Attendo Ab · OMXSTO:ATT
Attendo Ab — Q2 2023 Earnings Presentation
15 slides from Attendo Ab's earnings presentation, Jul 20, 2023
Slide 1: Q2 Report Presentation
Q2 REPORT PRESENTATION Martin Tivéus CEO / Mikael Malmgren CFO 20 July 2023
Slide 2: Continued progress from turnaround
Net sales and EBITA (SEKm) Q2 highlights: Q2 2022 Q2 2023 Continued progress from turnaround +22% +158 4,333 147 3,546 • Strong growth (+22%), whereof organic growth 14% • EBITA* of SEK 147m, improvement of SEK 158m • Successful turnaround in Finland Net sales -11 Lease adjusted EBITA – Renegotiated
Slide 3: Sustainable care: Improved employee recommendation in Q2
Sustainable care: Improved employee recommendation in Q2 Employee Attendo was ranked # 7 of 361 recommendation (eNPS) listed companies in a survey of Scale from -100 to + 100 gender equality in management and board of directors 11 6 Q1 Q2 Public vs private comparison: • Sweden: Local authorities pay
Slide 4: Occupancy development
Occupancy development Occupancy in all homes1 Total Attendo Scandinavia Attendo Finland 95 90 86 86 85 84 84 85 85 83 83 84 82 83 83 84 84 82 82 82 82 81 81 81 80 80 75 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 2021 2022 2023 1. All own and outsourced nursing
Slide 5: Deep-dive: Net new customers in own homes
Deep-dive: Net new customers in own homes1 Scandinavia; Positive inflow in spite of fewer people granted access to nursing homes 107 80 In total ~5 000 beds -1 28 April May June Total Q2 2023 Finland: Attendo managed transition to new staffing requirements (April) with minor negative impact on occup
Slide 6: Margin and net sales development
Margin and net sales development Strong top-line growth and margin recovery from historically low level R12 Net sales, SEK Billion 15.8 16 14.5 15.1 13.6 14.0 14 12.9 13.3 12.2 12.3 12.3 12.3 12.2 12.3 12.6 11.5 11.7 11.9 12 11.0 11.2 10 9.1 7.9 8.4 7.1 7.3 7.6 8 6.4 6.3 6.3 6.3 6.3 6.4 6.3 6.5 6.7
Slide 7: Sales development: high organic growth due to price adjustments and more sold beds
Sales development: high organic growth due to price adjustments and more sold beds Net sales; SEK million 22% 4,333 227 69 435 3,546 58 Q2 2022 AS - organic AF - organic Acquisitions Currency Q2 2023 7
Slide 8: EBITA development: turnaround in Finland
EBITA development: turnaround in Finland Reported EBITA, SEK million +177 17 283 9 11 136 -16 MSEK excluding one-offs LY 195 106 -46 147 117 -11 Q2 2022 AS - lease AF - lease Other IFRS16 effect Currency Q2 2023 adjusted adjusted IFRS16 effect Lease adjusted 8
Slide 9: Attendo Scandinavia Q2 2023: Good growth due to more sold beds
Attendo Scandinavia Q2 2023 Good growth due to more sold beds Net sales per service offering, Q2 2023 Sales higher due to more sold beds • Good organic growth due to more sold beds Individual and family care Social psychiatry 6% • Total occupancy of 87% (82%) Disabled care 15% 2% Slightly lower resu
Slide 10: Attendo Finland Q2 2023: Continued progress during the quarter
Attendo Finland Q2 2023 Continued progress during the quarter High organic growth Net sales per service offering, Q2 2023 • High organic growth due to price adjustments and M&A Other • Stable occupancy in spite new staffing requirements 10% Disabled care 9% Improved performance Social psychiatry 10%
Slide 11: Cash flow: Improved profit while increasing interest costs
Cash flow: Improved profit while increasing interest costs SEKm Q2 2023 Q2 2022 R12 Operating profit (EBITA) 283 106 950 Change in working capital, paid tax, non cash items and depreciation 423 528 1,106 Cash flow after changes in working capital 706 634 2,056 Net investments in tangible and intangi
Slide 12: Improved adjusted EPS and lower leverage
Improved adjusted EPS and lower leverage EPS bridge; Q2 2023 vs Q2 2022; SEK Lease adjusted EBITA margin, % (R12) Adjusted EPS Q2 2022 -0.14 3.0 2.8% Changes in lease adjusted EBITA 1.23 2.5 2.1% 1.8% 1.9% 2.0 Changes in financial items -0.13 1.4% 1.5 1.0 Changes in tax rate -0.36 0.5 0.0 Adjusted E
Slide 13: Summary Q2
Summary Q2 • High organic growth driven by new agreements in Finland and more sold beds in Scandinavia • Strong profit improvement, driven by turnaround in Finland • Scandinavia reports better result in nursing homes, while lower performance in home care and Denmark • Altogether stronger financial p
Slide 14: Focus going forward
Focus going forward • Secure access to qualified staff to increase occupancy in 2024 • Improve terms in disabled care and social psychiatry • Improve operational excellence Quality of life for residents and trusted partner • Continue journey towards >90% for payors occupancy • Achieve sustainable te
Slide 15: our Me ut
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