Attendo Ab · OMXSTO:ATT
Attendo Ab — Q2 2021 Earnings Presentation
16 slides from Attendo Ab's earnings presentation, Jul 22, 2021
Slide 1: Q2 Report Presentation
Q2 REPORT PRESENTATION Martin Tivéus CEO / Fredrik Lagercrantz CFO 22 July 2021
Slide 2: Q2 highlights: Improvement driven by development in Finland
Q2 highlights: Improvement driven by development in Finland • Overall profit improvement y/y due to development in Finland • Continued progress of turnaround in Finland – Improving occupancy due to net customer inflow and low number of openings – Positive price year over year, offsets immediate cost
Slide 3: Attendo's overall goals are to create value for customers, relatives & society
Attendo’s overall goals are to create value for customers, relatives & society % Quality: Value for customers, Customer experience & Wellbeing + Operational efficiency = relatives and society Highest customer satisfaction Helping more people for the in every location we operate tax money spent on ca
Slide 4: External evaluations of the pandemic indicate we performed better versus other providers in Sweden
External evaluations of the pandemic indicate that we have performed better versus other providers in Sweden Extensive work with both external and internal review - report on External analysis of excess mortality in Stockholm during the Attendo's pandemic work available on www.attendo.se pandemic Th
Slide 5: Group highlights in Q2 2021
Group highlights in Q2 2021 Net Sales, growth1 Lease adjusted EBITA2, SEKm Adjusted Earnings Per Share, SEK 6% (5%org.) 53 (1.7%) 0.19 Q1/21: 1% Q2/20: 4% Q1/21: 75 (2.4%) Q2/20: 42 (1.3%) Q1/21: 0.26 Q2/20: 0.11 Quality Index Leverage (Lease adj ND/Lease adj EBITDA2) 89% 2.7x Q1/21: 87% Q2/20: 85%
Slide 6: Towards a more balanced opening pace
Own operations: openings of new homes Towards a more balanced opening pace No. of opened beds in own operation1 , by quarter and rolling 12 months 2,000 3,000 Openings R12 (right axis) Openings by quarter Attendo Finland (left axis) Openings by quarter Attendo Scandinavia (left axis) 2,500 1,500 2,0
Slide 7: Balanced portfolio of new projects with bias on Scandinavia
Beds in operation and under construction Balanced portfolio of new projects with bias on Scandinavia No. of beds in operation (all homes)1 20,391 20,708 20,107 20,349 20,852 20,858 19,109 19,367 19,568 19,720 +1% 18,273 18,498 18,587 17,140 Own 11,186 11,539 11,905 12,543 12,808 13,090 13,160 13,558
Slide 8: Occupancy development by business area
Occupancy development by business area Cont. improvement in Finland, Scandinavia flat due to many openings Occupancy in all homes1 95 Total 90 Attendo Scandinavia Attendo Finland 85 84 84 85 83 83 82 82 82 82 82 81 83 81 81 80 80 77 75 70 5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020
Slide 9: Continued improvement in all vintages
Occupancy development for own openings by vintage Continued improvement in all vintages Occupancy in own homes1 100 94 95 92 92 93 93 93 92 92 92 90 90 89 88 88 2016 and earlier 87 85 85 2017 84 80 81 2018 75 2019 70 2020 65 2021 60 60 55 50 45 40 35 30 25 26 20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 10: Improvement in mature margin R12
Mature units: margin and net sales development Improvement in mature margin R12 Group reported R12 adjusted EBITA margin (IAS17) development % Mature, excl Mikeva 1 2 12 10.7% Mature, proportional OH 10.6% 10.6% 10.1% 9.7% 10 8.4% 8 8.8% 7.3% 6.4% 6.5% 6.4% 6.7% 7.8% 7.5% 6.0% 6.0% 6.0% 6 6.5% 6.1%
Slide 11: P&L: Positive organic growth and higher EBITA
P&L: Positive organic growth and higher EBITA1 SEKm Q2 2021 Q2 2020 Change (%) Net sales 3,207 3,112 3 Organic, % 4.8 3.9 - Acquired, % 1.2 0.4 - Currency, % -2.9 -0.2 - Lease adjusted operating profit (EBITA)1 53 42 26 Lease adjusted operating margin (EBITA)1, % 1.7 1.3 - IFRS16 adjustment 109 111
Slide 12: Attendo Scandinavia Q2 2021: Higher sales rate from low level
Attendo Scandinavia Q2 2021 Higher sales rate from low level Operational focus set on improving sales and quality Net sales per service offering, Q2 2021 • Focus on evaluation and improvement of quality measurements and self control • Improved sales process supported by digital marketing Individual
Slide 13: Attendo Finland Q2 2021: Continued good customer inflow
Attendo Finland Q2 2021 Continued good customer inflow Continued good progress in sales Net sales per service offering, Q2 2021 • Growth due to sales in CoP nursing homes as well as price increases • Growth adjusted for currency amounted to ~15% Other Disabled care 10% 5% Result improving due to hig
Slide 14: Cash flow: Positive free cash flow
Cash flow: Positive free cash flow SEKm Q2 2021 Q2 2020 Operating profit (EBITA)1 162 153 Change in working capital, paid tax, non cash items and depreciation 345 548 Cash flow after changes in working capital 507 701 Net investments in tangible and intangible assets -29 -118 Operating cash flow 478
Slide 15: Summary
Summary • Finland contributed to improved underlying profit for the Group • Continued higher occupancy in Finland • Lower profit in Scandinavia post pandemic, driven by start-up costs and low occupancy • Improved sales rate in Scandinavia in Q2 versus Q1 • Evaluations show that Attendo's measures to
Slide 16: Thank you
Thank you