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Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Hälsovård |
| Industri | Vård & Omsorg |
Attendo reports a strong start to the year 2025, both operationally and financially. In Finland, the operating result continued to improve due to a fast adaptation to new staffing requirements, leading to further improvements in operational efficiency, and more sold beds. In Scandinavia the result improved primarily driven by the acquisition of Team Olivia Omsorg, which is now fully integrated, and a positive development in own nursing homes. Overall, the development is well in line with the financial target to achieve adjusted earnings per share of SEK 5.50 in 2026.
Statement from Martin Tivéus, Attendo president and CEO
"The trend during the first quarter remained positive, mainly driven by the Finnish operations, which showed good operational efficiency and swift adaptation to the new staffing regulations. Following a period of focus on the integration of Team Olivia, which is now fully completed, we are well positioned to gradually improve occupancy and efficiency in the Scandinavian operations as well. With our strong operating model and financial position, we continue to deliver in line with our current strategy for sustainable growth.
A quarter characterised by revenue growth and increased earnings
The year began with strong growth for Attendo, despite relatively unchanged prices in elderly care in Finland. Revenue increased by 8.1 percent to SEK 4,742 million, mainly driven by last year's acquisition of Team Olivia. The underlying lease-adjusted operating profit (EBITA) increased by approximately 45 percent to SEK 234 million (161), mainly due to continued good staffing and more sold beds in the Finnish operations and acquisitions in Scandinavia. We continued to repurchase our own shares for SEK 162 million during the period.
Fast adaptation to new staffing requirements in Finland
Earnings in the Finnish operations increased by 37 percent to SEK 189 million (138), mainly due to continued improvement in staffing and more sold beds. At the beginning of the year, staffing requirements in the Finnish market changed from 0.65 to 0.6 care staff per care recipient. Normally, this type of change leads to a temporary decline in profitability, but we managed to adapt the business quickly, already in January, and have since seen positive productivity growth thanks to good staff planning. The number of own homes continued to grow during the quarter and we completed two additional acquisitions that added just over 200 beds with an occupancy rate of over 90 percent.
Price levels remained largely unchanged at the beginning of the year as a result of reduced staffing requirements in elderly care, while occupancy rates increased slightly. Although reported revenue increased only marginally, underlying growth adjusted for the reduced staffing requirements, was positive compared to the corresponding quarter last year.
Increased profits through acquisitions and own nursing homes - focus on operational efficiency in Scandinavia
Profits in the Scandinavian operations amounted to SEK 68 million, compared to SEK 43 million in the corresponding period last year. Occupancy increased slightly during the quarter, while both profits and the number of beds in own nursing homes continued to increase.
The acquisition of Team Oliva gave Attendo further economies of scale in the Individual and family care, as well as the disabled care segments, thereby strengthening our market position in complex care needs.
The integration work, which was a major focus during the previous year and had a temporary negative effect on personnel costs, was completed during the last quarter of 2024. With a new, adapted organisation in place and a strong offering under our two new brands, Viljan (Individual and family care) and Unika (Disabled care), we are well positioned to improve both occupancy and operational efficiency in the coming quarters.
High quality, value to society and profitability
Attendo's strategy is based on offering better care at a lower cost, thereby contributing to social value. At the same time, conditions must allow for long-term sustainable financial development. As a consequence, we have decided to phase out a few home care contracts in our Swedish operations where we have assessed that the conditions no longer exist for running a long-term sustainable and profitable business. The contracts that have been cancelled have no material impact on Attendo's results.
Well positioned for continued sustainable growth
Attendo is overall well positioned for continued sustainable growth in both of our business areas. We are confident about the rest of the year and see good opportunities to gradually improve both occupancy rates and operational efficiency, while we expect to be able to fully offset cost inflation in 2025.
Attendo is well positioned to continue to deliver value for our care recipients, their relatives and our clients, while delivering on our financial target of adjusted earnings per share of at least SEK 5.50 per share for 2026."
Summary of the first quarter 2025
- Net sales amounted to SEK 4,742m (4,386). Total growth amounted to 8.1 percent, of which organic growth was 1.6 percent.
- Lease adjusted operating profit (EBITA) amounted to SEK 234m (161), corresponding to a margin of 4.9 percent (3.7).
- Operating profit (EBITA) amounted to SEK 381m (292), corresponding to an operating margin of 8.0 percent (6.7).
- Profit for the period amounted to SEK 132m (63). Diluted earnings per share were SEK 0.87 (0.39). Adjusted earnings per share after dilution amounted to SEK 1.14 (0.58).
- Free cash flow amounted to SEK 40m (20).
- The number of beds in Attendo's homes at the end of the period was 21,091 (20,506). Occupancy in homes was 86 percent (86).
Invitation to presentation
In connection with the release of the interim report, a webcast presentation will be held at 10.00 am (CET), hosted by Attendo CEO Martin Tivéus and CFO Mikael Malmgren.
You can follow the presentation on the following page:
https://attendo.events.inderes.com/q1-report-2025
Analysts and investors will have the opportunity to ask questions during the presentation by calling in. To obtain call-in details, please send your request to: kommunikation@attendo.se.
The quarterly report and other information material will be made public on:
https://www.attendo.com/
Attendo AB (publ)
For further information, please contact:
Mikael Malmgren, Chief Financial Officer
Phone: +46 8 586 252 00 I email: mikael.malmgren@attendo.com
Josefine Uppling, Director of Communications
Phone. +46 76 114 54 21 I email: josefine.uppling@attendo.com
This is information that Attendo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above at 08.00 CET on 7 May 2025.
Attendo - the leading care company in the Nordics | Since 1985, seeing, supporting and strengthening people with care needs has been the starting point of everything Attendo does. In addition to care for older people, Attendo provides care for people with disabilities and social care for individuals and families. Attendo has around 33,000 employees and is locally anchored with almost 800 units in Finland, Sweden and Denmark. Every day Attendo has tens of thousands of encounters with its customers. In all these encounters, our employees manifest Attendo's shared values of care, commitment and competence.