Attendo Ab · OMXSTO:ATT
Attendo Ab — Investor Day (March 2026)
51 slides from Attendo Ab's investor day presentation, Mar 17, 2026
Slide 1: Attendo Capital Markets Day
Attendo Capital Markets Day March 17th 2026, Stockholm
Slide 2: Agenda
Agenda 13.30 Opening remarks & introduction Martin Tivéus, President and CEO Market overview Martin Tivéus, President and CEO Operations & quality Virpi Holmqvist, MD Finland Malin Fredgardh Huber, MD Scandinavia Break Financial performance & growth Mikael Malmgren, CFO Closing remarks Martin Tivéus
Slide 3: Opening remarks & introduction to Attendo
Opening remarks & introduction Market overview Operations & quality Break Financial performance & growth Closing remarks Q&A Opening remarks & introduction to Attendo Martin Tivéus, President and CEO 3
Slide 4: Providing better care for more people
Providing better care for more people 4
Slide 5: Driving market innovation and quality standards since start
Driving market innovation and quality standards since start 2020/21 2021 Apps for communication Attendo Way internally and with relatives operating model 2022 New holistic quality framework 2015 2017 2016/18 Mobile care in Anonymous Safe and home care/ relatives secure nursing homes 2022 Vireko meal
Slide 6: From 1985 start-up to Nordic market leader
From 1985 start-up to Nordic market leader ” Overall, we are in a very good position to keep investing in both quality and capacity, in order to From rapid expansion to disciplined balanced growth meet the growing care needs in society. Net sales 2024 Team Olivia (BSEK) acquisition Martin Tivéus, Pr
Slide 7: We achieved what we set out to do, now aiming higher
We achieved what we set out to do, now aiming higher 2028 target >9 SEK adjusted EPS 2025 6 SEK 2023 adjusted EPS 3 SEK adjusted EPS 2022 0.68 SEK adjusted EPS 7
Slide 8: Attendo is part of the solution to solving future challenges
Attendo is part of the solution to solving future challenges Ageing populations Labor market dynamics Public finance constraints reinforce the need for underscore the need for increase the need for more capacity innovation cost-efficiency Need for public-private partnership Source: SKR. SCB. Statist
Slide 9: Attendo is uniquely positioned for profitable growth
Attendo is uniquely positioned for profitable growth 1 Leading social care provider in growing Nordic markets 2 Partner to public authorities, providing high-quality and cost-effective care 3 Following a clear value-creation path with ambitious targets 2026-2028 9
Slide 10: Market overview
Opening remarks & introduction Market overview Operations & quality Break Financial performance & growth Closing remarks Q&A Market overview Attendo – leading social care provider in growing Nordic markets Martin Tivéus, President and CEO 10
Slide 11: Attendo has a leading position in growing markets
Attendo has a leading position in growing markets #1 Social care market overall Attendo position market position Nursing Market size1 282 8.3 ~19 #2 #1 (2024) (BSEK) (BEUR) Total homes Net sales Growth p.a. +5% +6% +6% Home care #1 N/A (% CAGR 2018-2024) Organic Net sales Elderly boom +51% +52% N/A
Slide 12: Decentralized, tax-funded markets where private providers have a well-established role
Decentralized, tax-funded markets where private providers have a well-established role Sweden Finland • Private providers acknowledged to play an Political • Increasing structural need for capacity increasingly important role in meeting care landscape overrides political cycles demand Market • Respo
Slide 13: Sweden: Public-private partnerships independent of politics
Sweden: Public-private partnerships independent of politics 130 of 290 municipalities partner with …with ~75% of their populations private providers1… governed by left or coalition majorities Private partnership Right-wing Public only Left-wing Coalition 26% 40% 45% 55% 34% 1. Municipalities that ap
Slide 14: Social care has grown steadily in both markets
Social care has grown steadily in both markets Sweden Finland Social care market in Sweden1 (BSEK) Social care market in Finland1 (BEUR) Individuals & Social psychiatry Social psychiatry & Substance abuse CAGR CAGR Disabled care Disabled care 282 ’18-’24 ’18-’24 Home care 268 Home care +5.0% Nursing
Slide 15: Market growth projected to continue driven by ageing populations
Market growth projected to continue driven by ageing populations Key market drivers Sweden Finland Social care market in Sweden1 (BSEK) Social care market in Finland1 (BEUR) Individuals & Social psychiatry Social psychiatry & Substance abuse Ageing populations Disabled care Disabled care reinforce t
Slide 16: The 85+ population is expected to drive demand growth
The 85+ population is expected to drive demand growth Sweden Finland Number of individuals in need of nursing home Number of individuals in need nursing home (‘000 individuals) (‘000 individuals) 65-84 NH 65-84 NH 85+ NH 85+ NH +19% 16 103 86 18 +20% -1 37 (36%) 11 67 38 ~0 (44%) 56 11 25 +37% (38%)
Slide 17: Public-private partnerships are essential to solve future demand
Public-private partnerships are essential to solve future demand Care quality Work environment Cost efficiency Care routines RAI quality index Q4 Social care work environment Avg. cost per care day Avg. cost per care day 20251 (% of providers) 2025 (scale 0-10) index, 2024 (scale 0-100) 20211 (SEK)
Slide 18: Operations & quality
Opening remarks & introduction Market overview Operations & quality Break Financial performance & growth Closing remarks Q&A Operations & quality High-quality and cost-effective care Virpi Holmqvist, Managing Director Attendo Finland Malin Fredgardh Huber, Managing Director Attendo Scandinavia 18
Slide 19: Meet Attendo Managing Directors
Managing Director Attendo Finland Virpi Holmqvist 7+7 years in Attendo Meet Attendo Previous positions: CEO Touhola Group, SVP Primary and Social Care and CFO at Pihlajalinna. Various leading positions in Attendo. Managing Directors Managing Director Attendo Scandinavia Malin Fredgardh Huber 23 year
Slide 20: Attendo way ensures consistent value to our key stakeholders
Attendo way ensures consistent value to our key stakeholders Attendo way Operating model People Processes Technology KPIs Care Employees Relatives Payors recipients 20
Slide 21: Our people: The heart of what we do
Our people: The heart of what we do Strong unit level leadership eNPS1 The right prerequisites for managing daily operations, a culture of full accountability, increased leadership presence, and continuous leadership development. Competence development Flat organisation with clear responsibilities,
Slide 22: Care recipients: Our quality framework focuses on what matters
Care recipients: Our quality framework focuses on what matters Customer experience cNPS1 A meaningful everyday life 48 45 39 Quality of life & health outcomes 36 Care adapted to individual needs Process & structure quality Leading in quality fundamentals 2022 2023 2024 2025 1. Customer Net Promoter
Slide 23: Relatives: Trust, shared understanding and involvement matter most
Relatives: Trust, shared understanding and involvement matter most Trust rNPS1 Trust is built through respectful interactions and a dedicated contact person who understands the care recipient’s needs and maintains open communication with relatives. 51 44 38 Shared understanding Introductory meetings
Slide 24: Payors: Partnership built on providing high-quality and cost-effective care
Payors: Partnership built on providing high-quality and cost-effective care pSAT1 High Cost quality effective 4 4 4 • Contract compliance and a • Size enabling specialist capabilities strong patient safety culture and economies of scale • Transparent quality monitoring • Efficient service models opt
Slide 25: Technology development continuously strengthens Attendo way
Technology development continuously strengthens Attendo way 2019-2020 2020-2022 2026 2024 Digital infrastructure Data and information AI-enabled care AI in operations foundation management environments Building the core digital Building capabilities for data- First applications of AI Testing voice i
Slide 26: Attendo way as our foundation, adapted to local market dynamics
Attendo way as our foundation, adapted to local market dynamics Scandinavia adaptations Finland adaptations Attendo way Operating model People Processes Technology KPIs 26
Slide 27: Attendo Finland: Leading player in all key segments
Attendo Finland: Leading player in all key segments and 5th largest private employer in Finland Market Sales position share Attendo offering Nursing homes #1 72% Homes for older people 58% with dementia or somatic needs. of Attendo Net Sales Individuals & social psychiatry #1 11% Social psychiatry,
Slide 28: "Above all, we are a home" as a competitive advantage
“Above all, we are a home” as a competitive advantage We build competitive advantage with 5 elements: During residence 1. Spaces A home that feels like home Mealtimes 2. Everyday life Resident meetings and The care recipient's rhythm determines, Settling in daily activities not chore lists Resident
Slide 29: Leveraging RAI to individualize and improve quality of care
Leveraging RAI1 to individualize and improve quality of care High-quality data RAI assessment provides specific and high-quality data for each individual. Used in all segments Legally required for elderly care but also used within Social psychiatry and Disabled care in Attendo. Key in adapting care
Slide 30: Speech-to-text is saving time and improving quality of records
Speech-to-text is saving time and improving quality of records Developed 2024-2025: Development of a speech-to-text documentation app with AI and RPA automation, in close collaboration with care employees and IT partners. Ongoing roll-out and research collaboration: App is implemented in three units
Slide 31: Attendo Scandinavia: Operating under three key brands
Attendo Scandinavia: Operating under three key brands, launched post Team Olivia acquisition 2024 Market Sales position share Attendo offering 42% of Attendo Net Sales Nursing homes #2 54% Homes for older people with dementia or somatic needs. 7.9 BSEK Net Sales Disabled care 98% of Scandinavia #2 2
Slide 32: Building lifestyle concept nursing homes and specialized disabled care group homes
Building lifestyle concept nursing homes and specialized disabled care group homes Nursing homes with lifestyle concept Specialized disabled care group homes • Designed to feel like a home and foster a meaningful • Specialized living settings and multidisciplinary care everyday life • Facilitates sy
Slide 33: Unique in Sweden to apply specific working methods for maximizing quality of life
Unique in Sweden to apply specific working methods for maximizing quality of life and health outcomes Quality of life Dementia conversations care method Capturing what is important Preventing and alleviating to each individual. symptoms. Methodology to monitor, Methodology tailored to measure, and p
Slide 34: Digital engagement improves relatives' trust
Attendo relative app Launched 2021: Attendo Relative app introduced to relatives to Nursing Home care recipients in Sweden usage Digital engagement Facilitating continuous communication: Use cases include e.g. unit information, photo updates, activity schedules, feedback opportunities 75% adoption a
Slide 35: 5 min break
Opening remarks & introduction Market overview Operations & quality Break Financial performance & growth Closing remarks Q&A 5 min break 35
Slide 36: Financial performance & growth
Opening remarks & introduction Market overview Operations & quality Break Financial performance & growth Closing remarks Q&A Financial performance & growth Clear value-creation path with ambitious targets Mikael Malmgren, CFO 36
Slide 37: We have delivered 12 consecutive quarters of steady EPS growth
We have delivered 12 consecutive quarters of steady EPS growth Exceeded target > 5.50 SEK Adjusted EPS, R12 (SEK) Financial target 2024-2026: EPS > 5.50 SEK/share 6.5 6.15 6.0 2026 target > 5.50 SEK 2024 mid-term target >4 SEK 5.43 6.03 5.5 4.79 4.94 5.0 5.34 4.5 4.08 4.81 +100% 4.63 4.0 3.5 3.02 3.
Slide 38: Now entering the next phase of our transformation
Now entering the next phase of our transformation 2026-2028 : Scale 2024-2026 : Restore NEW Target Adj EPS1 > 9 SEK • Focus on driving balanced, asset-light 2021-2023 : Stabilize ✓ Adj. EPS1 > 6 SEK organic growth in existing markets, supported by selective bolt-on M&A’s ✓ Further restore and grow p
Slide 39: We target earnings growth towards adjusted EPS of >9 SEK
We target earnings growth towards adjusted EPS of >9 SEK 2028 Indicative & illustrative adjusted earnings per share 2023-2028 (SEK) 1 ~50% Further restore margins in Scandinavia 3 > 9.0 via improved manning, exiting unprofitable contracts and support 2 function over-head adjustments. 1 6.0 2 Continu
Slide 40: Scandinavia margin recovery ongoing
1 Restore margin levels Scandinavia margin recovery ongoing – core operations showing solid growth and profitability improvement Net Sales (MSEK) Lease adjusted EBITA (MSEK) EBITA (%) 1,909 98 5.1% 1,763 146 +8.3% 49 +102.3% 2.4% Core 48 2.7% operations1 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 20
Slide 41: Our growth model is our foundation, targeting annual EBITA growth of >10%
2 EBITA growth Our growth model is our foundation, targeting annual EBITA growth of >10% EBITA growth drivers New capacity: expansion via new own homes (net new beds adding average +2-3% of growth p.a.) 2-3% Balanced organic M&A: margin accretive bolt-on acquisitions in key growth, supported 2% segm
Slide 42: An asset-light model converts EBITA growth into strong free cash flow
2 EBITA growth An asset-light model converts EBITA growth into strong free cash flow, enabling continued growth delivery LTM FCFF and lease adjusted EBITA MSEK 1.300 1.263 1.200 1.100 1.000 900 800 700 600 500 400 300 200 100 0 Jan23 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Free cash flow to firm (R12m)
Slide 43: Stronger project pipeline expanding our capacity
2 EBITA growth Stronger project pipeline expanding our capacity to meet expected increase in demand Number of beds in pipeline projects1 1,252 Attendo Finland Attendo Scandinavia 1,057 1,044 451 Signed projects, construction not started 782 760 524 599 218 608 571 571 576 454 592 449 461 433 433 228
Slide 44: We have a strong track record with 28 acquisitions 2021-2025
2 EBITA growth We have a strong track record with 28 acquisitions 2021-2025, in markets with continued consolidation potential Acquired revenue 2021-2025 Private social care markets1 2024 (MSEK) 2 614 54,7 BSEK 4,36 BSEK 292 54% Other 51% Other 1 464 3% 3% 5% 10% 7% 14% 311 17% 548 22% 15% 2021 2022
Slide 45: High recurring cash conversion and disciplined leverage
3 Capital allocation High recurring cash conversion and disciplined leverage creates room for both growth and earnings distribution Share buy backs as % of total shares in 2024 100.0% (161 386 592) Rest of shares Shares bought, acc. Ambition 5% p.a.1 5.6% 7.1% 8.5% 10.0% of outstanding 1.3% 2.6% 3.8
Slide 46: Financial targets 2026-2028
Financial targets 2026-2028 Adjusted EPS > 9.0 SEK (based on organic and inorganic growth, and other capital allocation measures) Financial leverage 1.5-2.5x (Net debt / adj. EBITDA) (Leverage can temporarily exceed 2.5x e.g., in relation to an acquisition) Dividend 30% Earnings distribution Continu
Slide 47: Closing remarks
Opening remarks & introduction Market overview Operations & quality Break Financial performance & growth Closing remarks Q&A Closing remarks Martin Tivéus, President and CEO 47
Slide 48: Attendo is uniquely positioned for profitable growth
Attendo is uniquely positioned for profitable growth Financial targets 2028 1 Adjusted EPS Leading social care provider in growing Nordic markets > 9.0 SEK 2 Financial leverage Partner to public authorities in providing high-quality (Net debt / adj. EBITDA) and cost-effective care 1.5-2.5x 3 Earning
Slide 49: Q&A
Opening remarks & introduction Market overview Operations & quality Break Financial performance & growth Closing remarks Q&A Q&A 49
Slide 50: Upcoming IR-events
Upcoming IR-events 24-25 March HBI Conference, Paris 6 May Interim report January-March 2026 6 May AGM 3 June SHB Nordic Small & Mid Cap Seminar, Stockholm 20 August Interim report April-July 50
Slide 51: We put our hearts into it