Attendo Ab · OMXSTO:ATT
Attendo Ab — Q3 2024 Earnings Presentation
17 slides from Attendo Ab's earnings presentation, Oct 24, 2024
Slide 1: Q3 Report Presentation
Q3 REPORT PRESENTATION Martin Tivéus CEO / Mikael Malmgren CFO 24 October 2024
Slide 2: Who we are and what we do
Who we are and what we do Share of Attendo’s net sales Attendo Q3 2024 Social Psychiatry Other and I&F 4% ~780 ~34,000 11% Providing cost Care units Employees effective and Disabled Care 14% modern solutions… 63% 8% Home ~29,500 ~21,000 Care Nursing Customers Apt./beds …solving complex Homes individ
Slide 3: Attendo positioned for long term value creation
Attendo positioned for long term value creation • Demographic trends are supporting long term market growth • Care needs in society are getting more complex and local authorities lack resources to invest in capacity and competence • Attendo is the leading Nordic provider of cost-effective and high-
Slide 4: Higher profits and customer satisfaction in both business areas
Net sales and EBITA (SEKm) Q3 2024 highlights Higher profits and customer satisfaction in both Q3 2023 Q3 2024* business areas +9% +74 4,875 420 4,488 346 • Sales SEK 4.9 bn - growth of 9%, mainly M&A driven • Lease adjusted EBITA excluding non-recurring items SEK 420m* (346) Net sales Lease adjuste
Slide 5: Strong development in customer satisfaction
Sustainability Strong development in customer satisfaction • National authorities in Sweden and Finland have published nationwide customer satisfaction scores • Attendo received higher scores for nursing homes in both Sweden and Finland* • Attendo has higher score than public sector (SE) and industr
Slide 6: Improvement in Finland; Scandinavia decrease due to openings Q324
Occupancy development Improvement in Finland; Scandinavia decrease due to openings Q324 Occupancy in all homes1,% Total Attendo Scandinavia Attendo Finland 100 95 90 86 86 86 86 86 86 86 85 85 85 83 83 84 84 84 83 82 82 81 81 81 80 80 75 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 7: Continued margin recovery; improvement in both business areas
Margin and net sales development Continued margin recovery; improvement in both business areas R12 Net sales, SEK Billion 1,2 Attendo lease adjusted EBITA %, R12M Net sales Scandinavia Net sales Finland R12 Lease Adj EBITA, % 20 6,5 18,5 18,1 6,0 17,6 17,3 16,7 5,5 15,8 15,1 4,9 15 14,5 5,0 14,0 4,5
Slide 8: Growth driven by acquisitions
Sales development Growth driven by acquisitions Net sales; SEK million 9% -80 4,876 367 4,488 155 -54 Q3 2023 AS - organic AF - organic Acquisitions Currency Q3 2024 AS = Attendo Scandinavia; AF = Attendo Finland 8
Slide 9: Profit growth in both business areas
EBITA development Profit growth in both business areas EBITA; SEK million +20 32 -2 -52 554 534 48 -18 536 -6 134 134 188 +74 420 402 346 IFRS16 effect Lease adjusted Q3 2023 AS* - AF - lease Other IFRS16 Currency Q3 2024* Non- Q3 2024 lease adjusted effect recurring adjusted items AS * Q3 2024 excl
Slide 10: Attendo Finland Q3 2024: Improved profits, welcoming more customers
Attendo Finland Q3 2024 Improved profits, welcoming more customers Organic growth 6 percent (local currency) MSEK % • Higher prices y/y 300 249 277 7 250 6 • More sold beds 200 5 4 150 3 Improved profits 100 2 37 • Partly lower personnel costs mainly due to summer staffing 50 1 0 0 • Positive price
Slide 11: Attendo Scandinavia Q3 2024: Improved profit from acquisitions and own nursing homes
Attendo Scandinavia Q3 2024 Improved profit from acquisitions and own nursing homes MSEK Strong sales growth 180 % 7 164 • Acquisitions main contributor 160 150 6 • More sold beds in nursing homes 140 116 5 120 100 4 Improved profit growth 80 3 60 • Team Olivia acquisition key driver 40 2 • Higher p
Slide 12: Continued healthy free cash flow, quarter impacted by vacation payout
Continued healthy free cash flow, quarter impacted by vacation payout (better planning and larger company e.g., more employees & salaries etc.) SEKm Q3 2024 Q3 2023 R12 Operating profit (EBITA) 536 534 1,402 Paid tax, non cash items and depreciation 489 431 1,797 Cash flow before changes in working
Slide 13: Utilization of free cash flow and financing
Utilization of free cash flow and financing R12m, MSEK 714 -159 -238 -1,105 788 Free cash flow Dividends Repurchase of own shares Acquisitions Change in lease adjusted net debt 13
Slide 14: Improved EPS. Net debt / EBITDA ratio well in line with target
Key financial metrics Improved EPS. Net debt / EBITDA ratio well in line with target despite acq. EPS bridge; Q3 2024 vs Q3 2023; SEK Lease adjusted EBITA margin*, % (R12) Adjusted EPS Q3 2023 1.45 4.9% 5 4.5% 4.6% Changes in lease adjusted EBITA 0.41 4.3% 4 3.7% Changes in financial items 0.03 3 Ch
Slide 15: Adjusted EPS R12m continues to improve
Adjusted EPS R12m continues to improve Adjusted EPS, SEK 4,0 3,84 3,5 3,38 3,76 3,20 3,02 3,31 3,0 3,18 2,5 2,41 2,0 1,76 1,5 0,96 1,02 1,0 0,68 0,5 Q3 2022 Q1 2023 Q3 2023 Q1 2024 Q3 2024 R12m* R12m*/** * Excluding 22 MSEK (8.8 MSEK in July-Sep) DK exit costs (0.14 SEK per share) and 22 MSEK (9.1 M
Slide 16: Summary of Q3
Summary of Q3 • Continued year over year profit growth • Higher customer satisfaction, also better than public sector and industry average • Improved profits in Attendo Finland • Operational improvements in Attendo Scandinavia and strong contribution from Team Olivia-acquisition • New brands in Atte
Slide 17: our Me ut
our Me ut INTO UT