Attendo Ab · OMXSTO:ATT
Attendo Ab — Q3 2018 Earnings Presentation
11 slides from Attendo Ab's earnings presentation, Nov 9, 2018
Slide 1: Third quarter 2018 – Presentation
Third quarter 2018 – Presentation 9 November, 2018 Martin Tivéus, CEO Fredrik Lagercrantz, CFO
Slide 2: Financial summary of Q3: Higher organic growth driven by new own units
Financial summary of Q31: Higher organic growth driven by new own units • Net sales of SEK 2,802m (2,220), growth increased by 21% adjusted for currency effects • Operating profit (EBITA) of SEK 297m (277) and corresponding EBITA margin amounted to 10.6% (12.5) • Operating cash flow2 of SEK 186m (73
Slide 3: Business highlights: High growth in own operations
Business highlights: High growth in own operations Highlights by contract model Net sales by contract model Own operations: (80% of sales) SEKm Q3 2018 Q3 2017 Chg (%) • High growth in net sales, +34% due to acquisitions and new Own operations 2,233 1,661 34 nursing homes • Record high number of new
Slide 4: Own operations: High number of openings
Own operations: High number of openings No. of opened beds in own operation1) ,rolling 12 months New openings 2 887 2 489 2 136 Attendo Hopeatorni, Vaala, Finland 1 888 1 625 1 134 851 891 866 786 767 Attendo Vuoksela, Imatra, Finland 701 719 667 597 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2015
Slide 5: Own operations: ~50% increase of beds in own operation (Y/Y)
Own operations: ~50% increase of beds in own operation (Y/Y) No. of beds in own operation1) 15 064 15 343 13 262 13 812 10 378 9 012 9 280 9 249 9 550 8 612 8 807 8 932 7 509 7 745 7 751 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2015 2016 2017 2018 No. of beds in own operation under construction2
Slide 6: Market highlights: Elections in Sweden may open up new opportunities locally
Market highlights: Elections in Sweden may open up new opportunities locally Sweden Finland • Solid demand for own operations solutions • Solid demand for own operations solutions • Market for outsourcing contract higher vs • Some local authorities divest care facilities last year and sequentially t
Slide 7: P&L: Higher organic growth
P&L: Higher organic growth SEKm Q3 2018 Q3 2017 Change (%) Net sales 2,802 2,220 26 Organic 4.1 1.7 - Acquired 17.3 4.2 - Currency 4.8 0.1 - Operating profit (EBITA) 297 277 7 Operating margin (EBITA), % 10.6 12.5 - EBIT 260 250 4 Financial net -35 -21 - Income tax -54 -50 - Profit from remaining op
Slide 8: EBITA change: M&A and occupancy in ramp-up units balance opening costs
EBITA change: M&A and occupancy in ramp-up units balance opening costs Q3 2018 vs. Q3 2017: + Acquisitions + Improved occupancy in units that were under start-up during Q3 2017 Net +20m + Home care Sweden - Own units under start-up/openings - Lower contribution from outsourcing 8
Slide 9: Cash flow: Positive op cash flow due to timing effects of working capital
Cash flow*: Positive op cash flow due to timing effects of working capital SEKm Q3 2018 Q3 2017 Operating profit (EBITA) 350 337 Change in working capital, paid tax and non cash items -120 -199 Cash flow after changes in working capital 230 138 Net investments in tangible and intangible assets -44 -
Slide 10: Quality & employees: Awards, preventive measures and new ways of displaying nursing homes in focus
Quality & employees: Awards, preventive measures and new ways of displaying nursing homes in focus Examples from third quarter 2018 • Measures to handle the extreme warm weather during the summer months • Solar panels at nursing homes Implementation for higher Client plan/methods survey efficiency a
Slide 11: Attendo
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