Attendo Ab · OMXSTO:ATT
Attendo Ab — Q3 2023 Earnings Presentation
15 slides from Attendo Ab's earnings presentation, Oct 24, 2023
Slide 1: Q3 Report Presentation
Q3 REPORT PRESENTATION Martin Tivéus CEO / Mikael Malmgren CFO 24 October 2023
Slide 2: Continued progress
Net sales and EBITA (SEKm) Q3 highlights: Q3 2022 Q3 2023 Continued progress +22% +175 4,488 346 3,679 • Sales SEK 4,5bn - growth of +22%, whereof organic growth 15% 171 • EBITA* of SEK 346m – doubling vs last year • Continued progress in Finland Net sales Lease adjusted EBITA – Well carried out tra
Slide 3: Strong outcome in recent quality comparison
Strong outcome in recent quality comparison Unit survey 2023, The Swedish National Board of Health and Welfare. Summary of selected areas, % Attendo 2023 National average 2023 97 93 85 82 72 57 52 42 38 26 Nursing homes: access Nursing homes: Nursing homes: Service homes: Home care: to training & ac
Slide 4: Returning to positive occupancy development in Finland
Occupancy development Returning to positive occupancy development in Finland Occupancy in all homes1,% Total Attendo Scandinavia Attendo Finland 95 90 86 86 86 85 84 85 85 84 83 83 84 84 83 83 83 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 Q3
Slide 5: Strong top-line growth, margin recovery proceeding
Margin and net sales development Strong top-line growth, margin recovery proceeding R12 Net sales, SEK Billion 18 16.7 15.8 16 14.5 15.1 13.6 14.0 14 12.9 13.3 12.3 12.6 12 9.8 10 9.1 7.9 8.4 7.1 7.3 7.6 8 6.5 6.7 6.8 6 6.8 6.2 6.3 6.5 6.6 6.7 6.8 4 5.8 5.9 6.0 2 0 Q2 2021 Q4 2021 Q2 2022 Q4 2022 Q2
Slide 6: Sales development: High organic growth due to better terms and more sold beds
Sales development: High organic growth due to better terms and more sold beds Net sales; SEK million 22% 4,488 272 476 3,679 61 Q3 2022 AS - organic AF - organic Acquisitions Currency Q3 2023 6
Slide 7: Turnaround in Finland drives improvement
EBITA development Turnaround in Finland drives improvement Reported EBITA, SEK million +239 35 534 51 -4 188 190 295 -33 124 346 171 Q3 2022 AS - lease AF - lease Other IFRS16 effect Currency Q3 2023 adjusted adjusted IFRS16 effect Lease adjusted 7
Slide 8: Positive customer inflow and stabilization of result from low level
Attendo Scandinavia Q3 2023 Positive customer inflow and stabilization of result from low level Net sales per service offering, Q3 2023 Sales higher due to price adjustments and more sold beds • Total occupancy of 87% (85%) Individual and family care Social psychiatry 5% Disabled care 15% 2% Profit
Slide 9: Continued positive trend
Attendo Finland Q3 2023 Continued positive trend High organic growth Net sales per service offering, Q3 2023 • High organic growth due to new terms Other • Positive net sold beds despite tough labour market 10% Disabled care 9% Continued positive profit development Social psychiatry 10% • Successful
Slide 10: Improved profit and positive working capital
Cash flow: Improved profit and positive working capital SEKm Q3 2023 Q3 2022 R12 Operating profit (EBITA) 534 295 1,189 Change in working capital, paid tax, non cash items and depreciation 263 -106 1,475 Cash flow after changes in working capital 797 189 2,664 Net investments in tangible and intangi
Slide 11: Improved adjusted EPS and reduced net debt to EBITDA ratio
Key financial metrics Improved adjusted EPS and reduced net debt to EBITDA ratio EPS bridge; Q3 2023 vs Q3 2022; SEK Lease adjusted EBITA margin, % (R12) Adjusted EPS Q3 2022 0.80 4.0 3.7% 3.5 Changes in lease adjusted EBITA 0.88 2.8% 3.0 2.5 1.9% Changes in financial items -0.18 2.0 1.8% 1.4% 1.5 C
Slide 12: Drivers to reach adjusted EPS of > SEK 4 in run-rate
Drivers to reach adjusted EPS of > SEK 4 kronor in run-rate Lower leverage Higher occupancy, allowing for M&A operational or improved improvements in capital allocation Denmark and home care Increased market rates Occupancy, Operational >4.00 improvements, pricing effects 2.41 1.48 0.68 2021 2022 LT
Slide 13: Recap - Short term focus
Recap - Short term focus Status after Q3: • Secure access to qualified staff to • Staff retention improving, occupancy increasing again increase occupancy in 2024 already in Q3, expect to continue in 2024 • Improve terms in disabled care and • Negotiations according to plan social psychiatry • Expec
Slide 14: Summary Q3
Summary Q3 • High organic growth • Strong profit improvement • Strong financial position • On track to reach SEK 4 per share in 2024
Slide 15: our Me ut
our Me ut INTO IT