Attendo Ab · OMXSTO:ATT
Attendo Ab — Q2 2020 Earnings Presentation
12 slides from Attendo Ab's earnings presentation, Jul 23, 2020
Slide 1: Q2 2020 report presentation
Q2 2020 report presentation July 23, 2020 Q2 2020 Highlights, Martin Tiveus, CEO Financial Summary, Fredrik Lagercrantz, CFO Q&A
Slide 2: Highlights second quarter 2020: Corona situation clearly improved but significant financial impact
Highlights second quarter 2020: Corona situation clearly improved but significant financial impact in the quarter • Corona situation clearly improved – zero infected residents in current operations – Since introduction of PPE 24-7 in May for all staff, the number of infected declined radically – Zer
Slide 3: Group highlights in Q2
Group highlights in Q2 Net Sales, growth1 EBITA-margin* Leverage (adj ND/adj EBITDA) 4% 4.9% 3.3x Q1/20: 8% Q2/19: 8% Q1/20: 5.8% Q2/19: 4.0% Q1/20: 3.9x Q2/19: 3.3x Quality Index Total Occupancy 6.1% 85% 78% Adjusted EBITA, r12% Q1/20: 83% Q2/19: 84% Q1/20: 80% Q2/19: 79% Total # of beds in own Ope
Slide 4: Own operations growth pace
Own operations growth pace: Continued high opening pace, will decrease in Finland from Q3 onwards No. of opened beds in own operation1) , by quarter and rolling 12 months 2,000 3,000 Openings R12 (right axis) 2,500 Openings by quarter Attendo Finland (left axis) 1,500 Openings by quarter Attendo Sca
Slide 5: Beds in operation and under construction
Beds in operation and under construction: Sharp decline of new projects in Finland according to plan No. of beds in operation1) 17,260 17,650 15,923 16,216 16,470 16,618 +9% 15,288 14,536 14,889 12,635 13,216 13,320 13,529 9,326 12,290 12,574 12,868 12,929 7,833 8,102 8,446 10,933 11,286 11,652 7,04
Slide 6: Mature units: margin and net sales development
Mature units: margin and net sales development Group reported Margin deterioration flattening out in spite of Corona-impact Mature* R12 adjusted EBITA margin development % 12 11.4% 11.3% 11.2% 11.1% 10.4% 10.3% 10.6% 10.7% 10.6% 10.6% 10.0% 10.1% 9.7% 10 11.1% 10.8% 10.1% 10.1% 10.3% 10.5% 8.4% 9.6%
Slide 7: Occupancy development: vintage breakdown
2016 and earlier Occupancy development: vintage breakdown 2017 2018 Corona has a clear negative impact in Q2 on occupancy 2019 2020 Mikeva Occupancy in own homes1 Total occ. 100 95 90 90 88 85 85 85 82 82 81 79 81 79 80 80 80 80 78 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 0 jan-17 apr-17 jul-17 o
Slide 8: P&L: Slightly higher EBITA excluding corona and capital gains
P&L: Slightly higher EBITA* excluding corona and capital gains Impairment of goodwill and right-of-use assets have a large impact of net profit SEKm Q2 2020 Q2 2019 Change (%) Net sales 3,112 2,990 4 Organic, % 3.9 1.4 - Acquired, % 0.4 6.2 - Currency, % -0.2 1.4 - Operating profit (EBITA)* 153 121
Slide 9: Attendo Scandinavia Q2 2020
Attendo Scandinavia Q2 2020 STABLE PERFORMANCE IN SPITE OF Net sales per service offering, Q2 2020 NEGATIVE CORONA IMPACT Individual and family care Net sales 6% Own care homes* Home care • Lower occupancy due to the corona situation and many openings 20% • Sales negatively impacted by divestments a
Slide 10: Attendo Finland Q2 2020
Attendo Finland Q2 2020 EARLY EFFECT OF TURN-AROUND PROGRAM Net sales per service offering, Q2 2020 Net sales Other • Growth due to sales in new own homes as well as price Own care homes - 7% (Disabled care and increases social psychiatry) 22% Profits • Positive price effect from renegotiations of f
Slide 11: Cash flow: Strong cash flow and improved liquidity and net debt / EBITDA
Cash flow: Strong cash flow and hence improved liquidity and net debt / EBITDA position since Q1 SEKm Q2 2020 Q2 2019 Operating profit (EBITA) 153 121 Change in working capital, paid tax, non cash items and depreciation 548 310 Cash flow after changes in working capital 701 431 Net investments in ta
Slide 12: Attendo
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