Attendo Ab · OMXSTO:ATT
Attendo Ab — Q1 2022 Earnings Presentation
13 slides from Attendo Ab's earnings presentation, May 6, 2022
Slide 1: Q1 Report Presentation
Q1 REPORT PRESENTATION Martin Tivéus CEO / Fredrik Lagercrantz CFO 6 May 2022
Slide 2: Q1 highlights: high organic growth and underlying profit improvement
Q1 highlights: high organic growth and underlying profit improvement Skrivit några förslag på bullets • Overall solid organic growth y/y due to occupancy and price development • Continued solid customer inflow and occupancy development in Scandinavia • Sales and personnel costs in Finland impacted b
Slide 3: Covid-19 situation remains severe in Finland
Covid-19 situation remains severe in Finland Sick leave numbers still high Share positive tests # positive tests 60.000 50% 55.000 50.000 40% 45.000 40.000 35.000 30% 30.000 25.000 20% 20.000 15.000 10% 10.000 5.000 0 0 2020 2021 2022 2022 week week week week 09 01 01 16
Slide 4: Group highlights in Q1 2022
Group highlights in Q1 2022 Net Sales, growth1 Lease adjusted EBITA, SEKm Adjusted Earnings Per Share, SEK 11% (8%org.) 31 (0.9%) 0.09 Q4/21: 10% Q1/21: 1% Q4/21: 65 (2.0%) Q1/21: 75 (2.4%) Q4/21: 0.21 Q1/21: 0.26 Quality Index Leverage (Lease adj ND/Lease adj EBITDA) 92% 2.7x Q4/21: 89% Q1/21: 87%
Slide 5: Scandinavia accounts for main part of new openings in 2021-22
Own operations: openings of new homes Scandinavia accounts for main part of new openings in 2021-22 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 (l
Slide 6: Margin and net sales development
Margin and net sales development Strong top-line growth but margin pressure remains. Margin lift expected 2nd half of 2022 R12 Net sales, SEK Billion 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 8 6.7 6.8 7.1 6.4 6.3 6.3 6.3 6.3 6.4 6.3 6.3 6.5 6.1 6.3 6 5.8 6.0 6.1
Slide 7: Occupancy development by business area
Occupancy development by business area Scandinavia continued increase, Finland impacted by Omicron Occupancy in all homes1 Total Attendo Scandinavia Attendo Finland Occupancy 95 development Finland: • Lack of summer substitutes 90 • Active COVID-19 85 84 84 85 infections at units 83 83 82 82 82 82 8
Slide 8: P&L: High organic growth but high costs and less public compensation
P&L: High organic growth but high costs and less public compensation SEKm Q1 2022 Q1 2021 Change (%) Net sales 3,482 3,062 14 Organic, % 8.2 2.0 - Acquired, % 3.3 -1.2 - Currency, % 2.2 -2.9 - Lease adjusted operating profit (EBITA) 31 75 -59 Lease adjusted operating margin (EBITA), % 0.9 2.4 - IFRS
Slide 9: Attendo Scandinavia Q1 2022
Attendo Scandinavia Q1 2022 Stable underlying performance and continued good customer inflow Solid move in rate of new customers to nursing homes Net sales per service offering, Q1 2022 • Good organic growth due to improved customer inflow Social psychiatry • Total occupancy of 81% - still on a low
Slide 10: Attendo Finland Q1 2022
Attendo Finland Q1 2022 Profit impacted by high sick leave due to Omicron High organic growth Net sales per service offering, Q1 2022 • High organic growth due to price increases and more occupied beds Other versus last year Disabled care 6% • Occupancy in Q1 negatively impacted by staff shortage (d
Slide 11: Cash flow: slightly lower free cash flow versus last year
Cash flow: slightly lower free cash flow versus last year SEKm Q1 2022 Q1 2021 Operating profit (EBITA) 142 183 Change in working capital, paid tax, non cash items and depreciation 405 378 Cash flow after changes in working capital 547 561 Net investments in tangible and intangible assets -59 -33 Op
Slide 12: Summary
Summary • High organic growth • Continued good customer inflow and occupancy development in Scandinavia • Sales and personnel costs impacted by high sick leave numbers on the back of Omicron • Higher uncertainly of access to personnel in Finland short / mid-term • Implementation of EPS target of SEK
Slide 13: Thank you
Thank you