Attendo Ab · OMXSTO:ATT
Attendo Ab — Q2 2018 Earnings Presentation
11 slides from Attendo Ab's earnings presentation, Jul 26, 2018
Slide 1: Second quarter 2018 – Presentation
Second quarter 2018 – Presentation 26 July, 2018 Pertti Karjalainen, CEO Fredrik Lagercrantz, CFO
Slide 2: Financial summary of Q2: Strong growth, driven by M&A and new own units
Financial summary of Q21: Strong growth, driven by M&A and new own units • Net sales of SEK 2,743m (2,189), growth increased by 22% adjusted for currency effects • Operating profit (EBITA) of SEK 128m (186) • The result was charged with costs of SEK 53m related to closure of units in the service off
Slide 3: Business highlights: High growth in own operations
Business highlights: High growth in own operations Highlights by contract model Net sales by contract model Own operations: (79% of sales) SEKm Q2 2018 Q2 2017 Chg (%) • High growth in net sales, +32% due to acquisitions and new Own operations 2,168 1,646 32 nursing homes • Record high number of new
Slide 4: Own operations: All time high number of openings
Own operations: All time high number of openings No. of opened beds in own operation1) ,rolling 12 months New openings 2 887 2 136 Attendo Marsalkanhovi, Mikkeli, Finland 1 888 1 625 1 134 851 891 866 786 767 Attendo Vintervägen, Växjö, Sweden 701 719 667 597 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q
Slide 5: Own operations: >50% increase of beds in own operation (Y/Y)
Own operations: >50% increase of beds in own operation (Y/Y) No. of beds in own operation1) 15 064 13 812 13 262 10 378 9 012 9 280 9 249 9 550 8 612 8 807 8 932 7 509 7 745 7 751 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2015 2016 2017 2018 No. of beds in own operation under construction2) 2 903 2
Slide 6: Market highlights: Solid underlying demand for new nursing homes, decision & timing for SOTE still uncertain
Market highlights: Solid underlying demand for new nursing homes, decision & timing for SOTE still uncertain Sweden Finland • Solid demand for own operations solutions • Solid demand for own operations solutions • Market for outsourcing contract higher vs • Some local authorities divest care facilit
Slide 7: P&L: High sales growth but profit impacted by close down costs
P&L: High sales growth but profit impacted by close down costs SEKm Q2 2018 Q2 2017 Change (%) Net sales 2,743 2,189 25 Organic 2.9 1.2 - Acquired 18.8 5.1 - Currency 3.6 1.6 - Operating profit (EBITA) 128 186 -31 Operating margin (EBITA), % 4.7 8.5 - EBIT 92 158 -42 Financial net -39 -16 - Income t
Slide 8: EBITA change: High number of start-up units impacts profits
EBITA change*: High number of start-up units impacts profits Q2 2018 vs. Q2 2017: + Acquisitions + Improved occupancy in units that were under start-up during Q2 2017 Net -5m + Calendar effect - Own units under start-up/openings - Lower contribution from individuals and families care *Excluding clos
Slide 9: Cash flow: Positive cash flow impact from working capital and assets and liabilities held for sale
Cash flow*: Positive cash flow impact from working capital and “assets and liabilities held for sale” SEKm Q2 2018 Q2 2017 Operating profit (EBITA) 172 228 Change in working capital, paid tax and non cash items 162 88 Cash flow after changes in working capital 334 316 Net investments in tangible and
Slide 10: Quality & employees: Focus on outdoor activities
Quality & employees: Focus on outdoor activities Examples from second quarter 2018 • Focus on older people’s need for movement and outdoor activities. • The annual fitnessImplementation walk, “Attendolunken”, Client was plan/methods survey carried out at many units. Projects Values • The disabled ca
Slide 11: Attendo
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