Slide 1: First Quarter 2025 Presentation
First Quarter 2025 Presentation Mark Jensen Benno Eliasson CEO CFO
Slide 2: This is Ambea
This is Ambea Market leader in Sweden, Norway and Denmark Net sales (R12), MSEK Ambea 14 355 Nytida 4 330 Staffing and Vardaga 5 169 Social and competency elderly care 1% Stendi 3 338 9% Altiden 1 293 31% Social care Klara 404 23% Adj. EBITA and adj. EBITA margin (R12), MSEK ~14 400 MSEK sales Socia
Slide 3: Hitting the ground running in Finland
Hitting the ground running in Finland Accessing growth opportunities in a new market • Acquisition of Validia consolidated from Q2, reported as a new business area. • Focus on customers and care quality. Good and stable occupancy. • Integration ongoing as planned, majority of activities will take pl
Slide 4: Quality and sustainability that improves quality of life
Quality and sustainability that improves quality of life Quality, leadership and innovation 78% LEADERSHIP INDEX SCALE 1–100 Ambea's Quality Award With our new AI tool we are streamlining Honouring care units as beacons of recruitment and freeing up time for managers excellence in quality. to focus
Slide 5: Future organic growth
Future organic growth Active own management pipeline to meet future demand • Additions to the pipeline: • Nytida signed a contract for an assisted living facility with a total of seven new care places. Own management pipeline • Stendi signed two contracts for new care homes, with a 1 483 total of ei
Slide 6: Acquired growth
Acquired growth Increased level of M&A activity • Acquisition of Validia in Finland was completed on 1 April 2025. Acquired annual net sales per business area and year*, • After the end of the quarter, Ambea acquired parts of MSEK AvAsta with care units in both Vardaga’s and Nytida’s operational are
Slide 7: Revenue growth
Revenue growth Continued solid organic growth, negative currency effects 5,7% 7,7% 6,0% 6,6% 5,3% 5,3% 6,3% 4,6% 5,0% 1,9% 7,7% 7,6% 7,2% 6,4% 5,9% 5,9% 5,3% 4,7% 4,2% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1% -1,5 Q2 2023 Q3 2024 2025 Q3 Q1 Q4 2025 Organic growth Acquired/divested growth Currency & calender effe
Slide 8: Highlights of Q1 2025
Highlights of Q1 2025 Entry into Finnish market enables increased Nordic growth • Net sales increased by 5 per cent, driven by 4 per cent organic growth. • Adjusted EBITA for the group increased by 10 per cent, and adjusted EBITA margin improved to 8,4 (8,0) per cent. • Altiden improved performance
Slide 9: Financial summary
Financial summary Benno Eliasson CFO 9
Slide 10: Net sales
Net sales Nytida, Vardaga and Altiden drives the growth 8% 7% -2% 6% -5% 82 20 3 644 81 -14 -5 -4 3 484 Net sales Nytida Vardaga Stendi Altiden Klara Elim. Net sales Q1 2024 Q1 2025 Net sales growth per business area 10
Slide 11: Adjusted EBITA
Adjusted EBITA Profitability increase and strong margin improvement in Altiden 8,0% -1,5pp 0,1pp 1,3pp 5,3pp -0,6pp 8,4% 17 2 307 9 -1 279 8 -7 EBITA Nytida Vardaga Stendi Altiden Klara Other Adj. EBITA Q1 2024 Q1 2025 Total EBITA margin and margin development per business area 11
Slide 12: Operating cash flow
Operating cash flow Stable operating cash flow and cash conversion 100,3% 100,2% 97,9% 94,3% 94,9% 95,6% 91,8% 91,6% 85,3% 876 743 355 605 580 545 527 500 341 425 372 353 344 328 327 356 521 360 322 402 217 236 252 173 171 50 65 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2023 2024 2025 Operating cash flow, excl. gr
Slide 13: Free cash flow R12 excl. IFRS16
Free cash flow R12 excl. IFRS16 High free cash flow generation R12 1 289 1 400 1 265 -1 424 - 96 - 129 - 141 713 - 144 - 43 13
Slide 14: Utilization of free cash flow R12
Utilization of free cash flow R12 Free cash flow used for dividend payout, acquisitions and buyback of shares 713 - 130 - 254 36 - 169 - 534 Free cash flow Dividend Acquisitions Share buyback FX & other Change in net debt 14
Slide 15: Free cash flow R12 each quarter
Free cash flow R12 each quarter Strong increase in free cash flow over time 757 713 24,6 %* 549 361 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 *CAGR, % Q1 2022 – Q1 2025 15
Slide 16: Business overview
Business overview Benno Eliasson CFO 16
Slide 17: Acquisitions driving growth
Acquisitions driving growth • Net sales increased by 8 per cent, due to acquisitions MSEK Q1 2025 Q1 2024 Change, % and newly opened units. Net sales 1 122 1 041 8% • EBITA decreased by 6 per cent and amounted to 118 EBITA EBITA, % 118 10,5% 125 12,0% -6% -1,5pts (125) MSEK. Own management, % 81% 80
Slide 18: Stable operating margin
Stable operating margin • Net sales increased by 7 per cent, driven by higher MSEK Q1 2025 Q1 2024 Change, % occupancy in both newly opened and mature nursing Net sales 1 313 1 231 7% homes. EBITA 111 103 8% EBITA, % 8,5% 8,4% 0,1pts • EBITA increased by 8 per cent and amounted to 111 EBITA mature u
Slide 19: Continued solid demand
Continued solid demand • Net sales decreased by 2 per cent. In local currency net MSEK Q1 2025 Q1 2024 Change, % sales increased by 1 per cent. Net sales 823 837 -2% • Sales in own management amounted to 823 (803) EBITA EBITA, % 8,3% 68 7,0% 59 15% 1,3pts MSEK. In local currency sales increased by 5
Slide 20: Continued earnings improvement
Continued earnings improvement • Net sales increased by 6 per cent, driven by higher MSEK Q1 2025 Q1 2024 Change, % occupancy in both elderly and social care. Net sales 333 313 6% EBITA 8 -9 - • Sales in own management amounted to 246 (220) EBITA, % 2,4% -2,9% 5,3pts MSEK. In local currency sales ro
Slide 21: Weak external market
Weak external market • Net sales decreased by 5 per cent due to a continued MSEK Q1 2025 Q1 2024 Change, % weak demand for external staffing services. Net sales 100 105 -5% • EBITA decreased by 11 per cent and amounted to 8 EBITA EBITA, % 8,0% 8 8,6% 9 -11% -0,6pts (9) MSEK. EBITA margin at 8,0 (8,6
Slide 22: Concluding remarks
Concluding remarks Mark Jensen CEO 22
Slide 23: Our financial targets
Our financial targets Solid organic growth, profitability slightly above target and leverage below target Growth Profitability Leverage FINANCIAL TARGET: FINANCIAL TARGET: FINANCIAL TARGET: <3.25X NET DEBT / ADJ. 8-10% ANNUAL GROWTH 9,5% ADJ. EBITA MARGIN EBITDA (EXCL. IFRS 16) 14 355 9,7% 9,8% 6% *
Slide 24: Outlook post Q1 2025
Outlook post Q1 2025 Finnish market entry enables increased Nordic growth • The acquisition of Validia was closed 1 April adding annual sales of ~1 400 MSEK. Integration continues, significant future growth potential. • An additional acquisition within Vardaga and Nytida was completed after the end
Slide 25: Q&A
Q&A 25
Slide 26: We make the world a better place, one person at a time
We make the world a better place, one person at a time ambea.com 26