Intertrust Group: Intertrust reports Q3 2020 results
N.V. (“Intertrust” or
“Company”) [Euronext: INTER], a global
leader in providing tech-enabled corporate and fund solutions to
clients operating and investing in the international business
environment, today publishes its results for the third quarter and
nine months ended 30 September 2020.
Q3 2020 Highlights
- Revenue at EUR 138.1 million roughly in line with the same
quarter last year (-0.3% underlying) with COVID-19 impacting
new business inflow.
- Adjusted EBITA margin at 32.1% reflecting the continued
investments in our transformation program and digitalisation
- Working capital improved for the 8th consecutive quarter.
- Execution of the migration plan is on track. Run rate savings
exceeded run rate expenses at the end of Q3 for an amount of
EUR 2.8 million.
- Completed acquisition of corporate services business of Sameer
Mittal in India, private wealth client book of Van Doorn AG in
Switzerland and launch of Intertrust Law in Cayman Islands.
Analyst call / webcastToday, Intertrust's CEO
Stephanie Miller and CFO Rogier van Wijk will hold an analyst /
investor call at 10:00 CET.A webcast of the call will be available
on the Company's website. The webcast can be accessed here.The
supporting presentation can be downloaded from our website.
Stephanie Miller, CEO of
Intertrust, commented:"We have
had resilient performance in the face of the ongoing COVID-19
pandemic, which is a testament to the strong and recurring nature
of our business and solid client book. It is down to the hard work
of our employees that we continue to successfully pursue our
transformation journey and maintain high quality client service
delivery. During this global crisis, people remain our priority and
our improved employee engagement scores show that commitment. We
have made strong progress against the execution of our Centre of
Excellence migration plan, while we continue to innovate and invest
in our proprietary technology in order to best serve our clients’
needs.On a final note, we have continued to think broadly about our
global business by expanding our geographical spread and our
service offering through bolt-on acquisitions in India and
Switzerland alongside the launch of Intertrust Law in the Cayman
Islands. We will continue to deliver against our transformation
journey as we move into Q4."