Attendo AB (publ) (ATT) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you and good morning everyone. Today we present Attendo's results for the first quarter of 2025 before diving into the development of the quarter. So just let me zoom out to make some comments on Attendo's status and strategy going forward. Slide two please. As a private welfare company, our mandate to do business and keep growing is closely linked to our ability to deliver a more appreciated and specialized care with higher stakeholder satisfaction at a lower cost to society than public sector. Last year, we completed the acquisition and integration of Team Olivia in Sweden and strengthened operational efficiency in Finland. Hence, we entered 2025 with more diversified operations. From an operational point of view, we have made strong progress in terms of stakeholder satisfaction among both customers, relatives, employees and payers. Last year, according to national satisfaction surveys, we reached both higher satisfaction scores among care customers in both markets while delivering care at a clearly lower cost than public providers, hence making room for increased availability to care services. This goes hand in hand with our long term vision to deliver better care to more people. Next slide, please. In the first quarter, we grew top line with around 8%, mainly driven by the acquisition of Team Olivia and more sold beds. Underlying adjusted EBITDA improved by 71 million or 44% to 234 million, an effect of both underlying operational improvements, increased occupancy in nursing homes and the Team Olivia acquisition. In Finland, we had positive effects for more sold beds in combination with continued improved operational efficiency, both in general and related to new lower staffing requirements that came into effect January 1st. In Scandinavia, we delivered exp...