovina

IrelandBulgariaCroatia

83%

81%81%

76%74%

73%60%59%58%58%

55%55%55%

56%

51%51%51%

50%50%49%49%

48%45%

43%38%

37%36%

35%33%

27%

Split by country:

Pre-crisis During crisis0

10

20

30

40

50

60

70

80

42%

64%

European average, Covid-19 break down:

SME Large corporation0

10

20

30

40

50

60

57% 55%

European average, SME vs Large corporation:

2019 20200

10

20

30

40

50

60

28%

56%

European average:


Spanish businesses fear the worst, while Dutch firms are more optimistic

What do you foresee as the major challenges facing customers paying on time and in full over the next twelve months?

It is therefore no surprise that respondents say that a pan- European recession is the greatest challenge facing payment in the short term. Since the outbreak of Covid-19, two-thirds (57 percent) of respondents rank the risk of pan-European recession within the top three challenges for customers paying on time over the next 12 months – an increase of 20 percent since before the crisis.

Spanish respondents are the most concerned: 92 percent rank it within the top three payment challenges over the next 12 months, and over half (54 percent) expect it to have a severe impact on their businesses. These figures are the highest in Europe.

Spain’s economy has been hit hard by the crisis: the Bank of Spain has predicted that GDP could drop by 13 percent this year,4 and the shrinking economy is putting many jobs at risk. At 14 percent, unemployment was already a major concern before the crisis hit. Now, it is expected to reach 19 percent by the end of the year.5


0,0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8

The risk of a pan-European recession

Debtors in financial difficulties

An uncertain trading environment (Global trade wars/Middle Eastern conflict)

An over-reliance on unsecured loans among our business partners

Administrative inefficiency of our customers

Disputes regarding goods and services delivered

Intentional ignorance

A lack of business experience among customers

Legislation issues

None

66%

33%

28%

24%

28%

26%

27%

27%

41%

4) Spain predicts unemployment will reach 19 percent, Politico, May 2020 www.politico.eu/article/spain-predicts-coronavirus-covid19-unemployment-will-hit-19-percent/5) Ibid.

38%

38%

33%

28%

37%

36%

29%

25%

26%

2%

1%

Pre- crisis

During crisis

7


10

20

30

40

50

60

70

80

41%

66%


Respondents who ranked “Risk of a pan-European recession” as main payment challenge of their customers paying on time and in full over the next twelve months:

Split by country:

% 0,0 0,2 0,4 0,6 0,8 1,0

SpainPortugal

Czech RepublicSlovakia

DenmarkFinland

GermanyPoland

SwitzerlandUnited Kingdom

SwedenHungary

LatviaNorway

ItalyEU average

BelgiumGreece

SloveniaIreland

BulgariaSerbia

Bosnia HerzegovinaFrance

RomaniaAustriaEstonia

The NetherlandsLithuania

Croatia

92%

80%83%

79%69%69%

68%68%68%67%

64%64%

63%

65%

61%57%

47%41%41%

40%39%39%

37%37%37%

36%36%36%35%

33%


10

20

30

40

50

60

58% 56%



Respondents who anticipate the recession to have a severe negative impact on their company: Graph show all respondents who say their country is either in a recession, or expect one within 5 years.

Split by country:

% 0,0 0,1 0,2 0,3 0,4 0,5 0,6

SpainPoland

PortugalSwitzerland

GermanyFinland

SwedenDenmarkHungarySlovakia

ItalyLatvia

United KingdomNorway

EU averageCzech Republic

BulgariaRomania

Bosnia HerzegovinaCroatia

SloveniaAustriaFranceSerbia

LithuaniaEstonia

BelgiumGreeceIreland

The Netherlands

54%

47%48%

47%46%

45%45%

44%44%44%

43%42%41%

43%

38%37%

35%34%

33%31%31%

30%30%30%

29%27%

24%24%

21%14%

Dutch respondents, on the other hand, are more optimistic about the impact of a recession on their business: 14 percent expect it to have a severe impact on their business – the low-est figure across Europe.

The Dutch government is taking steps to lessen the impact of a recession on businesses. Prime Minister Mark Rutte recently announced a EUR 13 billion package of emergency measures to support businesses through the crisis. Such measures will be vital to rebuilding economies across Europe post-crisis.6

6) ‘Dutch push another EUR13 billion into business support’, NLTimes, May 2020 https://nltimes.nl/2020/05/20/dutch-push-another-eu13-billion-coronavirus-business-support

of the Dutch respondents expect the recession to have a severe impact on their business.

14%

9

Split by industries:

Hospitality and leisure has taken a hard hit

Government restrictions on travel, shopping, dining out, exer-cise and other leisure activities have hit Europe’s hospitality and leisure industry hard. About 4 in 10 survey respondents from this sector (42 percent) say that a recession will have a severe impact on their businesses – the highest figure of the 11 industries we surveyed.

Lockdowns are gradually being lifted across Europe, but the shutdown of the past few months is likely to have a lasting impact on businesses in the hospitality and leisure sector. In April, the European Commission estimated that Europe’s hotel and restaurants will lose half their revenue this year, while tour operators and travel agencies are set to lose 70 percent, and cruises and airlines a staggering 90 percent.7

Respondents who anticipate the recession to have a severe negative impact on their company: Graph show all respondents who say their country is either in a recession, or expect one within 5 years.

0,0 0,1 0,2 0,3 0,4 0,5

42%

41%

41%

40%

40%

39%

38%

37%

36%

35%

31%

Hospitality & leisure

Industrials & Chemicals

Energy, mining & utilities

Banking, Financial Services & Insurance

Consumer (incl. Retail)

Real Estate & Construction

Pharma, Medical & Biotech

Tech, media & telecoms

Transportation & logistics

Business services

Government & public sector

H

ospi

talit

y &

leisu

reIn

dust

rials

& C

hem

ical

sEn

ergy

, min

ing

& ut

ilitie

s

Bank

ing,

Fin

anci

al S

ervi

ces &

Insu

ranc

eC

onsu

mer

(inc

l. Ret

ail)

Real

Est

ate

& C

onst

ruct

ion

Phar

ma,

Med

ical

& B

iote

chTe

ch, m

edia

& te

leco

ms

Tran

spor

tatio

n &

logi

stic

sBu

sines

s ser

vice

sG

over

nmen

t & p

ublic

sect

or

7) Speech by Commissioner Thierry Breton at the European Parliament on 21 April 2020, European Commission, April 2020 https://ec.europa.eu/commission/commissioners/2019-2024/breton/announcements/speech-commissioner-breton-marshall-plan-european-tourism_en


Late payment hits liquidity

Our survey finds that the most pressing concerns for European businesses in terms of late payment are a reduction in liquidity and their ability to survive: 45 percent say that late payment reduces their liquidity, and 38 percent say it threatens their survival.

The Covid-19 crisis has placed an even greater pressure on European businesses to safeguard their liquidity. Sharp drops in GDP across Europe are pushing down revenues for businesses, restricting cashflow while increasing pressure on businesses to manage their cash and liquidity more efficiently.

A decline in consumer demand following government lock-down measures presents a long-term challenge to European businesses. As they look to save costs through reducing head-count, this may in turn negatively impact consumers’ ability to pay invoices due to lower disposable income.

This trend is reflected in our survey. Over half (51 percent) of respondents say that late payment reduces their liquidity during the Covid-19 crisis, compared with 35 percent of those surveyed before the impact was felt. Businesses that are able to safeguard their liquidity will emerge stronger from the Covid-19 crisis, while those with less liquidity to fall back on may find themselves under threat.

say that late payment reduces their liquidity, and 38% say it threatens their survival.

45%

Respondents who say late payments have a high impact* on following business areas:


%

0,0

0,1

0,2

0,3

0,4

0,5

0,6

Threat to survival

Not hiring new employees

Loss of income

Additional interest charges

Dismissing employees

Prohibiting growth of the company

Prohibiting innovation

Liquidity squeeze

35%

51%

39% 38%34%

31% 31%

25% 25%

36%33% 32%

34%32% 32% 33%

Pre-crisis

During crisis

* On a scale from 1-5, 4 and 5 is defined as “high impact”.

11

Respondents who say late payments have a high impact* on liquidity squeeze

% 0,0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8

SpainGreecePolandEstonia

RomaniaLithuania

SwitzerlandFinland

SwedenDenmarkGermany

United KingdomHungary

LatviaSlovenia

ItalyPortugal

FranceNorway

EU averageAustria

Bosnia HerzegovinaBulgaria

SerbiaCroatia

SlovakiaIreland

Czech RepublicBelgium

The Netherlands

62%

55%56%

54%54%

53%53%

52%52%51%

51%50%50%

51%

50%48%48%47%47%

45%45%

43%43%

41%39%

38%28%

25%20%

11%

Split by country:


10

20

30

40

50

60

35%

51%



10

20

30

40

50

45% 46%


* On a scale from 1-5, 4 and 5 is defined as “high impact”.


SMEs are vulnerable to unfavourable payment terms

These pressures are forcing European businesses to accept unfavourable payment terms in order to secure credit and maintain cashflow. This trend has increased following the out-break of Covid-19: 71 percent surveyed during the crisis say they have accepted longer payment terms than they feel com-fortable with to avoid damaging client relationships, compared with 65 percent of those surveyed before the outbreak.

For small businesses, a late payment can mean the difference between survival and bankruptcy, harming their ability to pay employees and suppliers, cover operating costs and pursue growth opportunities. Our research reflects this pressure: 49 percent have accepted longer payment terms than they feel comfortable with from another SME over the past 12 months, compared with 43 percent of larger corporations.

While this is not a new trend for SME’s, the impact of Covid-19 increases the urgency to find a solution to this problem. SME’s represent 99 percent of businesses in the EU, creating an esti-mated 85 percent of jobs over the past five years.8 Ensuring their recovery post Covid-19 will be central in rebuilding sound economies across Europe. Prompt payment initiatives will be crucial in ensuring a steady cash flow for SME’s post-crisis.

Have you accepted longer payments than you feel comfortable with over the past twelve months?*%

0,0

0,1

0,2

0,3

0,4

0,5

Yes, from a large/ multinational corporation

Yes, from a small to medium company

Yes, from a public sector company

Not sureNo

22%19%

43%43%

26%

1% 1%

43%

49%

16%

12%

SME

Large corporation

*) The is a multiple answer question, hence the total add up to more than 100%. 8) Entrepreneurship and Small & medium-sized enterprises (SMEs), European Commission website

say they have accepted longer payment terms than they feel comfortable with to avoid damaging client relationships, compared with 65% of those surveyed before the outbreak.

71%

13

Real Estate & Con-struction

Energy, mining & utilities

Industrials & Chemi-cals

Pharma, Medical & Biotech

Tech, media & telecoms

Banking, Financial Services & Insurance

Business services

Transpor-tation & logistics

Hospitality & leisure

Consumer (incl. Retail)

Govern-ment & public sector

Split by industries:

0,00,1

0,20,3

0,40,5

0,60,7

0,8

73% 73% 72% 72% 71% 70% 69% 68% 67% 66%62%

Real

Est

ate

& C

onst

ruct

ion

Ener

gy, m

inin

g &

utilit

ies

Indu

stria

ls &

Che

mic

als

Phar

ma,

Med

ical

& B

iote

chTe

ch, m

edia

& te

leco

ms

Bank

ing,

Fin

ancia

l Ser

vices

& In

sura

nce

Busin

ess s

ervi

ces

Tran

spor

tatio

n &

logi

stic

sH

ospi

talit

y &

leisu

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onsu

mer

(inc

l. Ret

ail)

Gov

ernm

ent &

pub

lic se

ctor

“We have accepted longer payment terms than we are comfortable with, as we did not want to damage client relationships” (agree)

% 0,0 0,2 0,4 0,6 0,8 1,0

PolandSweden

DenmarkFinland

SpainSwitzerland

United KingdomGermanyHungary

LatviaNorwayIrelandCroatia

PortugalBulgaria

EU averageSlovenia

Bosnia HerzegovinaSlovakia

SerbiaFrance

GreeceAustria

Czech RepublicEstonia

ItalyRomaniaLithuaniaBelgium

The Netherlands

82%

81%82%

81%80%80%80%79%78%

76%

73%71%71%

76%

70%69%69%

68%68%67%

64%64%

63%63%63%

61%61%

59%38%

34%

Split by country:


10

20

30

40

50

60

70

80

65%71%



10

20

30

40

50

60

70

80

69% 69%



Light at the end of the tunnel

Against this backdrop of exceptional change and disruption, many businesses are fighting for survival. Sustaining liquidity and cashflow by ensuring timely payment has become their lifeline, and for some companies the Covid-19 crisis could result in the end of their journey.

Building a sustainable payment culture will require a change in behaviour. Our survey finds that this is a change that is already happening, with businesses seeking initiatives to prevent late payments at both the national and European level.

15

9) Under the European Late Payment Directive, European businesses are automatically entitled to interest for late payment and €40 minimum as compensation for recovery costs

would like to see voluntary initiatives from corpo-rations in order to tackle the problem of late pay-ment – compared to 33% in 2019.

47%

Respondents who would like to see voluntary initiatives from corporations to solve the problem of late payments:

% 0,0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8

Bosnia HerzegovinaCroatia

SloveniaBulgariaIrelandSerbia

EstoniaAustriaLatvia

FranceSwedenGreece

SwitzerlandLithuaniaHungaryRomania

FinlandUnited Kingdom

DenmarkPoland

EU averageGermany

NorwayPortugal

ItalySpain

The NetherlandsBelgiumSlovakia

Czech Republic

71%

70%70%

69%66%66%

62%60%60%

58%

56%55%

54%

58%

53%53%

52%52%

50%50%

47%47%

46%34%

28%27%

24%23%

15%14%

Split by country:

of respondents would like to see the introduction of new legislation 2020 compared to 45% 2019.

50%

Almost half of respondents (47 percent) in our survey would like to see voluntary initiatives from corporations in order to tackle the problem of late payment – an increase of 15 percent since last year. Meanwhile 50 percent of respondents would like to see the introduction of new legislation – a 5 percent rise on last year.

Another positive sign is a rise in the adoption of the EU Late Payment Directive9, which 23 percent of European businesses in our survey say they always use. Last year, 71 percent of respondents stated they were not aware of the directive.

At Intrum, our mission is to help our clients get paid for their goods and services that they sold. We take pride in using our unique insights to develop solutions that work for everyone involved. That way, we can lead the way to a sound economy.


10

20

30

40

50

45%50%


0

10

20

30

40

50

60

70

80

2019 2020

33%

47%

European average:


Respondents who would like to see an introduction of new legislations to solve the problem of late payments:

% 0,0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8

IrelandCroatiaGreece

RomaniaBulgariaAustria

LithuaniaSpainLatvia

PortugalSlovenia

PolandItaly

SwitzerlandGermanySlovakia

EU averageFrance

HungaryNorwayEstoniaFinland

United KingdomCzech Republic

Bosnia HerzegovinaSerbia

DenmarkSweden

The NetherlandsBelgium

77%

58%58%

58%57%57%57%57%

55%55%

54%53%

52%

54%

52%52%

50%50%50%50%

49%49%49%

48%47%47%47%

43%32%31%

Split by country:


10

20

30

40

50

60

49% 52%


2019 20200

10

20

30

40

50

60

70

80

45%50%

European average::

17

The white paper is based on a survey that was conducted simultaneously in 29 European countries between 14th February and 14th May 2020. A total of 9,980 companies across 11 industries in Europe participated in the research.

The content of the white paper is developed by Intrum in coop-eration with Longitude, a specialist provider of thought leader-ship and research services to a multinational corporate and insti-tutional client base, headquartered in London, England. Design by Passion/ Jeanette Friman.

Through the comprehensive survey among European compa-nies, Intrum generates awareness and debate among politicians and the media regarding how late or non-payments impact economies in Europe.

Intrum participates in seminars and meetings in Brussels to inform EU delegates of the situation and the best approach for working towards a sound economy and secure payments in Europe.

Since 2013 Intrum has, as the representative of the business community, spoken about the consequences of late payments to the European Union. Intrum continues through 2020 to par-ticipate in dialogue with the EU Commission on how to make the implementation of the Late Payment Directive as effective and forceful as possible.

The Late Payment Directive recommend payment periods for companies to be at most 60 days and for public authorities 30 days.

ContactAnna FallChief Brand & Communications OfficerIntrum

Phone: +46 70 996 98 21e-mail: [email protected]

About the report

Intrum has published the European Payment Report on a yearly basis since 1998. This is a special edition white paper focusing on the impact of Covid-19 on business outlook and payment behaviour.


About the survey

Role of respondents:Chief Executive Officer 23 %Chief Financial Officer 5 %Head of Corporate Treasury 3 %Chief Operating Officer 11 %Head of Credit Risk 3 %Director of Finance 8 %Director of Corporate Treasury 3 %Financial Controller 4 %Head of Accounting 7 %Vice-President of Finance 4 %Senior Finance Manager 5 %Senior Finance Executive 10 %Credit Manager 3 %Finance Executive 6 %

Company size:0 to 9 employees 25 %10 to 49 employees 23 %50 to 249 employees 23 %250 to 499 employees 7 %500 to 999 employees 7 %1,000 to 2,499 employees 7 %2,500 + employees 9 %

Industry sectors:Banking, Financial Services & Insurance 14 %Consumer (incl. Retail) 12 %Industrials & Chemicals 10 %Pharma, Medical & Biotech 9 %Real Estate & Construction 10 %Tech, media & telecoms 10 %Energy, mining & utilities 8 %Business services 8 %Transportation & logistics 6 %Hospitality & leisure 5 %Government & public sector 6 %Other 4 %

The research was conducted through telephone interviews and online survey participation (web questionnaire). The question-naire was translated into the respective national language.

The research was conducted by Longitude, a specialist pro-vider of thought leadership and research services. Market Expertise has supported in field work in all 29 markets. In addi-tion to Market Expertise, following field workers has supported in selected markets: Crystal Call (Slovakia), GPF associate (Italy), Markteffect (Belgium, The Netherlands), Weberschandwick (Czech Rep.).

The data has been analysed at pan-European and individual country level by industry sector, company size and Covid-19 break down.

Definitions

Company size:SME – companies with less than 249 employeesLarge corporations – companies with 250 employees or more

Covid-19 break down:Pre-crisis: Respondents interviewed prior to Covid-19 crisisDuring crisis: Respondents interviewed during Covid-19 crisis.

The data was analysed at individual country level, for each of the 29 countries, to iden-tify the date on which a material change in sentiment related to the macro-economic outlook and/or late payment could be seen.

Once the date was identified, those respondents who were interviewed prior to this date were labelled as pre-Covid-19, those interviewed on or after this date were labelled as during-Covid-19.

The date on which a material change was identified differs for each country due to the different progress of Covid-19 in each of these countries, and different timing of response actions taken by the government in each of these countries.

The structure of the sample

19

Our other publications

Intrum is the undisputed market leader in credit manage-ment in Europe. We help companies succeed by taking care of their customers and considerately helping people pay. Intrum is leading the way towards a sound economy where payment flows work, and people become debt free. We have a lot of insights and knowledge regarding the late or non-payment impact on economies throughout Europe.

Intrum actively participate in seminars and meetings in Brussels to inform EU delegates of the situation and the best approach to secure payments in Europe. Through our publi-cations you can learn more about the development of late payment trends from a local, regional and pan European view.

The European Payment Report

The European Payment Report (EPR) describes the impact late payment has on the development and growth among European enterprises. The report is based on a pan European survey carried out by Intrum in 29 European countries on an annual basis involving almost 10,000 enterprises in Europe.

Download the latest report at www.intrum.com/epr2019

European Consumer Payment Report

The European Consumer Payment Report (ECPR) is based on an annual survey conducted in 24 European countries covering over 24,000 respondents throughout the conti-nent. The report provides insights to European consumers’ views on their economic outlook, and aim to gain insight in European consumers’ every-day life; their behaviour of spending, behaviour of paying for products and services, perception on credit and ability to manage their household finances on a monthly basis.

Download the latest report at www.intrum.com/ecpr2019

European Consumer Payment Report 2020 White Paper

The ECPR white paper outlines the financial impact of Covid-19 on private households across 24 European countries and is based on a pulse survey of 4,800 consumers conducted in May 2020.

Download the latest report at www.intrum.com/ecpr2020-white-paper

Special Edition White Paper

European Consumer Payment Report 2020

Nordic Debt Collection Analysis

The Nordic Debt Collection Analysis (NDCA) seeks to close the knowledge gap between debt collection and the general eco-nomic development. The analysis provides insight on which direc-tion the default market is currently heading and to point out the keydrivers behind the observed market movements. The analysis is based on our internal data.

Download the latest report at www.intrum.com

Leading the wayto a sound economy

Intrum AB (publ)

Hesselmans Torg 14 Nacka105 24 StockholmSwedenPh +46 8 546 10 200Fax +46 8 546 10 [email protected]

Austria

IntrumDonau-City-Strasse 6, AT-1220 Vienna AustriaPh +43 1 260 88 80 0Fax +43 260 88 99 0www.intrum.at

Belgium

IntrumMartelaarslaan 53B-9000 GentBelgiumPh +32 9 218 90 94Fax +32 9 218 90 51www.intrum.be

Czech Republic

IntrumŽa Pasáži 1609 53002 PardubiceCzech RepublicPh +420 277 003 734Fax +420 283 880 902www.intrum.cz

Denmark

Intrum Kirsten Walthers Vej 72500 Valby DenmarkPh +45 33 69 70 00www.intrum.dk

Estonia

IntrumRotermanni 8EE-Tallinn 10111EstoniaPh +372 6060 990Fax +372 6060 991www.intrum.ee

Finland

IntrumPL 47FI-00811 Helsinki FinlandPh +358 9 229 111Fax +358 9 2291 1911www.intrum.fi

France

Intrum 97 Allée Alexandre Borodine CS-80008FR-69795 Saint Priest Cedex FrancePh +33 4 7280 1414Fax +33 4 7280 1415www.intrum.fr

Germany

IntrumDonnersbergstraße 1D-64646 HeppenheimGermany Ph: +49 6252 672 0 www.intrum.de

Greece

Intrum268 Kifisias Avenue152 32, Halandri, Greece

Hungary

IntrumVáci út 144–150HU-1138 Budapest HungaryPh +36 1 459 9400Fax +36 1 459 9574 www.intrum.hu

Ireland

Intrum1st Floor, Block CAshtown Gate IE- Dublin 15IrelandPh +353 1 869 22 22Fax +353 1 869 22 44www.intrum.ie

Italy

IntrumVia Galileo Galilei 7 Milano – 20124Italy Ph +39 02 288 701Fax +39 02 288 70 411 www.intrum.it

Latvia

Intrum Latvijas filialeGustava Zemgala gatve 74a LV-1039 Riga Latvia Ph +371 6781 4610www.intrum.lv

Lithuania

Intrum filialasSpaudos gatvė 8-1 LT-05132 Vilnius Lithuania Ph +370 52 045 600www.intrum.lt

Netherlands

IntrumPO Box 36161 1020 MD AmsterdamNetherlandsPh +31 (0)88 118 99 39www.intrum.nl

Norway

LindorffHoffsveien 70B0377 Oslo NorwayPh +47 23 21 10 00 Fax +47 23 21 11 00www.lindorff.no

Poland

Intrum Domaniewska 48PL-02-672 Warszaw PolandPh +48 22 576 66 66Fax +48 22 576 66 68www.intrum.pl

Portugal

Intrum Alameda dos Oceanos 59Edifício EspacePiso 1, Bloco 2, A/BParque das Nações1990-207 LisboaPortugalPh +351 21 317 22 00Fax +351 21 317 22 09www.intrum.pt

Romania

IntrumStr. Dinu Vintilă nr. 11, 021101Bucuresti Sector 2RomaniaPh + 40 21 301 29 25Fax +40 21 301 29 29www.intrum.ro

Slovakia

IntrumBlumental Offices I. Mýtna 48 811 07 BratislavaSlovakiaPh +421 2 321 63 185Fax +421 2 3216 3280www.intrum.sk

Spain

IntrumLindorff España SAUCalle Vía de los Poblados, 3. Edificio 1.28033. Madrid. SpainPh +34 91 423 4600 www.intrum.es

Sweden

Intrum 105 24 StockholmSwedenPh +46 8 616 77 00Fax +46 8 640 94 02www.intrum.se

Switzerland

IntrumEschenstrasse 12CH-8603 SchwerzenbachSwitzerlandPh +41 44 806 56 56Fax +41 44 806 56 60www.intrum.ch

United Kingdom

IntrumThe Omnibus BuildingLesbourne RoadReigate, Surrey, RH2 7 JPUnited KingdomPh + 44 17 372 373 70www.intrum.co.uk

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