Terveystalo Oy Class A · OMXHEX:TTALO
Terveystalo Oy Class A — Terveystalo Oy Ord — Q2 2025 Earnings Presentation
20 slides from Terveystalo Oy Class A's earnings presentation, Jul 17, 2025
Slide 1: Terveystalo Group Half-Year 2025 Results
Terveystalo Group Half-Year 2025 Results Ville Iho, President & CEO Juuso Pajunen, CFO
Slide 2: Agenda
Agenda Ville Iho, President & CEO Q2 2025 Financial & operational highlights Juuso Pajunen, CFO Q2 2025 Financial performance analysis Outlook & guidance Q&A 2
Slide 3: Q2 2025 highlights
Q2 2025 highlights Revenue (MEUR) EPS (EUR) 322 0.18 -5.5% y-o-y +55.1% y-o-y Adj. EBIT (MEUR) Adj. EBIT margin 36.7 11.4% +5.1% y-o-y +1.1%-p. y-o-y NPS, appointments Operating cash flow (MEUR) 87 40.5 +0.5% y-o-y -8.8% y-o-y 3
Slide 4: Each of our three business areas have a clear improvement agenda
Each of our three business areas have a clear improvement agenda Business Area Healthcare Services Portfolio Businesses Sweden LTM Revenue EUR 1,051 mill. EUR 211 mill. EUR 78 mill. LTM Adj. EBIT margin 14.5% 4.6% -4.1% Share of LTM revenue* 80% 16% 6% Turnaround and selective, Profitable growth, pr
Slide 5: Accelerating our strategic agenda: Key areas for growth
Accelerating our strategic agenda: Key areas for growth Engaged Superior value through Organic Efficiency team integrated care growth Engagement index development PEI % Group LTM adjusted EBIT development 4,23 70,4% -0,2% 70,8% 3 1 318 4,19 4,23 70,0% 69,8% 70,4% 1 313 7 10,5% 11,1% 11,4% 0 10,0% 4,
Slide 6: We see growth opportunities in multiple areas of our business, driven by volume
We see growth opportunities in multiple areas of our business, driven by volume Growth driver Healthcare Services Portfolio Businesses Sweden H1 NTM H1 NTM H1 NTM Public Consumer Insurance Occupational health 6
Slide 7: A freedom of choice trial for individuals over 65 presents a rare opportunity
A freedom of choice trial for individuals over 65 presents a rare opportunity for market expansion WHAT IS IT? TERVEYSTALO’S POSITIONING • The trial is a new type of Kela reimbursement • We aim to make the pilot successful for all model, through which the government aims to stakeholders and support
Slide 8: We accelerate efficiency, affordability and transparency of Occupational Health services
We accelerate the development of efficiency, affordability, and transparency of our Occupational Health services through a focused, multi-year program Measurable effectiveness Step change in cost Improved transparency efficiency Combining AI and cutting-edge Optimised, technology-enhanced Combining
Slide 9: Customer-focused product development and technology to lower production costs
Our emphasis is on customer-focused product development and using technology to lower production costs across all customer groups We target 90% lower production costs Further opportunity from channel mix (weighted average) in digital channels optimisation Fully AI- # +900% # # enhanced target state
Slide 10: Financial performance
Financial performance Juuso Pajunen, CFO 10
Slide 11: Q2: Solid margin development at the Group level continued
Q2: Solid margin development at the Group level continued Revenue Key figures -5,5% 340,1 4-6/2025 4-6/2024 Change, % 2024 -4,1 Revenue, MEUR 321.5 340.1 -5.5 1,340.0 -13,7 Adj. EBITA, MEUR 42.5 42.5 0.0 171.0 321,5 -1,6 0,7 Adj. EBITA-% 13.2 12.5 0.7%-p. 12.8 Adj. EBIT, MEUR 36.7 34.9 5.1 140.5 Adj
Slide 12: Q2: Robust profitability in Healthcare Services
Q2: Robust profitability in Healthcare Services Growth Key figures 100,0% 4-6/2025 4-6/2024 Change, % 2024 98,4% Revenue, MEUR 257.4 261.4 -1.6 1,042.8 -4,5% Adj. EBITA, MEUR 38.8 39.3 -1.2 162.0 4,5% Adj. EBITA-% 15.1 % 15.0 % 0.1%-p. 15.5 % -1,6% Adj. EBIT, MEUR 35.7 35.2 1.5 143.7 Adj. EBIT-% Q2
Slide 13: Q2: Profitability fundamentals continued to strengthen in the Portfolio Businesses
Q2: The profitability fundamentals continued to strengthen in the Portfolio Businesses Revenue Segment update -22% 62,7 -7,2 -6,8 49,0 • The termination of low-margin outsourcing contracts and 0,2 0,1 improved operational efficiency improved profitability year- on-year. • The publicly funded market
Slide 14: Q2: Difficult market conditions in Sweden, successful profit improvement measures
Q2: Difficult market conditions in Sweden, successful measures of the profit improvement programme Revenue Segment update -7% 22,1 1,0 • The cost savings achieved through the measures of the -2,6 20,5 profit improvement programme had a positive impact on profitability. • Adjusted EBIT improved sligh
Slide 15: We invest in organic and disciplined inorganic growth
We invest in organic and disciplined inorganic growth 59 CAPEX (MEUR) • Our investment strategy prioritises organic growth and disciplined inorganic expansion. 43 30 41 40 42 • We focus on digital investments to improve user experience and productivity for healthcare 34 33 professionals. 21 4,7 25 •
Slide 16: A strong financial position supports our strategy execution
A strong financial position supports our strategy execution Strong profit growth has led to significant cash flow conversion and deleveraging Operating cash flow (LTM) 224 Net debt to EBITDA 3,5 196 202 198 3,4 3,3 190 3,2 174 171 3,1 158 2,6 143 2,3 2,2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 202
Slide 17: Guidance for 2025
Guidance for 2025 (clarification) Terveystalo expects its full-year 2025 adjusted EBIT to be EUR 155-165 million (2024: EUR 140.5 million). • The estimates are based on a stable demand environment, employment levels, and typical morbidity rates. • The estimates account for a decrease of approximatel
Slide 18: Terveystalo Q&A
18 Q&A Terveystalo
Slide 19: Terveystalo
Terveystalo MEANINGFUL MATTERS
Slide 20: The legacy outsourcing contract portfolio shrinks as old contracts expire
The legacy outsourcing contract portfolio shrinks as old contracts expire or are terminated CO N T R AC T VA LU E , O U T S O U R C I N G CO N T R AC T S , M € ¹ 120 80 75 45 30 10 10 2022 2023 2024 2025 2026 2027 2028 20 1) ROUNDED FIGURES